Ionic Insights: The Correlation Between Wealth and Business Jet Ownership in Africa

Following publication of the recent annual Africa Wealth Report by Henley & Partners and New World Wealth, which ranks the continent’s cities by the number of resident millionaires (high-net-worth individuals/HNWIs), we investigated whether there was a correlation between that wealth and the number of business jets based in the five wealthiest cities in Africa.

In descending order, the top five cities are ranked as follows:

Figure 1: Johannesburg is Africa’s wealthiest city by number of HNWIs. It is also home to the largest number of business jets (70).

Figure 2: Whilst it ranks second, Cape Town has a relatively small installed base of 12 business jets.

Figure 3: Cairo is home to more dollar billionaires than any other African city.

Figure 4: 75% of Nairobi’s 13-strong business jet fleet is manufactured by Cessna-Textron.

Figure 5: Lagos is the most populous city in Africa and boasts the highest concentration of business jet aircraft - one jet for every 68 HNWIs.