Johannesburg tops the millionaire list with 23 400 millionaires at the end of 2012, followed by Cairo with 12 300 and Lagos with 9 800.
Cape Town and Nairobi round out the top five and most notably, there are four South African cities in the top 10 including Cape Town, Durban and Pretoria, according to New World Wealth report.
Millionaires refer to individuals with net assets of US$1 million or more (excluding their primary residences).
Although Johannesburg is ranked number 10 in the Fastest growing cities for millionaires in 2012 to 2020 (3.4 percent and 30.6 millionaires in 2020), the city is ranked number one for Top 10 cities ranked by millionaires in 2020 with Cape Town (40), Durban (8) and Pretoria (10) also making the list.
All four cities remain in the Top 10 cities ranked by multi-millionaires 2012 with Johannesburg leading the pack, explains Andrew Amoils, senior analyst at New World Wealth.
He says multi-millionaires are individuals with over US$30 million each, also referred to as ultra high net worth individuals.
Africa: Top 10 cities ranked by millionaires 2020
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