It is not. Source: African.

Unless of course you're comparing software developers' lifestyle to the refugees, nomads and slum dwellers? In which case $20k in San Fransisco is also balling out of control, when compared to the homeless guys living on your porch.

Africa is not a monolith. This is an absurd statement in the very areas where there even is a software development industry. See j'burg, akkra, lagos, nairobi, etc.