DURBAN – New World Wealth has released their Africa Wealth Report for 2018 that features African trends in wealth, luxury, prime property and wealth management.
The report covers a 10-year period from 2007 to 2018 and it makes projections to 2027.
Highlighted in the report is a list is a list of the Top 10 wealthiest cities in Africa according to total wealth held.
Total wealth refers to the private wealth that individuals in each city hold including property, cash and business equities among other things.
The three South African cities Johannesburg, Cape Town and Durban filled positions one, two and five respectively while Cairo and Lagos in third and fourth positions completed the top five.
The total wealth held in Johannesburg is $276 billion while other South African cities Cape Town and Durban held a total wealth of $155 million and $55 million.