**The Cost of Living Challenge in Africa: Study on the Most Affected Countries**
The year 2024 is shaping up to be a time of struggle for many residents of major cities across the world, facing a significant increase in the cost of living. According to the study conducted by the Economic Intelligence Unit (UIR) on the Global Cost of Living in 2023, the prices of goods and services increased by an average of 7.4% in terms of local currency.
A recent report by Numbeo on the 2024 cost of living index revealed that Cameroon ranks first in Africa and 72nd globally when it comes to cost of living crisis. Nigeria, for its part, ranks fifth in Africa and 86th in the world, after Zimbabwe, Mauritius and South Africa.
**Top 10 African Countries with the Highest Cost of Living**
Here is the ranking of the ten African countries with the highest cost of living:
1. **Cameroon**
2. **Zimbabwe**
3. **Mauritius**
4. **South Africa**
5. **Nigeria**
6. **Ghana**
7. **Kenya**
8. **Botswana**
9. **Morocco**
10. **Uganda**
Nigerians have been particularly affected over the past year by the sluggish economy and high cost of living, particularly due to the removal of fuel subsidies and other policies of the current government. Following this decision, petrol prices increased by over 200% from about 187 naira to an average of 630 naira, thereby impacting transport costs and prices of other goods due to the increase production costs.
The cost of living challenge in Africa remains a major concern for many countries. Governments must find effective solutions to mitigate the impact of these price increases on the population and guarantee a decent standard of living for all. In these difficult times, solidarity and cooperation between the different stakeholders are essential to face this major economic challenge.