As one report of KPMG Africa, published this year, with the theme 'The role of cities in Africa's rise', moving from rural areas to urban centers is the largest migration in human history. Africa and lead the charge for the coming decades in a similar manner to the economic transformation of China since 1980.In 2030, Africa will have more than 50% of the population living in cities.
And more than 60% of Africans live in cities by 2050. The overall growth of urbanization will be almost exclusively in Africa and Asia over the next 40 years. Together, these two regions account for 86% of the growth of the urban population in the world.
According to MasterCard African Cities Growth Index, conducted earlier this year by George Angelopulo University of South Africa, which includes 19 African cities, the capital of Ghana (Accra), Zambia (Lusaka) and Angola (Luanda) were identified as the cities of sub-Saharan Africa have the greatest potential for economic growth over the next five years.
The reasons for the high ranking of the Ghanaian capital, Accra, is the growth of per capita GDP in recent years, the growth of projected consumption, a strong regulatory framework, and the relative ease of doing business compared to other African cities. The economic center of Johannesburg in South Africa is lower on the list due to sluggish growth forecasts because of its relative maturity compared to other mainland cities.
While many of the larger cities offer better off the expected growth potential, other less important are quietly becoming established as having an even higher growth potential. This is mainly due to high scores on factors accelerated growth include health, education, governance, infrastructure development and the ease of doing business.
The ranking of 19 cities in the MasterCard African Cities Growth Index:
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