South Africa’s total High Net Worth Individuals (HNWI), comprising some 39,200 people holding the most wealth in the country, is today pegged at USD 649 billion. This makes the country the wealthiest in Africa.
South Africa’s total High Net Worth Individuals (HNWI), comprising some 39,200 people holding the most wealth in the country, is today pegged at USD 649 billion. This makes the country the wealthiest in Africa.
Johannesburg, South Africa
According to the report, Sandstone, the home to Johannesburg’s Stock Exchange – Africa’s largest stock market – adds up to make the total wealth held in this city at $248 billion.
The city is also home to many of Africa’s top banks.
Cape Town, South Africa
Cape Town’s wealth is a whopping $133 billion. This coastal city is also known as ‘The Mother City’ due to its location and the fact that it was the first city named a Metropolis in South Africa.
The city is also known for its harbor.
Cairo, Egypt
According to the report, Cairo has more billionaires than any other African city. The total wealth held in the Egyptian capital is $129 billion.
Lagos, Nigeria
Lagos is the main hub of Nigeria’s popular film industry, Nollywood. It is also the largest city in Africa in terms of population and GDP but not in relation to wealth. It is the fifth most populous city in the world.
The total wealth held in this Nigerian city is $96 billion.
Durban & Umhlanga, South Africa
The total wealth held in this city is $54 billion. The major sectors in these parts of South Africa include healthcare, financial services, real estate, and transport.
Nairobi, Kenya
Nairobi, known to be the economic hub of the East African region, has a total capital of $49 billion.
“We expect Nairobi to break into the top five wealthiest cities in Africa soon, possibly replacing Lagos which has been slipping down the list of late”, notes the report.
Pretoria, South Africa
Pretoria has a total wealth of $45 billion. The quiet city in Gauteng features a number of natural and cultural attractions, as well as, significant old buildings and museums.
Luanda, Angola
The city holds wealth amounting to $42 billion, states the African Wealth Report 2019. Luanda is known as the ” Paris of Africa” due to the city’s sophisticated culture and atmosphere.
Casablanca, Morocco
This Moroccan city holds wealth amounting to $39 billion.
Accra, Ghana
Described as the gateway to Africa, Accra boasts of a wealth of $35 billion.
The name Accra is derived from the Akan (a Ghanaian language) word Nkran which means “ants”, a reference to the numerous anthills seen in the countryside around it.
Credit: Face2face.com