Nairobi ranked most expensive city in Africa
07 March 2014, 13:31
Nairobi - Nairobi has been ranked the most expensive city to live in Africa by a report that states the rising cost of living as a factor in the high ranking, Ventures Africa reports.
A report by the Economist Intelligence Unit stated that rising costs of living enhanced by high consumer retail prices is key to the rise by Nairobi.
Kenya's capital thus takes the unwanted tag ahead of Lagos Nigeria which has held the position in recent years.
Eight African cities were sampled including Lagos,Casablanca Morocco (ranked Africa’s third most expensive city), Cairo (Egypt),
Lusaka (Zambia), Pretoria (South Africa), Johannesburg (South Africa)
and Algiers (Algeria).
Singapore was ranked the most expensive city in the world to live in.
Mumbai emerged as the world’s cheapest city to live in, joined by
Karachi, New Delhi, Damascus and Kathmandu to make up the top five least
expensive cities in the world.
According to Ventures Africa, Nairobi’s high-ranking based on cost of living indicates ability to
attract foreign investment. The country’s annual GDP growth according to
a 2012 World Bank report was 4.6 percent, which was projected to grow
at 5.8-6 percent according to an October 2013 report by the global
- For more details visit Ventures Africa
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