Wealth in Africa has favourite addresses, and a handful of cities are pulling further ahead. From the leafy suburbs of Johannesburg and Cape Town to the busy streets of Cairo and Lagos, the continent’s richest residents are not spread evenly across its major urban centres.
- Business Insider Africa presents Africa’s top 10 wealthiest cities in 2026.
- The list is courtesy of The Africa Wealth Report 2026.
- Cape Winelands recorded a 55% increase in its millionaire population over the past decade.
South Africa, in particular, has a strong hold on the rankings, claiming six of the 10 cities and regions with the highest millionaire populations. Johannesburg sits comfortably at the top with 11,500 millionaires, while Cape Town follows with 9,700.
But the numbers tell a more interesting story than where Africa’s wealthy live. Some cities are getting richer, while others are losing ground. Cape Winelands, for instance, has recorded a 55% increase in its millionaire population over the past decade, the fastest growth among the top 10.
Lagos, on the other hand, has seen its millionaire population shrink by 32%, the steepest decline on the list.
These figures, drawn from The Africa Wealth Report 2026, offer a snapshot of how wealth is distributed across the continent, which cities are attracting or retaining the rich, and where fortunes appear to be shifting.
Below are Africa’s top 10 wealthiest cities in 2026, according to latest ranking:
