Cairo, Egypt’s capital, built on the banks of the Nile River over a thousand years ago, is not only distinguished by its historic pyramids and rich cultural heritage but has also become a center of wealth and luxury. Today, Cairo is home to 7,200 millionaires, 30 centi-millionaires (individuals with wealth exceeding 100 million USD), and 4 billionaires, earning it the title of the richest city in North Africa, according to a report by Henley & Partners. Greater Cairo, with a population of over 22.1 million, is Africa’s second-largest urban agglomeration after Lagos.
Cairo’s prosperity is attributed to its strategic location on the Nile River and at the crossroads of trade routes between North Africa and the Middle East. Known as the “City of a Thousand Minarets” due to its wealth of Islamic landmarks, Cairo juxtaposes the Giza Pyramids, one of the Seven Wonders of the World, with modern buildings and infrastructure.
Egypt maintains its position among Africa’s “Big Five” wealth markets, alongside South Africa, Nigeria, Kenya, and Morocco, collectively accounting for 56% of the continent’s millionaires and 90% of its billionaires.
With large-scale projects like the New Administrative Capital and increasing investments in the financial and technology sectors, Cairo is poised to solidify its position as an economic and cultural capital in Africa, enhancing its appeal as a prime destination for the wealthy and investors.
According to the Henley & Partners report, Casablanca, Marrakech, Tangier, and Algiers are among the richest cities in North Africa. Casablanca in Morocco hosts 2,800 millionaires and one billionaire, while Marrakech has two billionaires and 1,400 millionaires. Both Tangier and Algiers are home to 1,000 millionaires each, with Tangier also hosting one billionaire.
