- Business Insider Africa presents the 10 African countries with the highest cost of living in 2024
- This list is courtesy of Numbeo.
- Mozambique now stands as the African country with the highest cost of living in Africa.
10 African countries with the highest cost of living in 2024
Given the fact that Africa is rapidly rising to prominence on the global stage, it nevertheless faces significant challenges that other advanced regions do not. Poverty is one of the difficulties facing the continent, therefore things must be affordable, considering the continent's average salary. Simply put, the cost of living in Africa should be inexpensive.
10 African countries with the highest cost of living in 2024
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The consequences of a high cost of living go well beyond individual budgets. It penetrates society, influencing economic mobility, education, and corporate competitiveness.
Right off the bat, a high cost of living is detrimental to the most fundamental unit of society, families. Basic amenities such as housing, healthcare, education, and groceries become more burdensome, leaving families with less disposable income.
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Additionally, a high cost of living opens further the inequality gap within a society. While the wealthy might be able to manage, those in a lower class would struggle to keep up, eventually driving more inequality within the community.
Addressing the root causes of a high cost of living is crucial for fostering a more equitable and sustainable economic environment.
With that said, below are the 10 African countries with the highest cost of living. The data below is courtesy of the Numbeo, one of the world’s most profound data and research platforms,
As of last year, the rankings had Senegal at the top spot on this list, however, Mozambique has taken that position as the African country with the highest cost of living.
Methodology
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To collect data, Numbeo relies on user inputs and manually collected data from authoritative sources (websites of supermarkets, taxi company websites, governmental institutions, newspaper articles, other surveys, etc.). Manually collected data from established sources are entered twice per year. A more comprehensive breakdown of the methodology is available on Numbeo’s website.
10 African countries with the highest cost of living in 2024
| Rank | Country | Cost of living index | Global rank |
|---|---|---|---|
| 1. | Mozambique | 45.2 | 63rd |
| 2. | Senegal | 45.1 | 65th |
| 3. | Ivory Coast | 44.7 | 66th |
| 4. | Ethiopia | 43.1 | 72nd |
| 5. | Mauritius | 41.1 | 79th |
| 6. | Zambia | 39.8 | 80th |
| 7. | Cameroon | 39.6 | 81st |
| 8. | Zimbabwe | 36.8 | 93rd |
| 9. | South Africa | 33.4 | 104th |
| 10. | Uganda | 30.7 | 114th |
This is a Business Insider Article, for more articles like this, visit africa.businessinsider.com
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