Total wealth refers to the private wealth that individuals in every city hold including property, money, shares and commercial interests.
This is the definition of the 2018 Africa Wealth Report, which was released in September and featured African trends in terms of wealth, luxury, primary ownership and asset management. The report covers a period of 10 years from 2007 to 2018 and makes projections up to 2027.
The report highlighted the list of the 10 richest cities in Africa based on total wealth held. For the purposes of this report, the wealth of a country includes all the people who work or live there, including expatriates.
The total individual wealth held in Africa amounts to about $ 2.3 trillion and is expected to increase by 34% over the next 10 years, reaching $ 3.1 trillion at the end of 2027.
The cities of major economies, as expected, dominate the list of the richest cities in Africa, with the specific sector highlighted as the main drivers.
Discover the sectors that drive the top 10 richest cities on the continent: