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African cities with the most millionaires

African cities with the most millionaires

GROWING private wealth in Africa is transforming the continent's major cities into hubs for millionaires and billionaires, according to the latest Henley & Partners Africa Wealth Report. Collectively, these urban centres are home to 135,200 millionaires, 342 centi-millionaires with fortunes exceeding US$100 million, and 21 billionaires. With the number of high-net-worth individuals projected to jump by 65% over the next decade, these cities are not only expanding economically but are also setting the stage for a new era of prosperity and influence. bird TenX lists the top ten cities and regions for private wealth in Africa:1. Johannesburg, South Africa: 12,300…
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Artists’ residencies are on the rise across Africa as art investment catches on

Artists’ residencies are on the rise across Africa as art investment catches on

FROM Accra to Dakar, Marrakech to Lagos, Nairobi and now, Cape Town, art residence programs are on the rise, often initiated by successful African artists and now also by public-private partnerships. The French Ambassador to the southern African region, David Martinon, recently signed a letter of commitment with MEMORIST’s Director of Corporate Development, Sophie Taïeb, committing to supporting an African art residency in Cape Town. “This is the first such residency we’re establishing in Africa, we’re very excited about the possibility of creating a modern, cultural experience within a historic environment,” he is quoted in the South African art news…
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World Tour for 88-year-old cultural icon kicks off with Cape Town retrospective

World Tour for 88-year-old cultural icon kicks off with Cape Town retrospective

BOLD strokes and visually compelling patterns seamlessly fusing traditional African art and contemporary art have transformed the walls of the Iziko South African National Gallery in Cape Town - both inside and out - with the opening of a retrospective exhibition featuring a South African legend: 88-year-old Esther Mahlangu. The exhibition, dubbed "Then I Knew I Was Good at Painting": Esther Mahlangu, A Retrospective, summarises a career spanning five decades, showcasing her style that blends the rich heritage of Ndebele culture with modern art. “The retrospective pays homage to Esther Mahlangu's unique approach to art, which intersects African cultures with…
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Cape Town to mint 6,100 new millionaires in projected wealth boom

Cape Town to mint 6,100 new millionaires in projected wealth boom

CAPE TOWN is forecast to become the fourth fastest-growing wealth hub per capita among the BRICS states, according to new insights from Henley & Partners (H&P). The picturesque city is forecast to add 6,100 millionaires over the next ten years, over and above the current 7,400, representing an 85% jump. "It is currently benefiting from the ongoing ‘semigration’ of large numbers of HNWIs from other parts of South Africa (especially Johannesburg and Pretoria)," H&P notes in its inaugural BRICS Wealth Report. "It is also an increasingly popular retirement destination for migrating HNWIs from Africa, Europe, Russia, and the UK. Cape…
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“The Boy from Silvertown who shook Africa and the world with love, respect and humility”

“The Boy from Silvertown who shook Africa and the world with love, respect and humility”

TODAY we not only mourn the departure of a man but we celebrate the extraordinary life of Jermaine Craig - a beacon of love, humility, and unparalleled talent whose legacy transcends borders, touches hearts, and reshapes the very essence of sports journalism in South Africa and beyond. Jermaine's journey began in the humble streets of Silvertown, Cape Town - a boy with dreams as vast as the African sky, fueled by a passion for sports and an unwavering commitment to capturing the intricate tapestry of athletic triumphs and tribulations. Through his words, he painted the vivid portrait of South Africa's…
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Opera in Cape Town: critics trace how a colonial art form was reinvented as African

Opera in Cape Town: critics trace how a colonial art form was reinvented as African

MANY people thought that classical opera in South Africa – regarded as a Western, colonial art form that was the preserve of white people during apartheid – would die with democracy in 1994. Instead, the opposite happened. Black singers emerged as the new stars and the format of opera began to be Africanised for new audiences. Critics mapped this transformation as Cape Town established itself as a hotbed of the new opera. One such critic was Wayne Muller, who became an academic and wrote a PhD on the view of these changes. Now he has a book on the subject…
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Centi-millionaires fuel luxury property enclaves in Africa’s major cities

Centi-millionaires fuel luxury property enclaves in Africa’s major cities

AFFLUENT households are starting to make up a noticeable share of renters and buyers in major African cities, in a marked shift in the continent's luxury property domain. Cape Town, with its panoramic vistas, wineries and deep-rooted history, takes the lead as the most expensive African city - at US$5,200 per square metre according to the new Henley & Partners report. Not far behind are other South African coastal jewels, Hermanus and Plettenberg Bay, each priced at US$2,200 per square metre, drawing the wealthy with their serene ocean views and luxurious amenities. For Marrakech in Morocco, renowned for its vibrant…
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Africa’s award-winning mermaid teaches children a love for the ocean

Africa’s award-winning mermaid teaches children a love for the ocean

"DO dolphins bite? Are there ancestors living under the water?" These are the sorts of questions Zandile Ndhlovu (34) answers during bi-monthly snorkelling excursions with kids from Langa, an informal settlement in Cape Town, South Africa. "I pick up the kids from their homes, normally four at a time… We learn about the challenges the ocean is facing, and we learn about what we're going to find in the water. Then we kit up, and we go explore," says Ndhlovu. With most of them, it's their first time seeing beneath the surface, so there's lots of fear. And then somewhere…
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Urban Fusion: Nairobi and Cape Town as sister cities

Urban Fusion: Nairobi and Cape Town as sister cities

NAIROBI and Cape Town recently signed a city-to-city cooperation agreement to enhance development collaboration. An event hosted in Nairobi brought together Nairobi Governor Johnson Sakaja and Cape Town Mayor Geordin Hill-Lewis to mark the occasion. "This [agreement] will allow us to remove any remaining obstacle to the free flow of people, skills and services between the two cities," Sakaja said. On the other hand, Hill-Lewis acknowledged the common agenda in both cities centred on global competitiveness. "Both our regions are tourism giants on the African continent, and both our cities are considered gateways to our countries' many attractions. Nairobi and…
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South Africa to investigate US allegation of arms shipment to Russia

South Africa to investigate US allegation of arms shipment to Russia

SOUTH Africa's President Cyril Ramaphosa has appointed a panel to investigate U.S. allegations that a Russian ship had collected weapons from a naval base near Cape Town last year, the presidency said in a statement. The U.S. ambassador to South Africa Reuben Brigety said on May 11 that he was confident that a Russian ship, which docked at a naval base in Simonstown in the Western Cape in December last year, took aboard weapons from South Africa. An allegation South Africa has since denied. The allegations have caused a diplomatic row between the U.S., South Africa and Russia and called into…
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