Ghana’s capital Accra is expected to be the fastest growing major African city for millionaires over the next eight years, according to recent research by UK-based New World Wealth.
Accra’s number of high net worth individuals (HNWI) – with net assets of US$1 million or more, excluding their primary residences – are expected grow from 800 in 2012 to 1,500 in 2020.
New World Wealth projects the growth in millionaires by using a number of variables, including economic growth in country, income distribution trends and recent HNWI growth trends in the city or country.
Africa’s fastest growing cities for millionaires (2012 – 2020)
|Rank||City||Growth rate per annum||Millionaires in 2012||Millionaires in 2020|
|5.||Dar es Salaam||6.0%||1,900||3,000|
|Only includes cities with over 800 millionaires in 2012.|