Is Zimbabwe the most expensive country in Africa?

Real GDP / GDP by PPP ratio: 0.48

5 year GDP growth rate: 3.9%

Many everyday items in Namibia are imported, and the higher costs of these imports are compounded by higher transportation costs as well, while monopolies in some industries also contribute to higher expenses in the country. Over the past 5 years, Namibia’s economy has showed quite modest growth.

5. Central African Republic

Real GDP / GDP by PPP ratio: 0.50

5 year GDP growth rate: 19.7%

One of the reasons why Central African Republic is expensive is the cost of transport of goods to the country, because of the nation being landlocked resulting in higher transit times. In fact, for Central African Republic, the costs can be sometimes twice as high as for Eastern nations.

4. Sao Tome and Principe

Real GDP / GDP by PPP ratio: 0.53

5 year GDP growth rate: 21.3%

Sao Tome and Principe has traditionally been among the most expensive countries in Africa, but has gotten even more expensive in recent years. While utilities aren’t as expensive, prices in the country are generally quite high.

3. Gabon

Real GDP / GDP by PPP ratio: 0.57

5 year GDP growth rate: 14.7%

Gabon’s currency is the African franc, which has been guaranteed a parity of one French franc to 50 African francs, because of which the nation is home to some really high costs. Libreville, the capital of Gabon, was even recently ranked among the most expensive cities in the world. Many experts believe that the only way to reduce the cost of living is to devalue the C.F.A., which most franc-zone companies are vehemently opposed to.

2. Djibouti

Real GDP / GDP by PPP ratio: 0.58

5 year GDP growth rate: 28.9%

Accommodation and housing expenses have risen drastically in Djibouti, which has led to a major increase in the nation’s cost of living as well. While not topping the list right now, the World Bank ranked the country as the most expensive in Africa. Despite being counted among the most expensive countries in Africa, Djibouti still has poor infrastructure, while the country also imports luxury goods significantly.

1. Zimbabwe

Real GDP / GDP by PPP ratio: 0.76

5 year GDP growth rate: 8.0%

Easily topping the list of the 25 most expensive countries in Africa is Zimbabwe. Zimbabwe’s currency has struggled massively with depreciation over the years with inflation in July 2022 jumping to 257%. Meanwhile, water shortages have resulted in water being relatively expensive too. In a bid to control inflation, the nation’s president introduced gold coins as legal tender.- InsiderMonkey

(311 VIEWS)