Are You Living In Africa’s Most Expensive City (And No, It’s Not Lagos Or Johannesburg)?
US$30 for a sandwich? Say what?!
Yes, from cramped spaces to bad traffic, it is understood that city life does have its stressors. But when the costs of day to day commodities and routine essentials start to fray your nerves, then you know there might be a real problem.
Mercer, a global human resources consulting firm reviewed 207 cities around the world, and analyzed the costs of over 200 goods and services to determine the results. And of course, the winner is Luanda, Angola! The city is closely followed by Hong Kong, Zurich, Singapore and Geneva in fifth place, with the cities of N?Djamena, Kinshasa, Victoria and Lagos listed in the top twenty.
According to Mercer, Luanda tops the list as the most expensive destination for expatriate employees in 2015. Prices are on the rise, not only because of that good ol? black gold (oil), but also to compensate for the costs of importing goods into the country. Angola, which is Africa’s second largest producer of oil after Nigeria, attracts large multinational firms and other foreign national companies. The purpose of the Cost of Living and Quality of Living rankings is to help international and expatriate companies make informed decisions on fair compensation rates for their employees who work abroad.
In a city with a significant gap between the rich and the poor, perhaps the people without means are the ones paying the highest price of all in this expensive city, where a substantial number of people live in slums and in other dilapidated conditions.
The report also mentioned that while Cape Town climbed five spots this year, the country continues to rank as the least expensive city in the region reflecting the weak South African rand against the US dollar.