Nairobi Ranked Fifth Among Africa's Dollar Millionaires Cities

According to the report, Nairobi has 5,000 high net worth individuals (HNWI) worth at least $1 million.

According to data from the National Treasury, 800 individuals in Mombasa are wealthy. The two cities have a combined wealth of over $55 billion. 

Johannesburg, South Africa's business hub, has the most dollar millionaires in Africa, with 15,200, followed by Cairo, Egypt's capital, with 7,800 HNWIs.

Cape Town, another South African city, has the third highest concentration of wealthy people on the list, with 6,800 HNWIs, followed by Lagos, Nigeria's most populous city, which has 6,300.

However, no African city made the list of the top 20 cities in the world with the most dollar millionaires. Cities in the United States dominated the list.

New York, the world's most populous city, has the highest concentration of dollar millionaires, with 345,600 HNWIs, followed by Tokyo and the San Francisco Bay Area, with 304,900 and 276,400, respectively.

The residency advisory firm Henley & Partners, which compiled the report, also stated the 25 fastest-growing cities in the world in terms of their HNWI population. Those with robust oil and gas industries dominate the list, with Riyadh topping the list, followed by Sharjah in the United Arab Emirates.

Here's a list of the top 10 millionaires cities in the world.

1. New York with 16,207 millionaires and 59 billionaires.

2. Tokyo with 7,613 millionaires and12 billionaires.

3. San Fransisco with 7,613 millionaires and 12 billionaires.

4. London with 9,616 millionaires and 38 billionaires.

5. Singapore with 9,616 millionaires and 38 billionaires.

6. Los Angelos with 8,938 millionaires and 34 billionaires.

7. Chicago with 7,740 millionaires and 28 billionaires.

8. Houston with 6,904 millionaires and 25 billionaires.

9. Beijing with 6,633 millionaires and 44 billionaires.

10. Shangai with 6,530 millionaires and 42 billionaires.