Top 10 Most Richest/Wealthiest Cities In Africa
Africa has long been considered one of the poorest continents by Westerners.
However, there is a great deal of poverty in Africa. However, there has also been a significant accumulation of wealth since 2019.
There is a significant amount of money hidden away in the continent's largest cities as a result of the rapid growth of the tourism, finance, construction, and real estate industries.
The wealth of the people who live in a city can indicate its wealth. The residents' private wealth is used to rank the wealthiest African cities.
Other assets, including cash, property equity, business interest, and other assets, are counted as less than obligations. The evaluation does not include funds from the government.
Most Richest Cities In Africa 2023
- Johannesburg, South African
- Cairo, Egyp
- Cape Town, South Africa
- Lagos, Nigeria
- Nairobi, Kenya
- Luanda, Angola
- Durban, South Africa
- Pretoria, South Africa
- Morocco's Casablanca
- Accra, Ghana
1. Johannesburg, South African
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South Africa's largest city, is at the top of the list, with a wealth of around $248 billion.
The city's excellent location in the Witwatersrand hill range, a region rich in minerals and the hub of a highly profitable diamond and gold trade, is the reason for its enormous prosperity.
Johannesburg is home to 970 millionaires and two extremely successful billionaires, all because of its booming industry.
Due to the abundance of high-paying jobs in the professional, financial, and telecommunications sectors, Johannesburg is South Africa's main business hub, and even those who do not earn six figures are making a profit.
2. Cairo, Egypt
The name Egypt immediately conjures up images of the Nile, the Pyramids, and Julius Caesar's cat-eyed consort.
Currently, you might want to include the location of the second-richest African city.
Cairo is the most populous urban area worldwide and the largest city in the Arab world due to its sprawling population.
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There is a lot of poverty and unemployment here, as one would expect from such a large city. you can also read the African countries with most strongest Military Soldiers.
However, it also has a very high proportion of the wealthiest men and women, five billionaires, and 480 multimillionaires, all of whom contribute to the $140 billion in total wealth of the city.
3. Cape Town, South Africa
Despite being the most dangerous city in South Africa, Cape Town is home to one of the most stunning beaches, which attract thousands of visitors annually.
Naturally, a significant amount of money enters the region as a result of the entire tourism industry.
Cape Town is one of the wealthiest cities in Africa and the entire world because of its booming real estate investment, financial services, and retail sectors.
Additionally, the city is home to approximately 150,000 millionaires who make Cape Town their base of operations.
One of the wealthiest cities in Africa, the city's wealth is estimated to be worth $135 billion.
4. Lagos, Nigeria
has a significant trade between imports and exports because it is one of Africa's busiest and largest ports.
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Also, the city is one of the wealthiest in Africa because it is one of the fastest-growing financial centers and has the highest GDP rate of any African county.
By 2100, it is expected to have over 86.3 million people living there. Lagos is estimated to be worth $120 billion, and the city is home to four billionaires and 480 multimillionaira. you can also read about the most richest musician in Africa
5. Nairobi, Kenya
is an urban area with a rapidly expanding job market, primarily in the fields of financial services, construction, real estate, tourism, telecommunications, and FMCG trades, with a daily increase in population.
There are approximately 280 multimillionaires in Nairobi. One of Africa's wealthiest cities is Nairobi thanks to the approximately $55 billion held by its wealthiest residents.
6. Luanda, Angola
Despite having $48 billion in wealth, Luanda, Angola ought to be one of Africa's most well-known cities.
Luanda, Angola's largest municipality, is home to the country's wealthiest residents—400 millionaires, 340 multimillionaires, and a single billionaire—who is undoubtedly very content with his or her life.
All because of Luanda's expansion in the construction, real estate, and transportation industries.
7. Durban, South Africa
Durban is the second-richest city in the continent's most prosperous nation of South Africa, but it is not the final one.
The city has the busiest ports and the third-highest population in the country.
Durban is a bustling city full of activity and business. Its millionaires' trade is even stronger than its tourism, real estate, financial services, healthcare, construction, retail, and transportation industries.
The city's $46 billion in wealth is held by 3200 millionaires, 130 multi-millionaires, and one billionaire.
8. Pretoria, South Africa
Pretoria is home to three universities, the Council for Scientific and Industrial Research, the administrative seat of South Africa, and the center of academic research.
Pretoria has managed to make millionaires out of 2600 residents and multi-millionaires out of 110 more thanks to a robust employment market, expanding manufacturing businesses, and strong financial conditions.
Pretoria is still one of the wealthiest cities in Africa, with a value of $42 billion, despite the fact that no resident has achieved the status of a billionaire.
9. Morocco's Casablanca
is one of only two North African cities on this list. The city is doing well and has a lot to be proud of.
Casablanca is the largest and wealthiest city in Morocco, despite the fact that Marrakech is the most popular tourist destination.
2300 millionaires and 111 multi-millionaires live in Casablanca, where the financial and manufacturing sectors make a lot of money. The city could have an impressive fortune of around $40 billion.
10. Accra, Ghana
The West African city of Accra is Ghana's capital and home to the nation's highest concentration of wealthy residents.
Due to the large number of wealthy residents, the city's national net worth is approximately $35 billion.
Accra is the dream home of 2300 millionaires and 100 multi-billionaires. The city is without a doubt one of the wealthiest in Africa.
