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Top 10 Richest Cities In Africa

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Top 10 Richest Cities In Africa

Top 10 Richest Cities In Africa

Top 10 Richest Cities In Africa. As One Of The Best Continent In The World, Africa is blessed With Much Wealth. Africa Have Best Cities In The World.

1.Johannesburg
Also known as Joburg, the South African city is considered the wealthiest city in Africa with an estimated wealth of $248 billion. The city is home to few billionaires and about 16000 millionaires.

2.Cairo
One of the world’s most important cities historically is also home to more billionaires than any other city in Africa. The city accounts for 22% of Egypt’s economy.

3.Lagos
It is the most populous city in Africa with over 22 million inhabitants. Lagos has 2 dollar billionaires and over 5400 millionaires.

4.Nairobi
The capital of Kenya has a population of about 4.5 million people with an estimated total wealth of $49 billion. Nairobi is the wealthiest and most visited city in East Africa. There are about dollar 6200 millionaires living in the city.

6.Paarl Franschhoek & Stellenbosch
A large number of retired people in this category have moved to these towns over the past decade. The three cities together have a total wealth of $47 billion with 2800 millionaires and 2 dollar billionaires.

8. Pretoria-  The city is an administrative capital of South Africa and has a total wealth of $45 billion

9.Casablanca – It is the largest city in Morocco with an estimated population of 3.7 million people. It comes in 9th place with a total wealth of $39 billion, There are 2 dollar billionaires.

10.Accra – This is Ghana’s capital and the second west African country to make the cut.The West African city is a centre for manufacturing and marketing. are currently above 100 people in Accra with a net worth of $100 million.

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Business & Markets

MFS Africa acquires US-based global tech company

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MFS Africa acquires US-based global tech company

MFS Africa acquires US-based global tech company

MFS Africa acquires US-based global tech company.

In a rare acquisition of a US tech company by an African tech company, MFS Africa, Africa’s largest digital payments network, on Tuesday announced that it has reached an agreement to buy Global Technology Partners (GTP).

Based in Tulsa, Oklahoma, GTP is the number one processor for prepaid cards in Africa, with over 80 banks – including UBA, Ecobank, BIA, Stanbic, Coris, NSIA and Zenith Bank – using its platform. GTP’s client base covers 34 countries and is fully connected to the Visa, Mastercard, GIM, GIMAC and Verve networks for which it provides the processing.

This acquisition enables MFS Africa to further deepen its offering to Africa’s gig economy, the business travel market and the millions who eagerly want to participate in the global digital commerce through card credentials linked to mobile money wallets – rather than bank accounts – for seamless and secure online purchases. It also expands MFS Africa’s bank and fintech base and provides tokenisation for the mobile money world in connection with the traditional card scheme ecosystems such as Visa and Mastercard.

Founder and CEO of MFS Africa, Dare Okoudjou, said: “This is a momentous milestone for us and Africa’s tech ecosystem – on many levels. It’s something of a first for an African tech company to acquire a US tech company of GTP’s size and stature, and we’re delighted to be welcoming the GTP team to the MFS Africa family. Their expertise enables us to extend our value proposition of last-mile connectivity to African banks and to accelerate our offering of card connectivity to mobile money users and other fintech companies operating across the continent. The combined operations have immense and exciting growth potential, and with our extended portfolio, we are now truly an omnichannel payments company.”

Robert Merrick, founder and chairman of Global Technology Partners, commented: “GTP’s established position as Africa’s number one prepaid card processor has been built on its unique, flexible platform that actively helps prepaid cards to succeed. We have become the leader of prepaid cards in Africa because of our people, who have genuine in-depth knowledge not only of the prepaid card business but also of the realities that African card users face. We connect the right solution to the right markets with the right products. MFS Africa is an ideal home for GTP, and we are focused on adding new features and functionalities to our platform, signing up new clients, expanding into new countries, driving growth and making a significant contribution to growing MFS Africa’s business and its network of networks.”

Following GTP’s acquisition, MFS Africa plans to further invest in GTP’s current card programmes with banks and bring to these all the innovation and possibilities offered by the MFS Africa HUB – including seamless interoperability with Mobile Money.

The company will also leverage GTP’s stack to fast-track card programmes for MNOs and FinTechs across Africa. Lastly, MFS Africa intends to leverage GTP’s presence in the USA to expand its commercial activities in North America.

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