New World Wealth (NWW) News

Johannesburg, South Africa

The top 10 wealthiest cities in Africa: AfrAsia Bank & New World Wealth (Infographic)

AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

Here are 17 facts about Africa you might not know

Here are 17 facts about Africa you might not know

Here are some key facts and figures, courtesy of the Indo Asian News Service (IANS), about a continent that is not only one of the fastest growing regions of the world but one that is economically, culturally and linguistically diverse.

Bimpe Nkontchou, Managing Principal, W8 Advisory

How Africa's super-rich spend their millions (Video)

Bimpe Nkontchou, Managing Principal, W8 Advisory, speaks about how Africa’s ultra-rich spend their wealth.

Africa’s millionaires are in Nigeria, Egypt, South Africa with some in Kenya too

Africa's millionaires are in Nigeria, Egypt, South Africa with some in Kenya too (Infographics)

It’s beginning to sound like a broken record, but the Africa rising mantra increasingly rings true.

Cyril Ramaphosa

Cyril Ramaphosa tops list of candidates for next President of South Africa, according to New World Wealth survey (Infographic)

Cyril Ramaphosa, South Africa‘s current Deputy President, is the top candidate for next President of South Africa, with 71% of respondents picking him over other likely candidates.

Cluster development in Zimbali which overlooks the wetlands and the ocean. Units range from R7.5 - R11.95 million each. Image: JACKIE CLAUSEN

Where do South Africa's rich live?

Sandhurst in Johannesburg is South Africa’s premier millionaire playground. The Sandton suburb is home to 130 multimillionaires – those with assets of R120 million or more.

Durban, South Africa: Durban has seen fastest growth of millionaires in South Africa since 2000.

What are South Africa's fastest growing cities for millionaires?

The city of Durban has seen the fastest growth of millionaires – high net worth individuals (HNWIs) with assets of US$1m or more – in South Africa, according to New World Wealth’s latest report.

Addis Ababa, Ethiopia

Ethiopia: The Addis millionaire's club

At first glance, Ethiopia would seem like a tough place for business owners to make it big. The strength of the state stands in contrast to the fledgling private sector, where foreign competition is barred in key industries and big sectors are entrusted to state-owned companies.

Luxury home in Cape Town, South Africa

South Africa's top 10 suburbs for luxury homes

Cape Town’s Atlantic seaboard suburbs of Camps Bay and Clifton, along with Johannesburg’s wealthy Sandhurst and Hyde Park neighbourhoods, account for the majority of luxury homes in South Africa.

The Mercedes Maybach is one of the auto brands popular amongst Nigeria's top one percent

In Lagos, Nigeria, the 1% takes stock

Guests sashayed through the tent doors into a scene of surreal opulence. At the far end of the tent, engulfed by servants, courtiers, national politicians and guards with wires in their ears, the celebrant perched beside his wife on a throne covered with white faux fur, his every move broadcast on flat-screens arrayed around the tent walls.

Johannesburg skyline | Source: Shutterstock

In South Africa, more evolution than revolution

When Khanyi Dhlomo opened a plush designer boutique here late last year, it revealed as much about the national psyche as it did about the local fashion industry.

SAOTA-designed luxury villa in South Africa

Which African countries will see the greatest growth in millionaires over the next 10 years?

Research firm New World Wealth recently put together a ranking of African countries forecast to experience the greatest growth in high-net-worth individuals (HNWIs) over the coming decade.

A mixed use high density development stands as part of the Wescape real estate project in Cape Town, South Africa, in this undated handout illustration.

Building a Boston in Cape Town: $13B dream rises from ashes of apartheid

David Pearson has a vision: a new community of 800,000 — bigger than Boston — complete with factories, schools, clinics and a university that will help erase the legacy of apartheid in Cape Town.

Africa has the world's fastest growth in high net worth individuals (HNWIs)

Africa is the fastest growth region for private banking globally: New World Wealth

The private banking unit of South Africa-based Investec holds Africa’s largest portfolio of assets under management with USD 23.7 billion, reflecting increased demand for services from the affluent segment of the continent’s population.