afrol News / Savana, 23 June - Angolan capital of Luanda is the most-expensive city in the world for expatriates ahead of Paris and London for second consecutive time, a survey by ECA International has revealed.
According to the report, which compare cost living in 370 cities around the world, the presence of many African cities in top spots was due to the fact that many expatriates purchase imported products at high prices, thus inflating cost of living.
"The fact that Luanda lead the top of the list may surprise some," said Lee Quane, ECA International, adding that this is because "the study includes goods and services typically purchased by expatriates, which can be very expensive in places like this, but not exceeding the local market."
In addition to Luanda, the capital of Gabon, Libreville, Kinshasa in Democratic Republic of Congo, Abidjan in Ivory Coast and in Abuja, Nigeria, are listed among 25 countries with higher cost of living for expatriates.
The findings are used by multinational companies to calculate allowances paid to officials abroad.
The second most expensive city is Oslo, capital of Norway, followed by Stavenger, also in the same country.
Fourth, are Copenhagen in Denmark, and then Moscow in Russia. Zurich, Geneva, Basel, Bern and Switzerland, also form part of the list of most expensive cities for foreign workers, that appear in the top 10 cities with highest cost of living.
Despite current political turbulences in Zimbabwe, Harare remains one of least expensive cities in the world - probably not the safest - just a few points ahead of Asuncion, Paraguay.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español