The latest World’s Wealthiest Cities Report 2025, published by the UK-based firm Henley & Partners in collaboration with New World Wealth, offers a fresh snapshot of Africa’s wealth map. Out of more than 1.4 billion people on the continent, roughly 350 individuals now possess liquid assets exceeding $100 million. These are not fortunes tied up in real estate—they’re readily investable resources, often concentrated in cities that are rapidly becoming powerhouses of finance, tech, and industry. Among the standouts this year: Morocco makes a striking double appearance with both Casablanca and Marrakech featured as key hubs of high-net-worth individuals.
South Africa continues to dominate the continent’s ultra-wealthy scene, though not without some notable shifts. Cape Town has climbed to the top spot with 34 centi-millionaires—those with liquid assets of $100 million or more—up significantly from 26 in 2023. Johannesburg, once the continent’s unchallenged leader, has fallen to second place with 24 such fortunes, down from 30 two years ago. Analysts suggest that political instability and economic concerns are prompting some of the country’s wealthiest individuals to relocate—either to more stable cities or entirely new countries.
Interestingly, South Africa’s coastal towns are gaining ground as well. Umhlanga and Ballito, both popular beach destinations, now count 34 centi-millionaires between them. The Cape Winelands region, known for its vineyards and upscale lifestyle, has also attracted 18 ultra-rich residents, reinforcing a growing trend toward lifestyle-based wealth migration within the country.
Morocco, meanwhile, has solidified its position on the continental wealth map thanks to the allure of Marrakech and the economic gravitas of Casablanca. Marrakech, known for its high-end offerings and international tourism appeal, claims fifth place in Africa with 14 centi-millionaires, maintaining its reputation even as the number has dipped slightly. The city remains a magnet for Africa’s wealthy elites seeking luxury, culture, and strategic business ties.
Casablanca, Morocco’s economic capital, has seen a minor decline—from 14 ultra-wealthy individuals in 2023 to 11 in 2025. This could reflect a redistribution of wealth to other parts of the country or possibly a trend of capital moving abroad. Still, Casablanca holds firm as a key player, supported by strong foreign investment interest and a thriving luxury market.
In a region where political stability and economic opportunity are often in flux, Morocco’s dual presence underscores its growing importance as a wealth destination in North Africa.
Elsewhere on the continent, Cairo continues to serve as Egypt’s economic anchor. Despite economic headwinds, the Egyptian capital holds steady with 27 centi-millionaires. Lagos follows with 12 ultra-rich individuals. The Nigerian city, a bustling hub of finance, tech, and port activity, remains a crucial engine for West African growth.
Rounding out the list is Nairobi, which is slowly but surely climbing the ranks. With 10 centi-millionaires, Kenya’s capital benefits from its burgeoning tech sector—often dubbed “Silicon Savannah”—and its rising geopolitical profile. Nairobi may not yet rival the continent’s top-tier wealth centers, but its steady progress signals a promising future.
