North African cities offer ‘greatest opportunity’
The ‘Into Africa – the continent’s cities of opportunity’ report by PwC investigating Africa’s most “dynamic” and “future-focused” cities has identified North African cities Cairo, in Egypt, Tunis, in Tunisia, Algiers, in Algeria, and Casablanca, in Morocco, as well as South Africa’s Johannesburg as those offering the greatest opportunities across a range of indicators.
PwC said the preponderance of North African cities’ offering the best opportunities was largely due to their age, which had allowed for the development of infrastructure, a regulatory and legal framework and the establishment of a “sociocultural ecosystem”.
Johannesburg remained the only exception to this pattern, as it was established more recently, in 1886, and developed “rapidly”.
PwC Local Government for Southern Africa leader Kalane Rampai said a criterion of a city’s potential was its vision for the future.
“Accra, the capital of Ghana, is a city with a good reputation for the quality of its communications infrastructure, low crime rates and steady democracy. Economically, it ranks second for its attractiveness for foreign direct investment and the diversity of its GDP,” Rampai said.
“With 5% growth, dynamic demographics and a growing middle class, Africa is extremely appealing to investors,” he commented.