Africa’s economy has been improving over the last two decades as African governments are trying to focus more on infrastructure in African countries and making the quality of life better by building more schools and hospitals, as well as creating more jobs. African cities are developing fast and the cities municipalities are trying to make African cities as safe and as clean as possible.
Do you know what is the richest city in Africa? If not, you’re in luck, as in this post, we’ll talk about the top 10 richest cities in Africa. Then keep reading to get to know Africa’s wealthiest cities. The list is according to Afrasia’s yearly report.
Johannesburg, South Africa
Being home to Africa’s largest stock market, Johannesburg is the richest city in Africa. With 249 Billion USD, this South African city is fortunate to have the Witwatersrand hill range, an area replete with minerals and the center of a very profitable gold and diamond trade.
Cape Town, South Africa
With USD 133 Billion, Cape Town is the second-richest city in Africa. A lot of millionaires around the world head to Cape Town for their vacation home, because this city has one of the best weathers in the whole world where it’s always spring.
Egypt’s capital is Africa’s third-richest city in Africa. Cairo has more billionaires than any other city in Africa. This city has USD 129 Billion in wealth which comes from tourism in Egypt, especially for the famous Giza Pyramids Complex, one of the Seven Wonders of the World. With a lot of universities and colleges, Cairo is also an educational hub for most Arab countries.
Nigeria’s largest city, Lagos is Africa’s most populated city. AKA “Lasgidi,” Nollywood (Nigeria’s popular film industry) which has become the third-largest film industry in the world is located in Lagos, helping to generate the city’s wealth of USD 96 Billion.
Durban & Umhlanga, South Africa
Durban, a coastal city in eastern South Africa, generates most of its USD 54 Billion from healthcare, financial services, real estate, and transport.
Being one of the richest cities in Africa, Nairobi is also one of the cleanest and most developed cities on this continent. This city has a total wealth of USD 49 Billion, owing to its job market that is expanding at an exponential rate, particularly in the financial services, real estate, construction, tourism, telecommunications, and FMCG trades.
Pretoria, South Africa
Holding a total wealth of USD 45 Billion, Pretoria is South Africa’s administrative seat of government and academic hub. This South African city has a booming business in manufacturing, basic materials, and finance
Being one of the most expensive city for expats in the world, Luanda is also the eighth-richest city in Africa. Angola’s capital owes most of its USD 42 Billion to its new oil and real estate industries.
Casablanca’s manufacturing and financial services sectors have generated USD 39 Billion for this Moroccan city. Although Marrakesh is Morocco’s most known city, Casablanca is the one that makes the real money for the country.
Having USD 35 Billion, Ghana’s capital is one of the wealthiest cities in Africa. According to Naijaquest, 2300 millionaires and 100 multi-billionaires currently call Accra their home.
20 thoughts on “Top 10 richest cities in Africa this year”
Africa sounds very warm and beautiful ❤️
I have always had this thing for Egypt … they just fascinate me – I have always wanted to see Cairo ❤️
I can’t even imagine laying my own eyes on everything there!! Omg … my eyes would be so wide!! It would be pretty incredible!! For sure
Keep informing me of these warm climate places that I may one day settle upon lol
Egypt is really beautiful but not as magical as Hollywood shows us! Lol!
Thank you very much for your comment! 😍
Lol… I might have Hollywood eyes? In areas ? That could be it?? Some what …maybe little? lol … romanticized? Beautiful? Lol
But also I used to want to be an archeologist … I love watching all those documentaries lol (which drive my kids nuts lol)
So Egypt kinda fascinates me with that too ❤️
Many thanks for your very special and interesting post. I have been lucky enough to visit several of your mentioned cities and I ask myself about all the people, who do not have an advantage of this mentioned money! Very best regards
Wow! Good for you! Thank you very much for your comment! 😊
As an economist, I am definitely interested in finding out what is the driving force behind economies, but also any ethical issues too. I just saw this movie from the Marda Loop Justice Film Festival called Servitude and it was about how Brazil has basically never recovered from their history of enslaving Africans and it has lead to gross inequality and exploitation from capitalism and also labour trafficking their own people en masse. I am always suspicious about countries that are deemed economically prosperous. I just say, “Look closer!”
Technically I’m the last person who can call himself an expert in economic and politic matters. But I appreciate reading experts’ reviews like yours. So, is Brazil still exporting its own people as slaves or did I get that wrong?
Thank you! Still, nothing wrong with knowing about what countries are economically prosperous. Brazil isn’t exporting their people as slaves, but they are recruiting their citizens into jobs with wages far below the poverty line, while capitalists line their pockets. This trafficking has happened in the hundreds of thousands, and it got better for a while, but now it’s getting worse because of the rise of the far-right (of course 🙄)
That’s interesting to know. Thank you very much for the info.
You’re welcome! 👍
I think this happens, unfortunately, throughout the world. Thanks for your information!
I know it does. I have studied all this
and I am reading about this continuously:)
Me too! My favourite source is the World Economic Forum
Well, it’s certainly an important Forum in Davos, but I am in fact against all this potential economies! Please excuse me:)
Incredible! I live in Lagos, Nigeria. I didn’t even know this. But I have to say that Lagos is not Nigeria’s capital; Abuja is. I guess there’s a typo or something somewhere. This is one amazing post! Africa is beautiful. God bless Africa!
Thank you for your comment and mentioning my mistake. I was too sleepy last night when I was writing this post! Lol!
Hahahaha. I can totally relate with this.
I am glad Accra is part.
Thank you for your comment! 😊