Africa is definitely home to thriving economies and this extensive and detailed report released by AfrAsia Bank buttresses the fact.
The AfrAsia Bank Africa Wealth Report 2018 covers areas including wealth, prime property as well as wealth management trends from 2007 to 2017 with forecasts to 2027.
In reviewing and ranking the wealthiest cities on the continent, AfrAsia Bank based their metrics on total wealth held.
Total wealth, according to AfrAsia Bank refers to the wealth (property, cash, equities, business interests) held by people residing in the cities. Government funds were omitted from the report.
Scroll through to read about the top 5 wealthiest cities in Africa:
Total Wealth: $140 billion
Major Sectors: Real estate & construction, financial services and basic materials.
Total Wealth: $108 billion
Major Sectors: Basic materials, real estate & construction, telecoms, transport and financial services.
Figures for Durban cover Umhlanga, Ballito, Zimbali and La Lucia.
Total Wealth: $55 billion
Major Sectors: Real estate, finance, healthcare, construction, retail and transport.
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