South Africa continues to dominate Africa’s private wealth markets, with Johannesburg and Cape Town leading the continent as the two wealthiest cities.

However, Pretoria is holding its own, stabilising after the COVID-19 downturn and recording several notable relocations in 2024 and 2025, according to the Africa Wealth Report 2025 by Henley & Partners and New World Wealth.

The report highlights Pretoria, including Centurion, as a growing hub for affluent families.

Neighbourhoods such as Waterkloof and Waterkloof Ridge, alongside lifestyle estates like Mooikloof and Silver Lakes, remain popular among millionaires seeking long-term residence.

Overall, South Africa is home to 41,100 millionaires, representing 34% of Africa’s total — roughly equal to the next five wealthiest countries combined. Together with Egypt (14,800 millionaires), Nigeria (7,200), Morocco (7,500), and Kenya (6,800), the so-called “Big 5” wealth markets account for 63% of the continent’s millionaires and nearly 90% of its billionaires.

Johannesburg remains Africa’s richest city with 11,700 resident millionaires, anchored by Sandton and lifestyle estates in the Waterfall–Midrand corridor such as Steyn City and Waterfall Equestrian Estate.

Cape Town follows with 8,500 millionaires, strong wealth growth, and the continent’s most expensive prime property market, averaging USD 5,800 per sqm in areas like Clifton and Bantry Bay.

Also read: Is there an outbreak of Staphylococcus in Pretoria?

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