Angola and Cape Verde amongst five most expensive countries in Africa

16 May 2007

Shanghai, China, 16 May – Angola and Cape Verde are among the five most expensive African countries and Mozambique is the only one of the five Portuguese-speaking African countries that has a lower than average cost of living for the continent, the African Development Bank (ADB) said Tuesday.

In the list of Levels of Consumption and Price Comparisons for African Countries published during the bank’s summit in the Chinese city of Shanghai, Angola is ranked third, with an index of 1.53 points, against and African average of 1 point, which translates as 53 percent above the African average.

At the top of the table, very close to Angola, are Gabon and Equatorial Guinea, both with 1.58 points.

Cape Verde had an index of 1.48 points in fifth place on the list, behind Namibia (1.50 points).

Sao Tome and Principe is ranked 10th in the list, with 1.22 points, and Guinea Bissau in 19th with 1.09 points.

Mozambique scored 0.91 points in the list.

Ethiopia came in at the end of the list (0.57 points) after Egypt (0.64 points).

Shanghai, which is China’s financial capital, Wednesday and Thursday hosts the annual ADB summit, attended by governors of central banks, economy and finance ministers and three heads of State, including Pedro Pires, of Cape Verde. (macauhub)