Nairobi beats peers as place to invest in Africa
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According to the report, most of the African cities with promise can and will - with a little effort and organisation - climb to join those cities at the top of its overall ranking. "Moreover, many of them have already become key regional platforms, such as Dar es Salaam and Douala as centres for telecommunications, Accra and Lagos for culture, and Nairobi for financial services," it adds. Outside top five cities, Kigali finishes at the very top for both ease of doing business and health spending; Abidjan ranks number one in both middle-class growth and diversity; Dar es Salaam is first in Gross Domestic Product (GDP) growth and Nairobi outscores all African cities in foreign direct investment (FDI). In what it calls 'Afro-realism', PwC observes that with five per cent growth, dynamic demographics and a growing middle class, Africa is extremely appealing to investors. "After a period of pessimism about the future of Africa, leaders today share a more realistic view of the economic climate of the continent," the report says.
