Kigali has been ranked the second most attractive city in Africa for people, business, and investment, according to a new report published by The Africa Report. The ranking highlights African cities that are emerging as economic hubs, centers of innovation, and destinations favored by investors.
At the top of the list is Cairo, a sprawling megacity of over 22 million residents. Known for its strong economic influence in North Africa and the Middle East, Cairo continues to lead the continent in attracting foreign investment and skilled professionals.
According to fDi Intelligence, Cairo received $11.3 billion in foreign direct investment (FDI) between 2019 and 2023, including $4.3 billion in 2023 alone.
Kigali, meanwhile, earned its place on the list due to its international reputation for cleanliness, safety, stable governance, and investor-friendly policies, as highlighted by Business Insider.
Top 10 African Cities Leading in Talent, Investment, and Growth
1. Cairo, Egypt
Cairo blends historical significance with a rapidly expanding modern economy. It offers a massive consumer market, a growing tech scene, and a strong business ecosystem. Despite congestion and population pressure, the city remains one of the most opportunity-rich environments on the continent.
2. Kigali, Rwanda
Kigali continues to shine globally thanks to its safety, order, and strong governance. The city has become a hub for technology, green innovation, and international conferences. With fast-growing markets and forward-looking urban planning, Kigali is recognized as one of Africa’s most liveable and investment-friendly cities.
3. Nairobi, Kenya
Nairobi is the business and tech powerhouse of East Africa. Nicknamed the “Silicon Savannah,” it attracts investors, innovators, and major global organizations. While it faces challenges such as congestion and high living costs, Nairobi remains a driving force behind regional growth.
4. Cape Town, South Africa
Cape Town offers a blend of natural beauty, a thriving tourism economy, and a strong tech and creative industry. High-quality education, infrastructure, and lifestyle make it a preferred destination for global talent—even though South Africa faces wider economic challenges.
5. Rabat, Morocco
Morocco’s capital is known for its stability, cleanliness, and high-quality governance. Rabat attracts policymakers, investors, and skilled professionals seeking a calm and secure environment. Modern infrastructure continues to elevate its status as a top North African city.
6. Johannesburg, South Africa
Johannesburg remains the financial engine of Africa, home to the continent’s largest stock exchange and major financial institutions. Despite issues such as security and inequality, it still attracts large-scale investment and multinational companies.
7. Casablanca, Morocco
Casablanca is the commercial heart of Morocco, boasting a major port, numerous industries, and a high presence of international corporations. Its strategic position makes it a vital gateway between Africa and Europe.
8. Lagos, Nigeria
Lagos is one of Africa’s largest and most energetic cities. It leads Nigeria in technology, finance, entertainment, and creative industries. Although it struggles with traffic and urban challenges, its massive business potential keeps investors coming.
9. Tangier, Morocco
Tangier is rapidly developing thanks to major investments and the Tanger-Med port—one of the most advanced ports in the world. The city’s strategic location between Africa and Europe makes it ideal for logistics, manufacturing, and global trade.
10. Alexandria, Egypt
Alexandria combines Mediterranean charm with a strong industrial and transport-based economy. As Egypt’s second-largest city and a vital port, it continues to attract expanding business opportunities. It offers a calmer environment than Cairo while maintaining strong economic potential.
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