The African economy is diverse and complex, with a range of industries and sectors contributing to the overall growth and development of the continent. Some of the main sectors of the African economy include agriculture, manufacturing, trade, and services.
1. Agriculture: – is a key sector of the African economy, with many countries relying on crops such as corn, wheat, and rice for their primary income. In addition to these staples, many African countries also grow other crops, such as coffee, cocoa, and tobacco, which are exported to other countries worldwide.
2. Manufacturing: is another important sector of the African economy, with many countries producing a range of products such as textiles, electronics, and machinery. The African manufacturing sector is increasing, with many countries investing in new factories and technology to improve productivity and efficiency.
3. Trade: is also a significant contributor to the African economy, with many countries exporting a range of goods and services to other countries worldwide. Major exports from Africa include oil, minerals, and agricultural products.
4. Services: this sector is growing in Africa, with many countries investing in developing their infrastructure and transportation networks. This includes improvements to roads, ports, and airports and expanding internet and telecommunications networks.
The Richest Places in Africa
Wealthy cities in Africa are usually major financial and commercial hubs, as well as popular tourist destinations.
Several factors contribute to a city's wealth in Africa, including the following:
- Economic diversity
- Natural resources
- Tourism
Richest Countries in Africa
The 2022 Africa Wealth report reveals that some of the wealthies city in Africa are in the following countries.
- South Africa: 651 Billion
- Egypt: 307 Billion
- Nigeria: 228 Billion
- Morocco: 125 Billion
According to the report, sectors that contribute most to the GDP of the richest countries in Africa include services (47%), industry (27%), and agriculture (16%)
20 Richest Cities In Africa
There are several wealthy cities in Africa, and each has its own unique set of reasons for being so prosperous within its respective region.
Below is a brief of the wealthiest cities in Africa — represented by region.
Northern Africa
#1. – Alexandria, Egypt
Alexandria is a city located on the Mediterranean coast in northern Egypt. Alexandria is the second-largest city in the country, boasting a population of approximately 5 million people.
Historical sites in Alexandria include the Alexandria National Museum, the Qaitbay Citadel, and the Montazah Palace. Local industry in the city consists of tourism, manufacturing, and shipping.
#2. – Cairo, Egypt
Cairo, Egypt, is a large city with a population of over 9 million people. It is not only the capital, but it is also the largest city in Egypt, and it is located on the Nile River in northeastern Africa.
Cairo has many amenities, including museums, parks, shopping centers, and restaurants. There are also numerous cultural and entertainment venues in the city, including theaters, music venues, and sporting events.
There are also many historical sites in Cairo, including the Pyramids of Giza, the Cairo Citadel, and the Egyptian Museum. These sites offer visitors a chance to revisit the history and culture of ancient Egypt.
#3. – Casablanca, Morocco
Casablanca, Morocco, is the largest city in the region, with a population of over 3.4 million people. The city is located on the Atlantic coast of Morocco and is a significant economic hub for the country.
The city of Casablanca got its name from the Portuguese phrase “Casa Branca,” which means “white house.” This name was given to the city due to a large white building in the area, which was used as a fortress by the Portuguese in the 16th century.
The local industry in Casablanca is diverse, focusing on finance, tourism, and technology. The city houses a number of major banks and financial institutions, as well as several international corporations.
#4. – Giza, Egypt
According to the Africa Wealth Report 2022, Giza, Egypt, is a large city located on the west bank of the Nile River. Giza has a population of over 2.6 million people.
The city of Giza got its name from the ancient Egyptian city of Giza, which was known for its pyramids and other ancient sites. Giza is located in the Giza Governorate, which is one of the 27 governorates of Egypt.
Giza has a number of amenities and venues, including shopping centers, restaurants, parks, and cultural centers. It is also home to several historical sites, including the Great Pyramids of Giza and the Sphinx, some of the oldest and most famous landmarks in the world.
Local industry in Giza includes tourism, agriculture, and manufacturing. The city is known for its pyramids and other ancient sites, attracting millions of tourists yearly.
Giza is also a major agricultural center, with several farms and irrigation systems in the surrounding area.
#5. – Tunis, Tunisia
Tunis is the capital and largest city of Tunisia, with a population of over 2 million people. It is located on the country's northeastern coast, on the Gulf of Tunis. Its name is derived from the ancient Phoenician city of Tunes, which was founded in the 9th century BC.
It has a long and rich history, with influences from various cultures, including Phoenicians, Romans, Byzantines, and Arabs. Tunis's Amenities include various shopping centers, restaurants, parks, and museums. The city also has several universities, hospitals, and cultural centers.
