Tag Archive for: Johannesburg

Andrew Stegmann

New African Wealth Report Reveals The Richest Cities on the Continent

New World Wealth and AfrAsia Bank have published the latest African Wealth Report, showing the levels of wealth of various African nations at the end of 2018.

According to the report, South Africa is still the richest country in Africa, with the high net worth (HNWI) population of 39,200 people holding the most wealth at $649 billion.

This is double that of the second wealthiest African nation, Egypt, where the HNWI population of 16,700 people holds $303 billion.

Egypt is followed by Nigeria ($225 billion), Morocco ($114 billion) and Kenya ($93 billion).

Total wealth held on the continent amounts to US$2.2 trillion. Around US$920 billion (42%) of this is held by HNWIs, New World Wealth said.

While South Africa ranks at the top of the list, on a per capita basis ($11,450), it is only the second wealthiest nation – following behind Mauritius, where wealth per capita sits at $31,000.

Africa’s richest cities

South African cities ranks as the top richest cities on the continent, with Johannesburg and Cape Town holding the most HNWI wealth among the major cities covered, taking the first and second spots, respectively.

Total wealth held in Johannesburg amounts to US$248 billion, while total wealth held by Cape Town amounting to US$133 billion.

Most of Johannesburg’s wealth is concentrated in Sandton, New World Wealth said, which is home to the JSE (the largest stock market in Africa) and to the head offices of most of Africa’s largest banks and corporates.

Cape Town, meanwhile, is home to Africa’s most exclusive and expensive suburbs such as Clifton, Bishopscourt, Camps Bay and Bantry Bay. It is also a hotspot for wealthy second home owners from around the world. Major sectors there include: real estate, financial services (fund management), retail and tourism.

Also in the top five from South Africa is Durban and Umhlanga (combined), which holds total HNWI wealth of US$54 billion.

This figure includes wealth held in Durban, Umhlanga, La Lucia and Ballito. Notably, Umhlanga and Ballito are two of the fastest growing areas in SA, in terms of wealth growth over the past 10 years, the group said.

Among other African countries, Cairo (Egypt), Lagos (Nigeria) and Nairobi (Kenya) stand out as wealthy cities, sitting on par with South Africa’s popular HNWI areas.

Total wealth held in Cairo amounts to US$129 billion – and the city is home to more billionaires than any other African city (four billionaires live there, compared to just two in Johannesburg).

In Lagos, total wealth held in the city amounts to US$96 billion. This is the largest city in Africa, in terms of population and GDP (but not in terms of wealth).

The richest cities in Africa.

The richest areas in South Africa.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].

Andrew Stegmann

ANC National Executive Committee (NEC) Announced

Written by Quintin Coetzee

As the African National Congress (ANC) wraps up its 54th National Conference in Johannesburg, it has announced the new members of its National Executive Committee (NEC).

The NEC is the chief executive body of the ANC, South Africa’s ruling party. It has the power to lead the organization, subject to the provisions of its Constitution. It is elected every five years, at the party’s National Conference. The NEC, in turn, elects a National Working Committee, which is responsible for day-to-day decision-making.

The NEC is composed of The President, Deputy President, National Chairperson, the Secretary General, Deputy Secretary General and the Treasurer General, who are separately by the National Conference, and commonly referred to as the “Top 6”, as well as 80 additional members.

The Top 6 positions are now filled by the following newly-elected members:

President: Cyril Ramaphosa
Deputy President: David Mabuza
National Chairperson: Gwede Mantashe
Secretary General: Ace Magashule
Deputy Secretary General: Jessie Duarte
Treasurer General: Paul Mashatile

Cyril Ramaphosa, the new leader of the ANC, does not have a majority of allies in the NEC. If this translates to a lack of support from a majority of the NEC voting members, it may limit the scope of control he has over the party, and his ability to drive policy changes. While Ramaphosa has replaced Jacob Zuma as the party’s President, Zuma is still the President of the country, with his term ending at the time of the next South African general election sometime in 2019.

