The Economist Intelligence Unit (EIU) predicts that Accra and Kumasi, two of Ghana’s main cities, will turn into the fifteenth and sixteenth largest economies in Africa by 2035.
Accra is anticipated to fall from its present thirteenth place to fifteenth by 2035, whereas Kumasi will climb from nineteenth to sixteenth.
Accra’s financial system is projected to develop at a median fee of 6.7% yearly, whereas Kumasi’s financial system is anticipated to develop at 7.4% per 12 months.
Better Cairo will stay the most important financial system in Africa, adopted by Better Johannesburg and Lagos in 2nd and third place, respectively.
Kumasi will rank simply forward of Abuja (seventeenth), Kampala (18th), Kano (nineteenth), and Algiers (twentieth).
The continent’s main city centres—like Cairo, Lagos, and Johannesburg—will nonetheless lead Africa’s prime 100 metropolis economies by 2035.
In 2023, the mixed nominal GDP of those cities stood at $1.4 trillion, and by 2035, this quantity is anticipated to greater than triple, reaching over $5 trillion.
In response to the Economist Intelligence Unit, by mid-2030s, Africa’s prime 100 metropolis economies might be house to almost 400 million folks, about 21% of the continent’s inhabitants.
These cities, which embody each mega-populations and smaller capitals like Libreville, Cotonou, and Port Louis, will generate over 60% of Africa’s GDP.
The report highlights that Africa will proceed to expertise the quickest urbanization fee of any main area by means of 2035.
It initiatives that Africa’s city inhabitants will develop from about 650 million in 2023 to almost one billion by 2035, with a compound annual progress fee of round 3.5%. This progress will push the proportion of Africans dwelling in cities and cities above 50% by 2035.
East, Central, and West Africa are anticipated to see the very best charges of city inhabitants progress throughout this era.
The report additionally notes that Africa’s demographic and financial future will function the rise of recent city powerhouses and megacities, the speedy growth of metropolis clusters, and the growing significance of megalopolises.