Kinshasa is the most expensive city in Africa for expatriates. The information comes from the annual ranking published by the Luxembourg company EuroCost International, which specializes in expatriate services. The capital of the Democratic Republic of Congo is also third in the world.
This is the result of the 10th ranking on the most expensive cities for expatriates. This result is based on data collected on the rents of neighborhoods popular with expatriates. The survey, conducted in June 2018, also looked at the prices of services and goods consumed by expatriates in 272 cities around the world, with the exception of health and education. This is the first time these results have been made public.
When we go back to the World ranking, we realize that Kinshasa is the third most expensive city behind the Asian cities of Hong Kong and Tokyo, respectively first and second in the standings. With a jump of 24 places this year, it dethroned Luanda known for its high cost of living and accustomed to this kind of ranking. This year, the capital of Angola is downgraded to 14th place ” following the devaluation of its currency earlier this year and despite very high inflation, ” says EuroCost International.
” Kinshasa was ranked 16th in 2016, but a sharp devaluation of the local currency led to its decline in the ranking. In the following months, large price increases gradually compensated for the fall in the currency, putting Kinshasa back in the top ranks. The local economy has been particularly destabilized by the drop in oil prices and the devaluation of its currency. The real estate market has also been affected, leading to a significant rise in rent costs for expatriates. The very high cost of living in Kinshasa is therefore explained by sustained inflation, while the currency has stabilized in recent months, “said Carine Valentin, the head of external relations at EuroCost International.
A notice also shared by nationals.
Asked by us, the manager of a trade union said “Expats complain, yet they see only part of the misery of the Congolese.” He added, ” Kinshasa is expensive, when it is denounced, the government sends us to graze. Maybe they will become aware with the results of this investigation. “
For Julien Mulenga, a student in economics at the University of Kinshasa, “The situation is untenable. We can no longer feed ourselves, transport businesses, even the field of tic not escape . “We are on the brink, the government has pity on the poor we are,” he pleaded.