Top 23 African Cities with the Highest Number of Billionaires...See Where Lagos, Abuja Ranked

File photo: Lekki, Lagos, Nigeria

 

AfraAsia Bank's Africa Wealth Report 2017 has made a comparison of 23 African cities with the highest number of billionaires as at the year 2016.

 

In the list of 23 countries, Lagos, Nigeria's former capital came 4th, only topped by two South-African cities; Johannesburg and Cape Town as well as the Egyptian city of Cairo.

 

Here is the list of cities and the number of multi-millionaires they have respectively:

 

1. Johannesburg (incl. Sandton) - 970

2. Cairo - 480

3. Cape Town - 440

4. Lagos - 360

5. Nairobi - 280

6. Luanda - 240

7. Durban (incl. Umhlanga) - 130

8. Pretoria - 110

9. Casablanca - 110

10. Accra - 100

11. Abidjan - 90

12. Algiers - 90

13. Alexandria - 110

14. Windhoek - 60

15. Dar Es Salaam - 50

16. Gaborone - 50

17. Mombasa - 40

18. Abuja - 40

19. Addis Ababa - 40

20. Kampala - 40

21. Maputo - 40

22. Lusaka - 30

23. Marrakesh - 30

 

With no other Nigerian cities listed, the nation’s commercial nerve-centre automatically clinches the wealthiest spot among Nigerian major cities.

 

The report is the result of New World Wealth’s extensive research covering the wealth market in Africa which report covers wealth, luxury, prime property, collectable and wealth management trends on the continent from 2006 to 2016, with projections to 2026. 

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Shocking! African President Goes Missing After Attending United Nations General Assembly Meeting (Photo)

The people of Malawi are in deep distress after their President, Peter Mutharika went missing for almost a month now.

President of Malawi, Peter Mutharika

 

The President of Malawi, Peter Mutharika has gone missing for nearly a month. 

 

The President according to AP has been out of the country for almost a month, prompting demands for him to explain what critics call his “absence without leave.”

 

However, many have suggested that the President might be in serious health crisis. The statehouse this week announced that the President will return home on Sunday.

 

Mutharika went missing nearly a month ago after he had addressed U.N. gathering of world leaders in late September in the United States .

 

The government has denied rumors that Mutharika is critically ill. The country’s information minister has described the rumors as “baseless, malicious and sickening” and threatened those spreading false rumors with arrest, AP further reported.

 

Malawi’s Parliament wants the president to disclose all expenses incurred on his tour, including those of his entourage.

 

Meanwhile, some concerned citizens have taken to Twitter to express anger and disgust over the sudden disappearance of the president. A hashtag #BringBackMutharika has seen many Malawians express their anger at the sudden disappearance of Mutharika.

 

Malawians last saw Mutharika when he delivered a speech to the UN General Assembly, calling for international assistance to address hunger in his country.

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Photos: Pres. Buhari At The Opening Ceremony Of The 6th Tokyo International Conference On African Development

President Muhammadu Buhari joined other African leaders to attend the opening ceremony of the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya. More photos below...

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CBN Governor Emerges President Of African Central Banks

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been elected as the President of the Association of African Central Banks (AACB). Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of the AACB, will be president of the association for the year 2016 to 2017.

This is contained in a communiqué issued in Abuja yesterday, adding that he would succeed Lucas Nchama, Governor of the Banque des tats de l’Afrique Centrale (BEAC).

To work with Emefiele are the governor of the Bank of Ghana as chairman of the West African sub-region; governor of the Central Bank of Mauritania, chairman of the North African sub-region; and the governor of the Bank of Central African States, chairman of the central African sub-region.

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Nigeria to Sign Visa-free Pact with 8 Countries...See Exciting Details

The Nigerian government has moved to cement its trade relationship with sister African countries by ensuring free passage.

Mr Geoffrey Onyeama

  

The Minister of Foreign Affairs, Mr Geoffrey Onyeama, says plans have been concluded to sign visa-free pacts with a bloc of eight African countries to promote economic partnership on the continent.

 

Onyeama announced this in Abuja on Tuesday at a news confernce to mark one year of President Muhammadu Buhari’s Administration. The minister, who did not disclose the names of the countries making up the bloc, noted with concern that trading among African countries had been very low. He, however, said that with the new idea by the President Mohammadu Buhari led administration.

 

“it is expected that there will be upsurge in economic activities.

“Africa is the centrepiece of our foreign policy but it is a paradox that as a Nigerian, you cannot go to an African country without a visa unlike what is obtainable in Western Europe.

“To address this as a leader in the continent, the country is at a point of introducing an initiative to promote African trade as part of the country’s foreign policy of Africa as the centrepiece”, he said.

 

Onyeama said Nigeria was trying to come up with an initiative, like the one in Western Europe where one could enter any sister country without a visa. According to him, what we are trying to do at the ministry is to promote visa-free, free movement of business people.

“We want to start with about eight countries or see if they come up as a group of eight countries. At the presidential level, they agreed to that, and signed up to free movement.

“If we can achieve that within a year, then other countries may want to join and we believe this is a better way to go than institutional ECOWAS etc, as countries take so long to ratify agreements.

“We believe we can just start off, eight countries and they agree among themselves, then others will come in,” he said. Onyeama also added that it would not help if the continent continued to export just raw materials to developed nations.

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