A report by the consultancy PwC claims that the Tanzanian capital Dar es Salaam has the greatest potential for investors of any city in Africa, due to a combination of its economic growth, demographic expansion and a swelling middle class.
Lusaka, Lagos, Nairobi and Accra made up the remainder of the top five.
"African cities, in the unusually robust diversity and adaptability of their economic environment, both individually and as part of broader urban networks, offer extraordinary opportunities in the short, medium, and longer term, and for virtually any kind of economic enterprise, from commodities to manufacture to consumer goods to telecommunications and high tech," the report said. The report showed that Africa's largest cities display a wide divergence in terms of their competitive advantages; Cairo has the most effective infrastructure, while Tunis is ahead "by a comfortable margin" in its human capital base.
Nairobi outscores its rivals in foreign direct investment; Kigali demonstrates a greater ease of doing business and high spending on...