What Is the Richest City in Africa?

Africa has several wealthy cities that billionaires and millionaires call home, including Cape Town, Lagos, Pretoria, Johannesburg, Nairobi, and Cairo.

However, which of them holds the title of the wealthiest city in Africa?

Johannesburg is the richest city on the African continent. It is also Gauteng Province’s provincial capital, the wealthiest province in the country.

The South African city is the largest single metropolitan contributor to the country’s national economic product.

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Why Is Johannesburg Rich?


Johannesburg is the richest African city because of its status as a commercial hub for businesses.

Most of the city’s wealth is in Sandton, the financial center of Johannesburg.

Sandton features major sectors that significantly influence the economy. Some sectors include professional services like consultancies and law firms and financial services like banks.

Most of Africa’s biggest banks and corporate establishments have their head offices in the South African town.

Aside from these, other sectors dominating the city are retail and wholesale trade, tourism, community and social services, and manufacturing.

These sectors drive capital and economic growth, contributing to the growing riches of Johannesburg.

Was Johannesburg Always Rich?

Johannesburg has a Zulu name called “eGoli,” translating to “city of gold.” The discovery of gold on the site in 1886 led to the town’s founding and its name.

Johannesburg produced much gold and once accounted for over 40% of the global annual production.

Despite its golden history, the city had humble beginnings and underwent four rebuilds to reach its current state.

Johannesburg skyline

It started as a tent camp and later became a town of tin shanties. The city then transformed into four-story Edwardian brick buildings before the final change into the modern skyscrapers.

Are there Billionaires in Johannesburg?

Johannesburg is home to thousands of US dollar millionaires. The South African financial center is also home to two billionaires:

Nicky Oppenheimer

Nick Oppenheimer is the richest man in Johannesburg and the second-richest one in the country.

Oppenheimer runs the city’s Fireblade Aviation and is the third-generation family member to run the De Beers Group.

Besides, his estimated net worth is $8.7 billion, derived from the diamond trade.

Patrice Motsepe

Patrice Motsepe is the wealthiest black South African, with an estimated net worth of $3.3 billion.

His wealth originates from mining, where he founded the diversified mining and minerals company, the African Rainbow Minerals.

Why Do Investors Like Johannesburg?


Johannesburg, also called Joburg, is the wealthiest city in Africa and an attractive destination for investors and businesses.

As mentioned earlier, the town also has the head offices of most of the biggest African corporate and banks.

The available resources and developed infrastructure make Johannesburg an attractive investment hub for businesses.

The following are three primary reasons why the city is likable to investors:

1. Johannesburg Stock Exchange

The South African city of gold houses the JSE, short for Johannesburg Stock Exchange. JSE is the largest stock market on the continent.

It is also among the top 20 exchanges globally, with a market capitalization in the trillions.

JSE offers a highly regulated trading setting, giving a higher degree of protection and transparency.

It also lets investors obtain efficient exposure to equity as an assent via listed shares.

2. Connecting Businesses

Trade and Investment

Johannesburg has a Trade and Investment Team within the Department of Economic Development.

This team boasts a strong partnership with the city entities and departments, ensuring a seamless investor experience.

It has the market intelligence, strategic alliances, and sector expertise to ascertain that your investments obtain the necessary approvals.

The team operates to help you start your business and immediately benefit from investing in Johannesburg.

This connection is available to different investments, including startups and experienced companies.

3. Promoting Trade and Investment

The Trade and Investment Unit is in charge of advancing the city as a preferred investment destination.

It promotes investment opportunities to foreign and domestic investors. The team also facilitates trade by helping local businesses to access global markets.

Besides, you can access efficient aftercare service and investor facilitation. These qualities make Johannesburg an attractive prospect to investors.

How Can You Become Rich in Johannesburg?

Become Rich in Johannesburg

Being wealthy does not mean the same thing as being rich. Many people wish to learn the secrets of how to become rich in Johannesburg.

However, few are ready to pay the steep price of building wealth.

Rich people possess sufficient assets to enable parents to afford a decent lifestyle for their children and themselves.

However, these riches usually do not last long enough to support their grandchildren. The wealthy change their cash into assets that generate additional assets and enough money to last until the fourth generation.

You can become wealthy by first getting rich. How can you achieve this in Johannesburg? Below are three means you can use to become rich:

Build Your Career

It is never easy to move up the corporate ladder, although it is not impossible either. You want to build your career by making connections and expanding your network with influential people in your industry.

It is wise to start with those already in your company.

Build Your Career

The wider your network is, the more opportunities you will have for getting investors and partnerships. Such chances let you grow your enterprise if you are a business owner.

You can also tap into their expertise to develop your skills and climb up the corporate ladder as an employee.

Create Wealth around Your Passion

People who go after their inborn gifts and talents are some of the wealthiest globally. Creating wealth around your passion lets you work while focusing on what you love.

It reduces the chances of boredom and frustration that typically come from doing jobs that do not suit your aptitudes.

