Johannesburg is one of the top five African cities according to the PWC list with the other four in North Africa which include Cairo, Tunis, Algiers and Casablanca.
According to the PWC report, the preponderance of North African cities at the top is mainly due to how long they have been established.
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“This has given them time to develop infrastructure and a regulatory and legal framework, and to establish a socio-cultural ecosystem. Johannesburg is the only exception to this pattern since it was only formed more recently, in 1886 and was developed rapidly for political reasons,” said the report.
The report, ‘Into Africa – the continent’s cities of opportunity’ says the African continent is crossed by five trends which are demographic change, urbanisation, technological changes, the transfer of economic power and climate change.
The PWC report details the potential of 20 African cities that we believe to be among the most dynamic and future focused on the continent.
The report is part of PwC’s Global Cities of Opportunity series and its analysis is structured around the critical issues of the business community as well as those of the office holders and other public authorities who are responsible for improving the collective life of each city examined here.
About half of Africa’s population will live in cities by 2030, where economic activity and growth will be focused and which will become communication centers and hubs for social trends.
“The growing middle class, strong demographic growth with an improving age mix, technological innovation that we have already seen in mobile payments and a growing choice of investment partners from the global south, as well as fast-paced Urbanisation is all shaping what the future of Africa will look like,” said PWC.
Stanley Subramoney, head of strategy for Southern Africa at PwC, said the research sought to answer ‘what makes an African city one of opportunity’ by developing a set of questions that investors should ask themselves and themes which city politicians and officials can work on to improve their competitiveness.
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“This report assesses how the cities are performing not only on a regional level but also on an international one, which is hugely important in terms of these cities being able to compete and prosper on both of these stages.”