Wednesday, September 2, 2015

AfrAsia Bank New World Wealth Report - The top African cities for Millionaires

According to the latest AfrAsia Bank New World Wealth Report, there are approximately 161,000 millionaires living in Africa (as of June 2015), with combined wealth holdings of US$660 billion. Note: “Millionaires” or “HNWIs” refer to individuals with net assets of US$1
million or more.



Among major cities for millionaires, Accra is expected to be the fastest growing going forward.



Note: Table above only includes cities with 2,000 or more millionaires, so fast growing cities such as
Maputo, Lusaka, Abidjan, Dar Es Salaam and Addis Ababa are excluded.


Definitions:

  • “Millionaires” or “HNWIs” refer to individuals with net assets of US$1 million or more.
  • “Wealth” or “net assets” is defined as the net value of assets (assets less liabilities). It includes financial holdings, business interests and tangible assets. The only major asset we exclude from our valuation is primary residences.
  • For the purposes of this report, local millionaires include all individuals who are living or working in each country, including expats.


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