Dar E-Salaam, Nairobi and Accra offer more than Lagos in business opportunities according to PwC
Africa is fast becoming converging point for major investments but some countries in the region offer more than others.
The report also placed Lusaka second while Nairobi and Lagos occupied the third and fourth position.
Five factors were noted for these evolving business opportunities, some of which include: huge consumer market, technology, good financial services, tourism and infrastructural facilities.
“Access to markets - middle-class consumers in the city and the country/region to which it is a gateway - is more of a long term determinant of success than natural resources.”
“Infrastructure and human capital take time to develop but often critical to success. The upcoming fast developing opportunity cities face significant human capital and infrastructure challenges which limit their economies,” the report stated.
These criteria were also considered in ranking the 21 African Metropolitan cities sampled in the study.
On a regional business opportunity ranking, Accra ranked higher than Lagos to top West Africa. Nairobi in East Africa, Cairo in North Africa, Douala for Central Africa and Johannesburg in Southern Africa region.
Nairobi, Accra, Lagos and Johannesburg are noted as top destinations for Foreign Direct Investments (FDIs) coming into Africa.
Other indexes computed by the report include: Infrastructure index, Human Capital index, Economics index and Social and demographics index.
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