Government schools Konadu on the state of Ghana's economy

Government says it has observed with interest recent discussions as to what extent Ghana is the most expensive country to live in Africa.

In a statement from the Ministry of Information signed by Deputy Minister Samuel Okudzeto Ablakwa, Government pointed out that assessing cost of living across nations is considered a scientific exercise and that it is worth noting that a reputable research organization known as Mercer which is a global reference point on this subject and a leader for trusted HR and related financial advice, products and services and has more than 19,000 employees serving clients in over 180 cities and 40 countries and territories worldwide has also gained international acceptability for its measurement of the world's most expensive cities.

Mr. Okudzeto Ablakwa said “when the Mercer International Basket is referenced; Ghana is nowhere near the most expensive countries in Africa or the world. Indeed, in the latest ranking, Luanda, Angola is the world's most expensive city followed by Tokyo, Japan then N'Djamena, Chad and then Moscow, Russia in that order. Actually, in the top 50 expensive cities, 11 African Cities feature with Accra, Ghana conspicuously missing”.

The statement said Government welcomed the interest in cost of living as compared with other countries and assured that “government will continue on our social democratic path of building a better Ghana by assuring a stable currency, a favourable macro-economic environment, prudent spending in growth areas of the economy and the continuous cushioning of the vulnerable through interventions such as free school uniforms, free exercise books, 50% increase in the capitation grant, the LESDEP programme and the elimination of schools under trees”.

The statement concluded that Government will continue on this “progressive path” to ensure that the living conditions of Ghanaians coupled with their human development index are improved whiles also endeavouring to remain one of the best investment destinations in Africa even as the 2011 IFC World Bank Doing Business Report cited Ghana as a global best reformer in improving access to credit and still overall, the easiest place to do business in West Africa.

The Top 50 Cost of living ranking is reproduced below:

Mercer international basket including rental accommodation costs

Base City: New York, US
Source: Samuel Okudzeto Ablakwa
Deputy Minister for Information
ACCRA
[Monday August 1, 2011]