According to the poll, Africa's overall wealth has declined by 16 percent over the last decade (2010-2020) as a result of poor economic conditions in the continent's three biggest markets: South Africa, Egypt, and Nigeria.
In this article, the 2021 Africa Wealth Report from New World Wealth and AfrAsia Bank is used to examine Africa's wealthiest cities in terms of overall wealth.
Nairobi is the economic capital of East Africa and one of the world's fastest-growing cities. Runda Estate, Lavington, Kitisuru, Karen, and Muthaiga are all wealthy Nairobi neighborhoods. The city's principal industries include financial services, real estate, tourism, media, clothing, textiles, processed foods, beverages, and cigarettes.
Lagos is Africa's most populated city and the West African continent's commercial hub. lkoyi and Victoria Island are two upscale neighbourhoods in Lagos. The city's principal industries are basic commodities, oil and gas, transportation, and financial services.
Cairo, on the Nile River, is one of the most historically significant cities in the world. It is also home to Africa's largest concentration of billionaires. Telecommunications, retail, tourism, and basic commodities are all key sectors.
2. Cape Town.
The city, like Washington, D.C., or Berlin, has the highest premium residential rates on the continent, and various high-end lifestyle estates, such as Steenberg, Atlantic Beach, and Silverhurst Estate, are located there. Two of the most prominent sectors there are real estate and financial management.
Founded in 1886 during the Witwatersrand Gold Rush, this is Africa's wealthiest city. The JSE (Africa's largest stock exchange) and the headquarters of most of the continent's leading banks and firms are located in Sandton, where the majority of Johannesburg's wealth is concentrated. Two of the city's primary sectors are financial services (banks) and professional services (law firms, consultancies).
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