The two main party leaders that Ramaphosa will be leading the ANC against in said election will be Mmusi Maimane of the Democratic Alliance, and Julius Malema of the Economic Freedom Fighters. Both parties are looking to increase the gains they saw during the 2014 general election, and potentially form a coalition government that will unseat the ANC for the first time since they began leading the country in 1994.

Pravin Gordhan, the previous South African Minister of Finance, replaced by President Zuma during a cabinet reshuffle in March 2017, has been elected as a member of the new NEC.

Among the elected NEC members are Ramaphosa’s opponent in the ANC leadership election, Nkosazana Dlamini-Zuma (receiving the 9th most votes), Finance Minister Malusi Gigaba, and former central bank Governor Tito Mboweni. Former ANC Treasurer-General Zweli Mkhize won the most votes of the 80 additional members of the NEC, followed by Lindiwe Zulu, the Minister of Small Business Development.

Staunch backers of Ramaphosa in the NEC include Pravin Gordhan, Derek Hanekom, Angie and Mathole Motshekga, Jackson Mthembu and Mondli Gungubele.

Among the backers of President Jacob Zuma in the NEC are omvula Mokonyane, Collen Maine, Bathabile Dlamini, Pule Mabe and Tony Yengeni.

ANC leaders who did not retain positions in the NEC include SACP leader Blade Nzimande, and Ministers Thulas Nxesi, Gugile Nkwinti, and Senzeni Zokwana.

The new members of the NEC, in no particular order, are as follows:

  1. Zweli Mkhize
  2. Lindiwe Zulu
  3. Regina Makgaule
  4. David Masondo
  5. Malusi Gigaba
  6. Ronald Lamola
  7. Violet Siwela
  8. Zizi Kodwa
  9. Nkosazana Dlamini-Zuma
  10. 1Obed Bapela
  11. Tito Mboweni
  12. Lindiwe Sisulu
  13. Bheki Cele
  14. Fikile Mbalula
  15. Thoko Didiza
  16. Sdumo Dlamini
  17. Bathabile Dlamini
  18. Senzo Mchunu
  19. Pravin Gordhan
  20. Naledi Pandor
  21. Ivan Botes
  22. Zingiswa Losi
  23. Jackson Mthembu
  24. Phumulo Masualle
  25. Pule Mabe
  26. Sfiso Buthelezi
  27. Mduduzi Manana
  28. Aaron Motsoaledi
  29. Thandi Modise
  30. Edna Molewa
  31. Collen Maine
  32. Nathi Mthethwa
  33. Tima Joemat Pieterson
  34. Nkenke Kekana
  35. Maite Nkoana-Mashabane
  36. Angie Motshekga
  37. Bongani Bongo
  38. Enoch Godongwana
  39. Nomvula Mokonyane
  40. Baleka Mbete
  41. Derrick Hanekom
  42. Mondli Gungubele
  43. Jeff Radebe
  44. David Mahlobo
  45. Ruth Bhengu
  46. Msebenzi Zwane
  47. Pinky Kekana
  48. Nocawe Mafu
  49. Joe Maswanganyi
  50. Tony Yengeni
  51. Joel Netshitenzhe
  52. Dakota Lekgoete
  53. Nosiviwe Mapisa-Nqakula
  54. Noxolo Kiviet
  55. Ngoako Ramathlodi
  56. Mathole Motshekga
  57. Sbongile Bhesane
  58. Thandi Mahambehlala
  59. Susan Shabangu
  60. Pinky Moloi
  61. Beauty Dluelane
  62. Pamela Tshwete
  63. Toko Xasa
  64. Dipuo Letsatsi-Duba
  65. Dikeledi Magadzi
  66. Thabang Makwetla
  67. Siyabonga Cwele
  68. Barbrah Creecy
  69. Mildred Oliphant
  70. Khensani Khubayi
  71. Nomaindia Mfeketho
  72. Hlengiwe Mkhize
  73. Pemmy Majodina
  74. Faith Mothambi
  75. Rejoice Mabudavhasi
  76. Cindy Tshikunga
  77. Gwen Ramokgopa
  78. Sylvia Lucas
  79. Pammy Majodina
  80. Candith Mashego

Many South Africans, as well as those overseas, are skeptical as to the direction that the newly-elected party members will take the country in the coming months, with the hope that South Africa will see less corruption and greater economic growth in its near future. There is also something to be said of the ever-present need for all parties in Parliament to come together and make decisions which will benefit citizens as a whole, as opposed to wasting precious discussion time on the often racism-fueled volleys that the country’s residents have come to know.

