Top 10 most affluent cities in Africa

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At a Glance

Africa’s affluent cities showcase strong economies, driven by innovation, tourism, finance, and industry, fostering regional and global growth opportunities.
Infrastructure development, including transport, housing, and amenities, positions these cities as thriving economic and cultural hubs in Africa.
Addressing social inequality is essential to ensure inclusive economic growth across Africa’s most affluent urban centers.

Africa, home to some of the world’s most vibrant and dynamic cities, is renowned for its rich cultural heritage and stunning natural landscapes.

Today, it is rapidly establishing itself as a global economic powerhouse, with its cities evolving into thriving centers of innovation, entrepreneurship, and growth.

This transformation is fueled by investments in infrastructure, technological advancements, and robust industrial growth.

Criteria for selection

GDP per Capita Gross Domestic Product (GDP) per capita is a vital metric for assessing the economic affluence of a city. It provides insight into the average income and standard of living of its residents. Cities with higher GDP per capita often enjoy better infrastructure, advanced industries, and a higher quality of life, making this indicator a cornerstone of our evaluation.

Cost of living While a high GDP per capita often signifies wealth, the cost of living is equally important in determining the relative affluence of a city. Cost of living indices measure the affordability of essentials like housing, food, transportation, and healthcare. Affluent cities often have higher costs of living, reflecting their status as economic and cultural hubs.

Infrastructure development Infrastructure—including transportation systems, housing, healthcare facilities, and recreational amenities—is a key determinant of a city’s affluence.

The well-developed infrastructure supports economic activity, improves the quality of life for residents, and attracts businesses and investors. Our list considers cities with significant investments and advancements in infrastructure.

As a result, several African cities have distinguished themselves as thriving economic centers. Shore Africa highlights the top ten most affluent cities in Africa, showcasing their unique contributions to the continent’s prosperity and global standing.

1. Johannesburg, South Africa

Often referred to as the “City of Gold,” Johannesburg is a financial hub for Africa. Its economy is bolstered by industries such as mining, finance, and manufacturing.

Johannesburg, South Africa is resident to over 12,000 top multi-millionaires, notable among them are Michiel Le Roux and Patrice Motsepe being Billionaires

The Johannesburg Stock Exchange (JSE), one of the largest in the world, is headquartered here.

With a well-developed transport network and modern amenities, Johannesburg offers an unparalleled quality of life, making it one of the most affluent cities on the continent.

2. Cape Town, South Africa

Cape Town is renowned for its stunning landscapes, vibrant culture, and robust economy. The city’s economic prosperity is driven by diverse sectors, including tourism, finance, and technology.

Cape Town, South Africa is home to over 7,400 high-worth investors , among them is South Africa’s richest man Johann Rupert

As a major tourist destination, Cape Town attracts millions of visitors annually, generating substantial revenue.

The city is also a hub for innovation, with a growing number of tech startups and research institutions. Its world-class infrastructure, including the Cape Town International Airport and efficient public transport systems, further cements its status as an affluent city.

3. Cairo, Egypt

Cairo, one of the oldest cities in the world, seamlessly blends historical significance with modern economic vitality.

Cairo is home to about 7,200 high-worth investors including Mohammed Mansour, Nassef, Samih and Yousef Sawiris ranking as Billionaires.

The city’s economy thrives on tourism, industry, and technology. Notable infrastructure projects, such as the New Administrative Capital, underscore Cairo’s growth ambitions.

Its bustling markets, cultural landmarks, and strategic location make it a magnet for trade and investment, further enhancing its affluence.

4. Nairobi, Kenya

Nairobi’s status as a regional economic hub is undeniable. The city is a leader in technology, finance, and entrepreneurship, earning it the nickname “Silicon Savannah.”

Nairobi, Kenya is home to numerous multinational companies with 4,400 high-worth investors

Nairobi is home to numerous multinational corporations and startups, driving innovation and job creation.

Infrastructure projects like the Nairobi Expressway and the expansion of Jomo Kenyatta International Airport highlight the city’s growth trajectory.

5. Lagos, Nigeria
GDP: N41 trillion ($26.5 billion)

As Africa’s largest city, Lagos is the heartbeat of Nigeria’s economy. It boasts a dynamic business environment, with significant contributions from the oil and gas industry, finance, and entrepreneurship.

Ikoyi is an affluent residential area in Lagos, Nigeria boasting excellent infrastructure with well-maintained roads, modern amenities, and high-end shopping centers.

Lagos’ Eko Atlantic City project exemplifies its commitment to infrastructure development and urban planning.

Despite its high cost of living, the city continues to attract investors and professionals from around the world, solidifying its position as a leading economic center in Africa.

6. Accra, Ghana

Accra is a vibrant city with a rapidly growing economy. Driven by sectors such as oil and gas, finance, and real estate, Accra has become a preferred destination for investors and expatriates.

Accra is the capital and largest city of Ghana, located on the southern coast of the country. It’s a vibrant and bustling metropolis, serving as the country’s economic and political center.

The city’s cultural richness and modern amenities, including luxury hotels and shopping centers, contribute to its allure.

Infrastructure projects like the Marine Drive Tourism and Investment Project are transforming Accra into a world-class city.

7. Casablanca, Morocco

Casablanca is Morocco’s economic powerhouse, with a strong presence in finance, industry, and tourism.

Casablanca, Morocco’s economic hub, blends modernity with tradition, thriving in finance, trade, and culture.

The city’s modern skyline, anchored by the iconic Hassan II Mosque, symbolizes its affluence. Casablanca Finance City, a leading financial hub, attracts global businesses and investors.

Its strategic location on the Atlantic coast and advanced infrastructure makes it a critical player in Africa’s economic landscape.

8. Dar es Salaam, Tanzania

Dar es Salaam, Tanzania’s largest city, is a thriving economic center.

Dar es Salaam, Tanzania: A vibrant coastal city, it serves as Tanzania’s economic hub, blending rich cultural heritage with rapid urban development.

Its economy is fueled by industries such as manufacturing, trade, and tourism. The city’s port, one of the busiest in East Africa, is a vital gateway for regional and international trade.

Investments in transportation and housing are transforming Dar es Salaam into a modern metropolis, contributing to its affluence.

9. Abuja, Nigeria: As Nigeria’s capital, Abuja boasts a growing economy driven by government spending, finance, and real estate.

As Nigeria’s capital, Abuja boasts a growing economy driven by government spending, finance, and real estate.

The city’s modern architecture, well-planned layout, and infrastructure projects, such as the Abuja Light Rail, reflect its status as an affluent city.

Abuja’s strategic importance as a political and economic center attracts investors and professionals from across the continent.

10. Luanda, Angola: Luanda, Angola’s capital, is one of Africa’s wealthiest cities, thanks to its oil-driven economy.

Luanda, Angola’s capital, is one of Africa’s wealthiest cities, thanks to its oil-driven economy.

The city’s skyline is dominated by modern skyscrapers, luxury hotels, and upscale shopping centers.

Despite challenges like income inequality and high living costs, Luanda’s infrastructure development and economic potential make it a standout city on the continent.

The top ten most affluent cities in Africa exemplify the continent’s potential for economic growth and development.

By prioritizing sustainable growth, infrastructure development, and social equity, these cities can continue to thrive and contribute to Africa’s global standing.

Feyisayo Ajayi

Feyisayo Ajayi is the Publisher and Co-founder of Shore Africa, the flagship media brand under the Travel Shore umbrella. He brings over a decade of multidisciplinary experience across media, finance, and technology. Feyisayo holds a bachelor’s degree in Geology from the University of Ibadan, Nigeria.