Venues in Tunis include the National Theatre of Tunis, the Tunis Museum of Modern Art, and the Tunis Carthage International Airport.
Historical sites in Tunis include the Bardo National Museum, which houses a collection of ancient mosaics and artifacts, and the Medina of Tunis, a UNESCO World Heritage Site home to some historic mosques, palaces, and homes.
South Africa
#6. – Cape Town, South Africa
Cape Town, South Africa, is quite large, with a population of over 4 million people. It is the second most populous city in South Africa and is known for its diverse culture, beautiful landscapes, and vibrant arts and entertainment scene.
The city of Cape Town gets its name from the Cape of Good Hope, a rocky headland located at the southern tip of the African continent. It was named by Portuguese navigators in the 15th century and has been an important trading and shipping port for centuries.
Cape Town has many historical sites, including the iconic Table Mountain, the Castle of Good Hope, and the District Six Museum. These sites offer a glimpse into the city's rich history and cultural heritage.
#7. – Durban, South Africa
The city of Durban, South Africa, is quite large, with a population of over 3.5 million. As the third most populous city in South Africa, it is known for its warm, subtropical climate, beautiful beaches, and diverse culture.
Durban got its name from Sir Benjamin D'Urban, who served as the Governor of the Cape Colony in the early 19th century. The city was initially called Port Natal but was renamed in honor of D'Urban after he visited in 1835.
There are several nearby cities to Durban, including Pietermaritzburg, Pinetown, and Hillcrest. These cities are located in the KwaZulu-Natal province of South Africa and are known for their beautiful natural landscapes, cultural attractions, and historical sites.
#8. – Johannesburg, South Africa
Johannesburg, also known as Jo'burg or Jozi, is the largest city in South Africa and is the provincial capital of Gauteng. We know it as the economic hub of South Africa and the entire African continent, with over 4.4 million people.
It offers a range of amenities, including shopping centers, cultural attractions, parks, and sporting facilities. The city is home to many museums, art galleries, and theaters, as well as several universities and other educational institutions.
#9. – Port Elizabeth, South Africa
Port Elizabeth, South Africa, is a medium-sized city with a population of around 1.3 million people. It is on the east coast of South Africa and is known for its beautiful beaches, warm climate, and laid-back atmosphere.
The city got its name from Sir Rufane Donkin. He was the Acting Governor of the Cape Colony in the early 19th century. The city was named after his late wife, Elizabeth, and has been known as Port Elizabeth ever since.
Port Elizabeth is home to many amenities, including parks, beaches, cultural centers, and shopping malls. The city also has numerous sporting venues, including the Nelson Mandela Bay Stadium and the Theodore Yach Aquatic Centre.
The local industry in Port Elizabeth is diverse, with a strong focus on manufacturing, tourism, and technology.
#10. – Pretoria, South Africa
Pretoria, South Africa, is quite large, with a population of over 2.9 million people. It is the third most populated city in South Africa and is known for its beautiful gardens, cultural diversity, and rich history.
Pretoria got its name from Andries Pretorius, a leader of the Boer settlers who founded the city in the 19th century. It was initially named Pretoria Philadelphia and was later shortened to Pretoria.
The local industry in Pretoria is diverse, with a strong focus on manufacturing, technology, and government services. The city is home to multinational companies and government agencies and has a thriving innovation and entrepreneurship scene.
#11. – Tshwane, South Africa
According to the Africa Wealth Report 2022, Tshwane, South Africa, has a population of over 3 million people. It is located in the Gauteng province and is the capital city of South Africa.
The city of Tshwane got its name from a chief of the Tswana people, Chief Tshwane. The city was originally known as Pretoria, but the name was changed in 2005 to reflect its diverse population and cultural history.
Tshwane is home to numerous amenities, including shopping centers, restaurants, parks, and cultural attractions. Some popular venues in the city include the Sun Arena, the State Theatre, and the Pretoria Zoo.
Eastern Africa
#12. – Adis Ababa, Ethiopia
According to the Africa Wealth Report 2022, Adis Ababa is the largest city in Ethiopia, with a population of over 3.5 million people. It is the capital and economic hub of the country, known for its diverse culture and history.
The city of Adis Ababa came from the Amharic language, which means “new flower.” It was founded in the late 19th century by Emperor Menelik II and became the capital of the Ethiopian Empire in 1887.