To learn more about the ANC’s National Executive Committee, click here.

For information about how we can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

 

 

Sources: [1], [2], [3], [4], [5], [6]. Image Sources: [1], [2].

Andrew Stegmann

Johannesburg and Cape Town are voted 2 of the best cities for expats to live and work by Internations

InterNations recently released its 2017 list of the best cities in the world for living and working abroad… and two South African cities feature in the Top 27 Best Places where expats (from other countries obviously!) are happiest. They are Johannesburg and Cape Town… and Joburg actually features way ahead of Cape Town.

The city rankings are based on survey responses from nearly 8,000 expats (7,985 to be exact) in 40 countries. A city had to be mentioned at least 45 times to be included, and rankings were based on the quality and cost of urban living, quality of work life and finances, and ease of settling into the city.

Johannesburg came seventh in the list, with a cost of living apparently 56.9% lower that that of living in New York City.

The site’s respondents say that the average monthly rent for a one-bedroom in the city centre is $480.83, a Cappuccino on average costs $1.67 and local beer $2.07.

Cape Town just made it into the list at number 26. Its cost of living is even better than Joburg’s – 59.1% lower than New York, but the average rent for a one-bedroom in the city centre is set at $716.30. Cappuccino is slightly less at $1.62, and local beer is the same.

The best city for expats from other nations is apparently Manama in Bahrain… followed by Prague (Czech Republic) and Madrid (Spain). Popular South African expat locations Kuala Lumpur (Malaysia) and Amsterdam (Netherlands) are fourth and fifth favourite.

Manama is apparently easy to settle in and 92% of respondents said you can live there without speaking Arabic.

Jeddah in Saudi Arabia on the other hand came second to last – apparently not easy to feel at at home there. Paris came third to last with expats also finding it hard to settle into the French capital. Nigeria’s Lagos came last with many complaints, including terrible medical care…

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Andrew Stegmann

Johannesburg & Nairobi are the only cities offering favourable platforms for female entrepreneurs

Karen Quintos, Executive Vice President and Chief Customer Officer at Dell Globally, said women’s entrepreneurship rates are growing more than 10% each year. In fact, women are as likely – if not more likely than men to start businesses in many markets. However, financial, cultural and political barriers can limit the success of these businesses.

Quintos commented on the company’s Dell Women Entrepreneur Cities Index 2017, an evaluation of a city’s ability to attract and support female entrepreneurs.

According to the Index, Nairobi and Johannesburg are the only African cities in its selection of top 50 (an additional 25 cities compared to the 2016 research) international cities, offering a favourable platform in support of female entrepreneurs.

Johannesburg and Nairobi were ranked 28th and 33rd respectively, based on access to capital, markets, talent, technology and culture.

According to industry research, women remain under-represented in the ICT sector.

The ISACA 2017 women in technology survey states, “Women in tech are still facing significant barriers in the workplace, from a shortage of women role models, to gender-based pay gap, to persistent gender bias that nearly 90% of them say they have experienced.”

ISACA notes that eight in ten women report their supervisors are male; nine in ten are concerned about the number of women in the tech field; one in five companies are very committed to hiring and advancing women in tech roles, and one in five organisations are not at all committed to hiring and advancing women in tech roles.

The organisation identifies the top barriers experienced by women in technology as being the lack of mentors, female role models in the field, workplace gender bias, unequal growth opportunities and unequal pay compared to male counterparts.

In the survey, Jo Stewart-Rattray, board director of ISACA and director of information security and IT assurance at BRM, is quoted as saying, “Women should be encouraged to be confident and persistent in pursuit of their technology careers and a mentor in the field, whether male or female, can be the most effective person to make that case.”

Former board director of ISACA and director of the assurance and advisory management program at The Home Depot, Krysten M. McCabe says the first step to encouraging more women to pursue a career in technology is educating current technology leaders that gender diversity in the workforce is valuable and important.

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