Africa is a continent of cities, with some cities being more wealthy than others. In this article we’ve learned about the wealthiest cities in Africa – from Johannesburg to Lagos and Nairobi. These cities have been given many different names but what they all have in common are their high levels of luxury living as well as expensive lifestyles that come along with it. This just goes to show how much wealth resides on this side of the world! If you’re looking for an African city where there’s plenty of opportunity and success, these 10 cities should be at the top of your list!
10. Tshwane, South Africa
Tshwane is a city in South Africa. It’s the capital of Gauteng, which is one of the wealthiest provinces in the country. With a population that has grown to more than 1.9 million people, Tshwane can be considered one of the cities with wealth because it has been successful in creating jobs and opportunities for its residents, who are diverse in languages spoken and ethnic backgrounds represented. As an example, Tshwane is also home to many international companies such as McDonald’s Corporation and Coca-Cola Company’s African headquarters. The cities on this list have all experienced economic growth through different means including mining, manufacturing industries and service sectors like tourism, finance and retail trade.
Tshwane began experiencing economic growth in the 1970’s when gold and uranium were found beneath the cities’ grasslands. Now, mining is one of Tshwane’s main industries. The city has also seen significant industrialization over time with foreign investors establishing South Africa’s first private satellite telecommunications company alongside other industrial companies. Now, Tshwane is home to 734 industrial sites that range from vehicle manufacturing to furniture building. The cities on this list have all experienced economic growth through different means including mining, manufacturing industries and service sectors like tourism, finance and retail trade.
9. Lagos, Nigeria
Lagos, Nigeria is the most populous city in Africa and one of the fastest-growing cities in the world. The population of Lagos has grown from just under 1 million inhabitants in 1950 to an estimated 21 million today (2015).
Lagos is a major financial center with many multinational companies operating within its borders.
It also serves as a global hub for entertainment and tourism. Home to 12% of Nigerian GDP, it accounts for 7% of total employment and 15% of manufacturing output nationwide. It surpassed Cairo as Africa’s largest metropolitan area by 2011 census figures, but cities such as Cairo are growing much more quickly than Lagos now due to their greater availability of land for development.
The city generates $60 billion worth of revenue, which is more than half of Nigeria’s annual gross domestic product.
8. Accra, Ghana
Accra is the capital of Ghana. It is the most populous city in Ghana, with a metropolitan area population of over 3 million people, which makes it the second largest urban agglomeration in Africa after Lagos. The city serves as an economic center and shopping destination for much of West Africa; its port handles large amounts of gold (about 90% of all African gold exports) and oil exports.
-Accra is home to one Fortune 500 company: state-owned crude oil marketing firm Petrocaribe. Apart from that, manufacturing accounts for more than half of all formal employment in Ghana’s cities – but this sector provides few jobs for unskilled workers or those without technical skills. With many skilled artisans migrating to cities looking for better jobs, Accra has started making efforts to attract more factories.
-Today, Accra is known as much for its culture and nightlife as it is for political violence and bureaucratic bottlenecks. It’s also an important transport hub in the region – almost every foreign company with business interests in West Africa uses Accra as their base for either regional or continental operations.
-Currently, Accra is ranked the 111th wealthiest city in the world (pop. over 1 million), with a GDP of $28 billion.
7. Pretoria, South Africa
Pretoria is the administrative capital and second largest city in South Africa. The name Pretoria comes from Piet Retief and Andries Pretorius, former Voortrekkers who founded the city in 1855. It’s also one of the cities with a population over 1 million people.
Pretoria is home to many large companies including Volkswagen, BMW, Daimler AG, ABSA Bank, Nedbank Group Limited as well as being an important economic hub for central South African trade routes.
The Tshwane metropolitan area which includes Pretoria has a population of approximately 2 million people making it one of the most populous cities on Earth!
6. Windhoek, Namibia
Windhoek is the capital and largest city of Namibia. It was founded in 1890 as a fort by German imperial troops under Otto von Diederichs, who named it after the then Prussian Prime Minister Leo von Caprivi. The name Windhoek means “the place where winds blow.”