Save for Investments

You can boost your chances of becoming rich in Johannesburg by starting to save money for investments earlier.

Financial discipline is critical to ensuring you stay on the path to success since investments require long-term dedication.

But where should you invest in Johannesburg?

invest in Johannesburg

1. Real Estate

Many wealthy South Africans purchase new investment properties from their group contributions, savings, or home loans.

Real estate investment presents an excellent opportunity to grow your wealth and become rich in Johannesburg.

One way is to purchase old and neglected properties and repair them before re-selling. You can also invest in real estate by offering properties you own for short-term rentals.

For instance, you can rent a home you do not frequently use as a short-term rental for a summer vacation.

2. Professional and Financial Services

Getting a job in a high-earning career is one way of getting rich in this South African city. You can consider professions in banking, accounting, computer science, law, actuarial science, engineering specialists, and medicine.

If your current job falls within these categories, you can further your studies to boost your specifications.

Financial Services

Building your education and skills offers promotion opportunities, making the investment in your career choice worthwhile.

3. Chemicals, Mining, and Farming

Some well-off South Africans enjoy investing in the chemicals, mining, and farming sectors.

Johannesburg is home to quality chemical manufacturing companies you can invest in, such as BASF, Air Liquide, Ecolab, and Givaudan.

Johannesburg mining companies you can consider investing in include:

· Anglo American

· Hatch

· Glencore


Farming also presents a good investment option when seeking to become rich in Johannesburg.

You can invest in profitable opportunities such as poultry, livestock, and fish farming that flourish in South Africa’s favorable climate.

profitable opportunities

Another investment option is to grow various medicinal herbs, trees, crops, and flowers to sell.

4. Telecommunications and Technology

You can get rich in the South African city by building your career online or starting a virtual business.

For instance, you can create an online platform that links mobile service providers to home-based customers.

This move can help you bridge the gap between tutors, cleaners, and beautician clients.

Another route you may take to build wealth is to get into software development and create mobile apps like games.

You can use your creativity level and knowledge to develop a gaming idea. After that, you can sell or place the product on Apple and Google Play Stores.

Developing commuter-driven online services is another method of getting rich in Johannesburg.

You can hire coders to help you create a website or app where commuters share information. They can inform each other about delays in specific parts of the city or traffic on public transport routes.

You can get your return on investment by charging users a subscription fee.

Telecommunications and Technology

What Attractions Exist in Johannesburg?

The city of gold is rapidly evolving into a vibrant hub for culture and arts from an edgy safari stopover.

This industrial and financial metropolis offers quality sites to attract locals and visitors to South Africa. These include:

1. Constitution Hill

Constitution Hill offers an interesting insight into South Africa’s history. The former prison overlooks Johannesburg.

You can view provocative displays at the Old Fort, Number Four, and Women’s Gaol museums.

It formed a brutal reputation from its harsh treatment of common criminals, political prisoners, and passive resistors.

Some famous prisoners at Constitution Hill included Mahatma Gandhi and Nelson Mandela.

The old Awaiting Trial building is currently the Constitutional Court of South Africa. It transformed into a freedom symbol that functions to protect everyone’s rights.

Visitors can watch the judicial process while attending hearings.

2. Soweto & Mandela House


The Southwestern Township, commonly shortened to Soweto, sits 20km southwest of Johannesburg.

It is the birthplace of the struggle for democracy and shows the journey of the fight for freedom. The current landscape also features mansions among shanties to reflect a land of contrasts.

You can find famous attractions such as the Mandela House, where the late president resided between 1946 and 1962.

The site also has the former home of another Nobel Peace Prize winner, Desmond Tutu. Soweto also houses the Hector Pieterson Memorial and Museum.

This site honors the students who protested apartheid in the Soweto Uprisings.

3. Walter Sisulu National Botanical Gardens

Walter Sisulu National Botanical Gardens offers the perfect getaway from the bustle of the city.

The site includes beautiful vistas of red-rock cliffs and the impressive Witpoortjie Waterfall. You can immerse yourself in nature and enjoy a serene slice of wilderness in a spacious setting.

4. The Maboneng Precinct

The Maboneng Precinct presents a perfect example of a mixed-use urban renewal project. Moreover, it features art galleries, hotels, funky restaurants, shops, cafés, and entertainment spots.

Maboneng Precinct

These venues blend with residential buildings smartly to give the site a unique ambiance.

The weekly Market on Main is Maboneng’s top attraction and offers food from over Africa.

Revolution House and Arts on Main are two of the area’s developments, transforming them into galleries, artists’ studios, and shops.

5. Pilanesberg National Park

This park provides a quality spot for a family outing where kids can see the African Big Five. You can also view sable antelopes, wild dogs, zebras, and over 300 bird species.

It sits 2.5 hours from Johannesburg and is among the most popular reserves in the country.

Pilanesberg National Park has a vibrant ecosystem and wildlife diversity. This setting is due to its position between the arid Kalahari Desert and the lush Lowveld vegetation.