In the March 2019 ranking of the Global Financial Centers Index 25, Nairobi made its first appearance on the list. It was ranked 97th ahead of cities like Manila, Hangzhou, and Athens.
The Global Financial Centers Index was created in March 2007 and it lists major financial hubs around the world based on their competitiveness. The index which is closely followed by the global financial community is revised every March and September.
The index evaluates cities based on five areas of competitiveness; business environment, availability of human capital, infrastructure development, Financial sector development, and reputation.
In the latest report, the top five cities were New York, London, Hong Kong, Singapore and Shanghai. African cities on the list include; Casablanca, Johannesburg, Mauritius, Cape Town, and Nairobi.
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