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Browsing: EAST AFRICAN CITIES
- East African cities dominate the top five performing cities, including Kampala, Antananarivo, Mwanza, and Dar Es Salaam.
- While Sub-Saharan cities are expected to witness marginal gains in productivity compared to global counterparts
- Despite currently being the second-largest region by aggregate city GDP, the report forecasts that the South will be overtaken by the East African Cities by 2050.
East African cities are poised for strong economic growth between 2024 and 2050, outpacing other regions on the continent, an analysis by Oxford Economics has shown.
The report indicates that these cities will experience an average GDP growth rate of 3.5 per cent annually, primarily fueled by significant inflows of foreign direct investment and strategic initiatives the East African Community (EAC) implemented to bolster sectors such as business services and manufacturing.
In contrast, Southern African cities are anticipated to face the weakest outlook, with a projected GDP growth rate of 1.7 per …