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The City of Durban has been named the fifth wealthiest city in Africa. Image: Denver Govender (Snapout Photography)

Durban Named 5th Wealthiest City in Africa!

“We will not rest until we claim a spot in the top three.”
That was the upbeat reaction from the MEC for Economic Development, Tourism and Environmental Affairs, Mr. Sihle Zikalala, to news that Durban had been named as the fifth wealthiest city in Africa.

According to the Afr-Asia Bank’s 2018 Africa Wealth Report, Durban’s wealth stands at a whopping R819-billion.

“This clearly shows that Durban is a city on the rise. It will be remembered that earlier this year we were voted as the most liveable city in South Africa. This latest listing as the fifth wealthiest city on the continent speaks volumes about the quality of investments in the city and the province of KwaZulu-Natal.”

Looking ahead, Zikalala said, the aim was to ensure that other cities as well in the province also benefited from the upsurge in wealth.

“We have a strategy in place to woo investors into to areas such as Richards Bay, Port Sheptstone and Newcastle so that the economies of these towns also improve.”

Zikalala is currently leading a team of KZN investors on an investment attraction drive in China.

About 5 Star Durban

5 Star Durban
Showcasing the best of the beautiful sunny city of Durban and surrounding KwaZulu-Natal on the east coast of South Africa

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