Top 10 African cities GDP by 2035

By 2035, Africa’s top 100 cities, each with populations exceeding one million, are expected to contribute over 60% of the continent’s GDP. Rapid urbanization will foster more dynamic consumer markets and sophisticated commercial hubs, enhancing industrial production and trade networks. While major urban centres like Cairo, Lagos, and Johannesburg will continue to dominate economically, emerging cities such as Kinshasa, Dar es Salaam, and Addis Ababa will likely experience significant growth driven by infrastructure development and urbanization. The Economist predicts that Addis Ababa will achieve an impressive GDP growth rate of 10.6%, the fastest among the ranked cities. This growth is primarily attributed to the city’s ongoing urban transformation and modernization projects, which are crucial for attracting foreign direct investment and positioning Addis Ababa as a regional hub for multinational corporations and international financial institutions. Ethiopian Airlines, one of Africa’s largest airlines, further solidifies the city’s role as a corporate and MICE tourism destination.

Furthermore, these modernization efforts aim to create a vibrant, cosmopolitan environment that generates substantial wealth for both the city and Ethiopia as a whole. With a population of over 120 million, Ethiopia is rapidly urbanizing, and within two decades, more than 40% of its population is expected to live in urban areas, up from around 20% today. This transformation will lead to the creation of multiple modern cities, particularly in regional capitals, enhancing Ethiopia’s economic landscape and exciting the future of African urbanization. EBR

12th Year  September 2024  No. 133