AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.
According to the report, Johannesburg, South Africa is the richest city in Africa with $276 billion, Capetown, SA is second on the list with $155 billion, following close is Cairo, Egypt with $140 billion.
The wealth was arrived at by calculating the value of property, cash, equities and business interests. Liabilities and government funds were factored out.
The report also ranked the hub of Nigeria, “Lagos” the fourth richest city in Africa and richest city in West Africa with $108 billion
See full list below..
Top 10 Richest Cities in Africa, 2018: For full Top 10 Richest Countries in Africa, 2018 click here
Johannesburg, SA (1): Total wealth held in johannesburg amounts to US$276 billion.. Major sectors in the city include: financial services (banks), professional services (law firms, consultancies), construction, telecoms and basic materials.
Cape Town, SA (2): Total wealth held in the city amounts to US$155 billion. Major sectors in Cape town include: real estate, financial services (fund management), retail and tourism.
Cairo, Egypt (3): Total wealth held in the city amounts to US$140 billion. Major sectors in Cairo city include: real estate & construction, financial services and basic materials.
Lagos, Nigeria (4): Total wealth held in the city amounts to US$108 billion. Major sectors in Lagos include: basic materials, real estate & construction, telecoms, transport and financial services.
Durban, SA (5): Total wealth held in the city amounts to US$55 billion. Our figures for Durban include Umhlanga, Ballito, Zimbali and La Lucia. Major sectors in the city include: real estate, finance, healthcare, construction, retail and transport.
Nairobi, Kenya (6): Total wealth held in the city amounts to US$54 billion. Major sectors in the city include: financial services, real estate & construction, retail, tourism, FMCG, telecoms and basic materials.
Luanda, Angola (7): Total wealth held in the city amounts to US$49 billion. Major sectors in the city include: real estate & construction, transport and basic materials (oil & gas).
Pretoria, SA (8): Total wealth held in the city amounts to US$48 billion. Major sectors in the city include: basic materials, manufacturing and financial services.
Casablanca, Morocco (9): Total wealth held in the city amounts to US$42 billion Major sectors in the city include: basic materials, manufacturing and financial services.
Accra, Ghana (10): Total wealth held in the city amounts to US$38 billion. Major sectors in the city include: basic materials, manufacturing and financial services.
