Here’s good news if you aspire to be a millionaire. Accra is expected to add more dollar millionaires faster than any African city over the next decade.
An AfrAsia Bank New World Wealth report into African cities, published Wednesday, forecasts the number of people with net assets of more than $1 million will surge by 78 percent to 4,100 individuals in Accra by 2025. Accra now has 2300 millionaires.
The number of millionaires in Nairobi, the Kenyan capital, will climb 71 percent, while those in the Nigerian city of Lagos, Africa’s biggest, will advance 46 percent, the New World Wealth says.
Two decades of stable political regime and developed banking system are helping to boost financial services, telecommunications and property development. The odds are getting better for Accra millionaires ambitions.
New World Wealth provides information on the global wealth sector, with special focus on growth markets.