ADVERTISEMENT
These are the 10 wealthiest cities in Africa
Johannesburg, Cape Town, Cairo and Lagos are among the 10 wealthiest cities in Africa.
Marina, Lagos island where some banks are headquartered
- The “Africa Wealth Report 2018,” provides insights on wealth trends in African nations over the past 10 years, with projections for the next 10 years.
- The report says total individual wealth held in Africa currently amounts to around $2.3 trillion.
- Other African cities in the report include Abidjan, Dar Es Salaam, Alexandria, Kampala, Windhoek, Abuja, Addis Ababa, Marrakesh, Tangler, Lusaka, Maputo, Gaborone and Mombasa.
Johannesburg, Cape Town, Cairo and Lagos are among the 10 wealthiest cities in Africa, according to the New World Wealth report.
The report titled, “Africa Wealth Report 2018,” was conducted in collaboration with The AfrAsia Bank.
ADVERTISEMENT
The report provides insights on wealth trends in African nations over the past 10 years, with projections for the next 10 years. The report also provides comprehensive wealth breakdowns for 17 African countries and 23 African cities.
According to AfrAsia, the report was conducted based on country safety index - spotlight on the safest countries for women worldwide, residential estate ratings, luxury apartment ratings, car maintenance ratings, price per square meter stats for major wealth hotspots worldwide (cities and towns), car insurance ratings, restaurant ratings and hotel ratings.
The report says total individual wealth held in Africa currently amounts to around $2.3 trillion. This figure is expected to rise by 34% over the next 10 years, reaching $3.1 trillion by the end of 2027. The likes of Mauritius, Ghana, Rwanda and Uganda are expected to be the strongest performing wealth markets in Africa during this period (90% to 150% growth rates).
Top 10 wealthiest cities in Africa
Top 10 wealthiest cities in Africa
Pulse Nigeria
1. Johannesburg
ADVERTISEMENT
Total wealth: $276 billion.
Major sectors: Financial services (banks), professional services (law firms, consultancies), construction, telecoms and basic materials.
2. Cape Town
Wealth: $155 billion
Major sectors: real estate, financial services (fund management), retail and tourism.
ADVERTISEMENT
3. Cairo
Total wealth: $140 billion.
Major sectors: real estate & construction, financial services and basic materials.
4. Lagos
Total wealth: $108 billion.
ADVERTISEMENT
Major sectors: basic materials, real estate & construction, telecoms, transport and financial services.
5. Durban
Total wealth: $55 billion.
Major sectors: real estate, finance, healthcare, construction, retail and transport.
6. Nairobi
ADVERTISEMENT
Total wealth: $54 billion
Major sectors: financial services, real estate & construction, retail, tourism, FMCG, telecoms and basic materials.
7. Luanda
Total wealth: $49 billion
Major sectors: real estate & construction, transport and basic materials (oil & gas).
ADVERTISEMENT
8. Pretoria
Total wealth: $48 billion
Major sectors: basic materials, manufacturing and financial services.
9. Casablanca
Total wealth: $42 billion
ADVERTISEMENT
Major sectors: basic materials, manufacturing and financial services.
10. Accra
Total wealth: $38 billion
Major sectors: basic materials, manufacturing and financial services.
Other African cities in the report include Abidjan, Dar Es Salaam, Alexandria, Kampala, Windhoek, Abuja, Addis Ababa, Marrakesh, Tangler, Lusaka, Maputo, Gaborone and Mombasa.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Next story
ADVERTISEMENT