The population of Windhoek has grown from 32,000 inhabitants in 1940 to about 209,000 people for 2010. This large population growth can be attributed to many factors such as immigration and natural increase but also because of the cities economic stability and its livability index which rates it among one of the highest cities in Africa on these scales.
Windhoek is home to over 52% of all Namibians living with a population of about 213,000 people.
5. Nairobi, Kenya
Nairobi is one of the wealthiest cities in Africa. The city’s rapid development over the last few decades has resulted in a stronger economy and an increased demand for better living standards. Nairobi is also home to many multinational companies, which have helped to improve its infrastructure and quality of life.
Nairobi is the capital and largest city of Kenya, with a population that exceeds 3 million people. It lies on the equator near the foot of Mount Kenya, at 2200 meters (7188 feet) above sea level in a rain shadow area (meaning it doesn’t get much rainfall). The name “Nairobi” comes from “Ni-roba” or “She Who Wears Jewels” in the Maasai language.
4. Kampala, Uganda
Kampala, Uganda is the largest and capital city of Uganda. It is also a region that has been at the heart of development in Africa for centuries. The city boasts an urban population of more than 1,500,000 people as well as a number of attractions to visit such as Kampala Museum and National Theatre. There are many things worth seeing in this beautiful country such as Murchison Falls (the largest waterfall on the continent), Mount Elgon National Park and Kidepo Valley National Park just to name a few.
The third wealthiest cities in Africa according to African Economic Outlook 2017-2018 report published by AfDB is Kampala which has reported Gross Domestic Product (GDP) per capita value US$1,624 in 2016.
3. Casablanca, Morocco
Casablanca is the economic capital of Morocco, and is the largest city in North Africa. It’s also one of the wealthiest cities in all of Africa. Casablanca has a population of over 3 million people, with an urban area that covers more than 2,000 square kilometers. The city was founded by Berber fishermen back in 1485 – but today it’s known for its booming textile industry, as well as its fast-growing port trade.
Casablanca may be one of the wealthiest cities on this list – but it’s still not immune to some serious problems like poverty and unemployment rates that are too high for comfort. But don’t worry! There are plenty more cities you can read about if you want to know even more about cities in Africa.
2. Cairo, Egypt
Cairo, Egypt is one of the wealthiest cities in Africa.
Cairo has a population of around 18 million people and an area of 590 km2. The city’s metropolitan area houses about 20% of Egypt’s population. Cairo became the capital city after Muhammad Ali was made khedive in 1805 by Abbas I, who had seized power from the Mamluks. Today it remains as both capital and largest city to this day even with its suburbs included into the Greater Cairo metropolis for census purposes; however, Alexandria is considered more economically important than Cairo itself now because of its port being so much larger than that of Cairo but still under control by Egyptian military authorities.
Cairo has many attractions including Islamic sites and museums and is one of the wealthiest cities in Africa.
1. Johannesburg, South Africa
Johannesburg is the largest city in South Africa, the wealthiest country on the continent, and one of the wealthiest cities in all of Africa. There are many reasons for its success. The most obvious reason for Johannesburg’s wealth has to do with gold. Gold mining was a major industry during apartheid when Africans were not allowed to work in mines but they did have ownership rights over land where mines existed. After apartheid ended, African miners took full advantage of their new freedom by becoming entrepreneurs themselves and building large-scale commercial gold mining operations that produce more than half of world’s supply today.
Johannesburg also benefits from being a financial center – it houses the headquarters of both Standard Bank Group and First National Bank, the continent’s second and fourth largest financial institutions. Johannesburg also benefits from supporting a high concentration of internationally recognized companies like Barclays Africa Group, Anglo American, De Beers, Old Mutual, MTN Group and Richemont.
As of May 2015, Joburg (as it is affectionately called by locals) has an estimated population of 4,434,827 and a metropolitan population of 7.4 million people.
The cities on this list are among the wealthiest cities in Africa and should be considered if you’re looking for a place to relocate. The cities offer high rates of GDP per capita, good infrastructure, and plenty of employment opportunities. If you think about moving abroad or need help with your international business expansion strategy, these cities may be worth considering.