ZAMBIA RANKS SIXTH COUNTRY WITH HIGHEST COST OF LIVING IN AFRICA
ZAMBIA has been ranked sixth country on the African continent, among the top 10 states identified, with the highest cost of living in 2024.
Globally, Zambia has been ranked 80th, according to data courtesy of the Numbeo, one of the world’s most profound data and research platforms.
While Zambia was ranked sixth, Mozambique has taken the top position as the African country with the highest cost of living in 2024.
The cost of living index on the list for Zambia showed 39.8 percent.
As of last year, the rankings had Senegal at the top spot on this list, however, Mozambique has taken that position as the African country with the highest cost of living.
The ranking is as follows: Mozambique topped the list followed by Senegal with Ivory Coast being third.
The fourth position was taken up by Ethiopia while Mauritius took up the fifth one while Zambia came in at number six.
Cameroon was on number seven, followed by Zimbabwe at the ninth ranking while South Africaand Uganda were ranked ninth and 10th, respectively.
“Poverty is one of the difficulties facing the continent, therefore things must be affordable, considering the continent’s average salary. Simply put, the cost of living in Africa should be inexpensive. “The consequences of a high cost of living go well beyond individual budgets. It penetrates society, influencing economic mobility, education, and corporate competitiveness,” according to the data from Numbeo.
The information showed that basic amenities such as housing, healthcare, education, and groceries become more burdensome, leaving families with less disposable income.
Additionally, a high cost of living opens further the inequality gap within a society.
“While the wealthy might be able to manage, those in a lower class would struggle to keep up, eventually driving more inequality within the community. “Addressing the root causes of a high cost of living is crucial for fostering a more equitable and sustainable economic environment,” the data showed.