Africa is believed to be one of the most poverty-stricken continents.
However, for the past few years, the continent has registered exponential growth in its economy.
If you were asked to guess which is the richest city in Africa, what answer would you give?
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Would you consider factors such as population, cash flow, or net worth?
Johannesburg
Johannesburg, South Africa’s biggest city, tops the list as the wealthiest city in Africa.
Its worth is greatly influenced by the presence of the Witwatersrand hill range, the hub for its minerals.
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The centre is known for its profitable trade in diamonds and gold.
It has anestimated net worthof $248 billion.
Cape Town
Cape Town might have not so good reputation in matters of security.
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However, it has secured the position of the second richest place in Africa.
Therefore, tourism brings a considerable amount of money that floods in the city’s economy.
The trade has also influenced other sectors like real estate and other retail industries.
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Cape Town has anestimated net worthof $133 billion.
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3.
Cairo
The name Egypt always stirs the thought of the Nile and maybe the ancient pyramids.
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Being a large metropolis, it suffers the impact of poverty and unemployment.
However, it is home to some of the wealthiest men and women in the continent.
It has more than 450 millionaires and 5 billionaires.
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As a result, Cairo has a net worth of approximately $129 billion.
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4.
Its economy is greatly influenced by the city’s import and export trade.
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It is home to more than 3,000 millionaires and more than 100 multimillionaires and 1 billionaire.
As a result, Durban has an estimated net worth of $54 billion.
Nairobi
Nairobi is best described as the city on the rise.
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Apart from its population growing by the day, its job market is equally increasing at a significant rate.
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Pretoria
Pretoria is known to be South Africa’s administrative hub.
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It is home to the Council for Scientific and Industrial Research and three of the country’s universities.
It also boasts of the sustainable manufacturing industry and stable financial services industry.
Pretoria is home to more than 2,500 millionaires and more than 100 multimillionaires.
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As a result, Pretoria has an estimated net worth of $45 billion.
Luanda
Luanda may not be one of the best-known cities in the continent.
However, it stands as the most populous city on the continent.
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Luanda has an estimated net worth of $42 billion.
Casablanca
Casablanca is one of the cities in the Northern part of the continent.
Even though Marrakech is the most famous international destination in Morocco, Casablanca is the country’s largest city.
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Its financial services and manufacturing sectors significantly influence the city’s proliferation of millionaires.
Casablanca has an estimated net worth of $39 billion.
It is home to the largest concentration of wealth as it houses more than 2,300 millionaires and 100 multimillionaires.
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Accra has an estimated net worth of $35 billion.
FAQs
These questions will also help you know more about the outstanding African cities.
What is the richest city in Africa?
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In matters of wealth, Johannesburg stands as the wealthiest city in the continent.
Its net worth is a factor of the cumulative private wealth held by individuals living in the city.
Regarding cash flow, Abuja is the most developed African city.
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Which country is the richest in Africa?
Which is the richest city in South Africa?
Out of the cities in the country, Johannesburg stands as the wealthiest city in South Africa.
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She graduated from Meru University of Science and Technology with a Bachelor of Technology in Civil Engineering in 2019.
In 2023, Priscillah finished the AFP course on Digital Investigation Techniques.
She has been writing articles on Briefly.co.za since 2019.
Email: pshmueni@gmail.com
