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Wednesday, September 19, 2018

Top 10 Richest Cities in Africa 2018

The AfrAsia Bank Africa Wealth Report 2018 provides insights gathered by AfrAsia and New World Wealth, on wealth trends in Africa over the past 10 years.

top 10 richest cities in africa 2018
Africa Map
According to The AfrAsia Bank Wealth Report 2018, Lagos is the fourth richest city in Africa.

"Total wealth held in the city amounts to US$108 billion. Major sectors include: basic materials, real estate & construction, telecoms, transport and financial services. the" report stated.

Johannesburg was the wealthiest with $245 billion, Cairo ($140 billion), Cape Town ($135 billion),

Nigeria was also ranked 3rd among the wealthiest countries in Africa with a value of $222 bllion in privately owned assets. According to the report, South Africa is the wealthiest country in Africa with private property valued at $722 billion, and Egypt second with $330 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 Nigeria eleventh in African countries with the fastest wealth growth which was capped at 19%.

Mauritius had the highest wealth growth rate at 195%, Ethiopia 190%, Rwanda 74% and Tanzania 66%.

The wealth amount was arrived at by calculating the value of property, cash, equities and business interests but liabilities and government funds factored out.

Top 10 Richest Cities in African, 2018

  1. Johannesburg, SA - 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.
  2. Cape Town, SA - 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.
  3. Cairo, Egypt - 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.
  4. Lagos, Nigeria - 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.
  5. Durban, SA - 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.
  6. Nairobi, Kenya - 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.
  7. Luanda, Angola - 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).
  8. Pretoria, SA - Total wealth held in the city amounts to US$48 billion. Major sectors in the city include: basic materials, manufacturing and financial services.
  9. Casablanca, Morocco - Total wealth held in the city amounts to US$42 billion Major sectors in the city include: basic materials, manufacturing and financial services.
  10. Accra, Ghana - Total wealth held in the city amounts to US$38 billion. Major sectors in the city include: basic materials, manufacturing and financial services.

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