Africa's giant mega-city that's the 'best' for business with over 12,000 millionaires

Africa is one of the fastest developing continents in the world. There are a number of infrastructure projects taking place there, including new train lines and motorways. At the same time, many cities are rapidly expanding, becoming what many would now call mega-metropolises. One of them is Johannesburg, which is also believed to be the best city for business in Africa.

The city is home to more than 12,000 millionaires, along with dozens of ultra-rich individuals and billionaires. It's also considered the wealthiest city on the world's second-largest continent, beating rivals like Cairo, Cape Town, and Lagos. It has a population of just over six million in 2025.

Sources including Business Insider Africa and the 2024 Africa Wealth Report by Henley & Partners say the city now has 12,300 millionaires, 25 centi-millionaires (people with a net worth of over $100 million), and two billionaires.

Johannesburg, also known as Joburg or Jozi, is home to Africa's biggest stock exchange - the Johannesburg Stock Exchange - as well as the headquarters of some of the continent's top banks and firms.

Most of the wealth is centred in the Sandton area, often called "the richest square mile in Africa".

It's packed with luxury malls, five-star hotels, and international designer brands like Louis Vuitton and Gucci.

As far as the city's history is concerned, it goes back to the 1880s, when gold was discovered under the Witwatersrand hills.

The discovery sparked a gold rush that quickly transformed the area into South Africa's economic heart. Johannesburg is still sometimes called the "City of Gold".

Today, mining still plays a big part. Just outside the city sits the Mponeng gold mine, which is believed to be the deepest in the world.

It reaches more than 2.2 miles below the ground and holds an estimated 46 million ounces of gold.

Johannesburg is also a city full of culture. Visitors can visit places like the Apartheid Museum, Constitution Hill, or the township of Soweto, where many anti-apartheid leaders once lived.

According to those who have visited, these landmarks often tell the story of South Africa's struggle and progress.

But the city faces challenges too. Inequality, crime, and poor infrastructure are just some of the ongoing issues.

A city council report recently revealed a 221 billion rand (£9.4 billion) infrastructure deficit, with power cuts, potholes, and water shortages affecting everyday life.

Despite that, Johannesburg remains a massive financial centre and global travel hub.

OR Tambo International Airport is one of the busiest airports in Africa, connecting millions of travellers each year.