Real Estate Investor Magazine South Africa October 2018 | Page 12

COVER FEATURE
Africa Wealth Report
Wealth Management trends in
luxury and prime property
BY EDITORIAL
T
he  Africa 2018 Wealth Report  provides insights on
wealth trends in Africa over the past 10 years, with
projections for the next 10 years. The report provides
comprehensive wealth breakdowns for 17 African countries
and 23 African cities.
Total individual wealth held in Africa currently amounts to
around US$2.3 trillion. This figure is expected to rise by 34%
over the next 10 years, reaching US$3.1 trillion by the end of
2027. We expect Mauritius, Ghana, Rwanda and Uganda to be
the strongest performing wealth markets in Africa during this
period (90% to 150% growth rates).
As part of the report, the wealthiest cities in Africa are
reviewed by total wealth held. “Total wealth” refers to the
private wealth held by all the individuals living in each city.
It includes all their assets (property, cash, equities, business
interests) less any liabilities. We exclude government funds
from our figures.
Wealth bands
Billionaires – Those individuals with net assets of $US 1
billion or more
Centi-millionaires – Those individuals with net assets of
$100 million or more (320 people)
Multi-millionaires – Those individuals with net assets of $10
million or more (7,100 people)
Millionaires/High Net Worth Individuals (HNWI’s)
– Those individuals with net assets of $1 million or more
(148,000 people)
Top 10 cities
Johannesburg:  Total wealth held in the city amounts to
US$276 billion. Our figures for Johannesburg include
Sandton. Major sectors in the city include: financial services
(banks), professional services (law firms, consultancies),
construction, telecoms and basic materials.
Cape Town:  Total wealth held in the city amounts to
US$155 billion. Major sectors in the city include: real estate,
financial services (fund management), retail and tourism. 
Cairo:  Total wealth held in the city amounts to US$140
billion. Major sectors in the city include: real estate &
construction, financial services and basic materials.
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OCTOBER/NOVEMBER 2018 SA Real Estate Investor Magazine
Lagos:  Total wealth held in the city amounts to US$108
billion. Major sectors in the city include: basic materials,
real estate & construction, telecoms, transport and financial
services.
Durban: Total wealth held in the city amounts to US$55
billion. Our figures for Durban include Umhlanga, Ballito,
Zimbali and La Lucia. Major sectors in the city include: real
estate, finance, healthcare, construction, retail and transport.
Nairobi: Total wealth held in the city amounts to US$54
billion. Major sectors in the city include: financial services, real
estate & construction, retail, tourism, FMCG, telecoms and
basic materials.
Luanda: Total wealth held in the city amounts to US$49
billion. Major sectors in the city include: real estate &
construction, transport and basic materials (oil & gas).
Pretoria: Total wealth held in the city amounts to US$48
billion. Major sectors in the city include: basic materials,
manufacturing and financial services.
Casablanca:  Total wealth held in the city amounts to
US$42 billion Major sectors in the city include: basic materials,
manufacturing and financial services.
Accra:  Total wealth held in the city amounts to US$38
billion. Major sectors in the city include: basic materials,
manufacturing and financial services.
Key findings
• Top African country by average wealth per person:
Mauritius at $32,700.
• Top African country by total wealth: South Africa at $722
billion.
• Top African city by total wealth: Johannesburg at $276
billion (includes Sandton).
• Most expensive African city for prime residential property:
Cape Town at $6,100 per square meter.
• Safest countries in Africa: Mauritius, Botswana and
Namibia.
Prime property trends
Residential property normally constitutes between 30 and