Highest Cost of Living 2024 – Top 10 African Countries

Amidst Africa’s burgeoning global significance, it grapples with unique challenges absent in more developed regions, notably poverty.

Given the continent’s average income, affordability becomes paramount to ensure basic necessities are within reach for its inhabitants, making a low cost of living imperative.

The ramifications of a high cost of living extend far beyond individual finances, permeating societal dynamics and impacting economic mobility, education, and corporate competitiveness.

Primarily, a steep cost of living burdens families, impeding access to essential services such as housing, healthcare, education, and groceries, thus reducing disposable income.

Moreover, it exacerbates societal inequalities, as affluent individuals can navigate the expenses, while those in lower-income brackets struggle, widening the wealth gap within communities.

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Addressing the root causes of this issue is pivotal for fostering a more just and sustainable economic landscape.

Here are the top 10 African countries grappling with the highest cost of living, based on data from Numbeo, a reputable research platform:

As of the latest report, Mozambique has emerged as the African nation with the highest cost of living, replacing Senegal at the top spot.

Methodology Adopted by Numbeo:

Numbeo collates data through user submissions and manual collection from reliable sources such as supermarket websites, government institutions, and surveys.

This data undergoes biannual updates for accuracy and reliability. For a detailed insight into the methodology, refer to Numbeo’s website.

10 African countries with the highest cost of living in 2024