Local industry in Adis Ababa includes textiles, leather goods, and agricultural products such as coffee and flowers. The city is also home to several international organizations and embassies, contributing to its diverse global economy.
#13. – Dar es Salaam, Tanzania
We know Dar es Salaam as the largest city in Tanzania, with a population of over 6.5 million people. It is situated on the east coast of Africa and is the country's principal port and commercial hub.
The city got its name from the Swahili phrase “dar es salaam,” which means “haven of peace.” Sultan Seyyid Majid of Zanzibar gave this name to the city, and founded the city in the 19th century.
Dar es Salaam is home to several venues, including the National Stadium, the Uhuru Stadium, and the Azam Sports Complex. These venues are used for sporting events, concerts, and other large-scale events.
The local industry in Dar es Salaam is diverse, with sectors such as manufacturing, trade, tourism, and agriculture contributing to the city's economy.
#14. – Maputo, Mozmbique
Maputo, Mozambique, is the capital and largest city of Mozambique. It is in the southern part of the country and has a population of around 1.5 million.
Maputo got its name from the Maputo River, which flows through the city. The term “Maputo” is derived from the Tsonga word “Cavuto,” which means “place of the sand river.”
Maputo has a rich history, and there are several historical sites to visit. These include the Maputo Fortress, the Maputo Cathedral, and Independence Square.
The local industry in Maputo includes agriculture, manufacturing, and tourism. The city is also houses the port of Maputo, which is a central hub for trade in the region.
#15. – Nairobi, Kenya
Nairobi, Kenya, is the capital and largest city of the country, with a population of over 4 million people. It is the economic hub of East Africa.
The city got its name from the Maasai phrase “enkare Nairobi,” which means “cool water” about the Nairobi River that flows through the town.
Local industry in Nairobi includes banking, telecommunications, and tourism. The city is also home to several manufacturing and processing plants.
Western Africa
#16. – Abidjan, Cote d'Ivoire
Abidjan is the largest city in Côte d'Ivoire and is located on the Atlantic coast in the eastern part of the country. It is the economic and cultural capital of Côte d'Ivoire and has a population of over 4 million people.
The city of Abidjan got its name from the Abidjan Lagoon, which is located in the town. The lagoon is named after the Abidjan tribe, who lived in the area before the city was founded.
The local industry in Abidjan includes manufacturing, agriculture, and tourism. Abidjan is also home to a number of banks and financial institutions.
#17. – Accra, Ghana
Accra, Ghana, is the capital and largest city, boasting a population of over 4 million people. The city got its name from the Akan word “Nkran,” which means “ants,” due to the numerous anthills in the area.
This South African city has a variety of amenities, including shopping centers, restaurants, and parks. There are also several venues in the city, including Independence Square and the Labadi Beach Hotel.
There are several historical sites in Accra, including the Independence Arch, built to commemorate Ghana's independence from British rule, and the James Town Lighthouse, built in 1875.
#18. – Lagos, Nigeria
Lagos, Nigeria, is the largest in Africa, with a population of over 21 million people. Lagos got its name from the Portuguese word “lago,” which means “lake.” It was originally founded as a port city in the 16th century by Portuguese explorers, who named it after the nearby Lagos Lagoon.
Venues in Lagos include the Eko Convention Center, the Lagos State University Auditorium, and the National Stadium. Historical sites in Lagos include Freedom Park, the National Museum, and the Lagos Island Lighthouse.
The local industry in Lagos is diverse, with a strong focus on manufacturing, oil and gas, and banking. There are also many small businesses and startups in the city.
Central Africa
#19. – Kinshasa, Democratic Republic of the Congo
Kinshasa, located in the Democratic Republic of the Congo, is the third-largest city in Africa, with a population of approximately 12.5 million.
Historical sites in Kinshasa include the Monument of Independence, commemorating the country's independence from Belgium in 1960, and the Museum of Art and Tradition, which houses a collection of traditional Congolese art.
#20. – Luanda, Angola
According to the Africa Wealth Report 2022, the city of Luanda, Angola, is the country's largest population, with over 6.5 million people. The city is located on the Atlantic coast of Angola and is the country's capital.
Amenities in Luanda include a variety of shopping centers, restaurants, and cultural attractions such as museums and galleries. The city also has many parks, green spaces, sporting venues, and facilities for outdoor recreation.
Historical sites in Luanda include the Museum of Slavery and the Fortaleza de São Miguel, located in the city center. There are also a number of churches and temples in the city, including the Cathedral of Our Lady of the Assumption, which is a major landmark.
