South Africa dominates list of Africa’s top 10 wealthiest cities – Report

Mon, 10 May 2021 Source: www.ghanaweb.com

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• The report is published by New World Wealth for Mauritius-based AfrAsia Bank

• Johannesburg is the wealthiest city in Africa

• The impact of COVID-19 is factored in the calculation since the data is for December 2020

South Africa took four slots in the list of Africa’s 10 wealthiest cities for 2020 including holding the top two slots thanks to Johannesburg and Cape Town in that order.

The cities of Durban and Pretoria also rank 5th and 7th respectively.

The Africa Wealth Report 2021 ranks the wealthiest cities in Africa in terms of private wealth held.

The report is published by New World Wealth for Mauritius-based AfrAsia Bank and defines the "total wealth" of a city as the private wealth held by all the individuals living in it.

It includes all their assets (property, cash, equities, business interests) less any liabilities. Government funds are excluded from the calculation.

The data is for December 2020 and, therefore, takes into account the impact of the Coronavirus outbreak.

Other contenders:

Two North African cities also made the cut with Cairo, Egypt in third and Cassablanca, Morocco in ninth.

With respect to West Africa, Lagos, Nigeria came up in fourth spot whiles Accra, Ghana was ranked 10th.

Kenyan capital Nairobi was ranked 6th, the sole East African country that made the cut whiles the other southern African capital that completed the list was Angolan capital, Luanda.

Top 10 wealthiest cities in Africa:

1. Johannesburg

2. Cape Town

3. Cairo

4. Lagos

5. Durban

6. Nairobi

7. Pretoria

8. Luanda

9. Casablanca

10. Accra

Source: www.ghanaweb.com