(3 minutes read)
Johannesburg occupied the top slot in the pecking order characterised by the presence of the oldest stock exchange, gold trails, and presence of a large network of internationally reputed banks. Cairo, the capital city of Egypt, comes second, although its rating is far below that of Johannesburg
Henley & Partners, a consultancy involved in ranking African cities has come out with its latest annual report, wherein cities are ranked in accordance with the creation of wealth and the number of wealthy residents. The report, titled Africa Wealth Report has been prepared in collaboration with New World Wealth. While ranking the cities, the Report has taken into account trends in high-net-worth individuals, luxury and wealth management, and economic mobility in the continent, along with insights from the experts about peculiar attributes of the cities in creating an enabling environment for wealth creation.
Johannesburg occupied the top slot in the pecking order characterised by the presence of the oldest stock exchange, gold trails, and presence of a large network of internationally reputed banks. Cairo, the capital city of Egypt, comes second, although its rating is far below that of Johannesburg. Having the highest number of billionaires, the city has a strong network of companies, particularly those involved in financial services, telecommunications, and tourism.
Read Also:
The other high-ranking cities include Cape Town, Lagos, Nairobi, Durban, Casablanca, Pretoria, Accra and Luanda in that order. South Africa accounted for the largest number of cities topping the wealth list.
