Top 20 Most Competitive Economies in Africa, 2018 – World Economic Forum

Must Read

The Heroro-Nama Genocide: Germany’s Brutal Genocide in Namibia in the early 20th Century

The Herero and Namaqua Genocide is considered to have been the first genocide of the 20th century. It took place between 1904 and 1907 in German South-West Africa(modern day Namibia), during the Herero Wars.

Kenneth Kaunda, Zambia’s First President, and the Last African Independence Leader from the 1960s Dies at 97

Kenneth Kaunda, Zambia’s founding president and one of Africa’s last surviving liberation leaders, has died at a military hospital in Lusaka, where he was being treated for pneumonia. He was 97.

Artefacts Looted From Ethiopia 150 Years Ago Withdrawn From Uk Auction After Ethiopia’s Appeal

Two artefacts that were stolen during colonial-era looting by British forces in Ethiopia have been withdrawn from auction after the Ethiopian government appealed in a letter.
Advertisement



Mauritius has the most competitive economy in Africa, they are closely followed by South Africa and Seychelles.

Top 20 Most Competitive Economies in Africa, 2018

The World Economic Forum’s Global Competitiveness Index 4.0 is a composite indicator that assesses the set of factors that determine an economy’s level of productivity – widely considered as the most important determinant of long-term growth.

The GCI 4.0 framework is built around 12 main drivers of productivity — Institutions, Infrastructure; Technological readiness; Macroeconomic context; Health; Education and skills; Product market; Labour market; Financial system; Market size; Business dynamism; and Innovation.

Key Points from the Report
The economic prospects of Sub-Saharan Africa are at crossing point. The average GDP growth of the region has fallen below 5% since 2015 and is expected to grow at 3.4% in 2018.. To date, Sub-Saharan Africa, with an average score of 46.2, has the lowest GCI score among all regions and demonstrates the weakest average regional performance on 10 out of the 12 pillars.

Within Sub-Saharan Africa, Southern African countries have achieved a relatively higher competitiveness performance (48.0) compared to East Africa (46.8) and West Africa (44.5). These differences are even more prominent at country level. The score attained by the regional leaders (Mauritius, 63.7, and South Africa, 60.8) are almost twice as large as those of the two least competitive economies.

Some economies have emerged as regional leaders on specific domains. Kenya, the most competitive economy in East Africa, is developing into one of the region’s strongest innovation hubs (36.5 on the Innovation capability pillar), comparable to South Africa and Mauritius. Rwanda, with a score of 64.4, leads Africa in terms of institutional quality, followed by Mauritius (62.8), Namibia (57.2) and Ghana (55.7), the most competitive economy in West Africa.

Related:   Artefacts Looted From Ethiopia 150 Years Ago Withdrawn From Uk Auction After Ethiopia’s Appeal

Mauritius ranks 49th globally. With a score of 63.7 out of 100 it achieves the best performance in Africa, in line with 2017. Mauritius’s leading position in the region is reflected in a GDP growth consistently above 3% since 2006, and above 4% over the past three years.

Nigeria may have the biggest economy in Africa, but when it comes to competitiveness, the country has been relegated to the bottom.
Nigeria was ranked 115th in the world and 16th most competitive economy in Africa.
According to the report, Nigeria’s greatest competitive advantages include its market size, Labour market and business dynamism.

While the areas that the country needs to improve include, innovation capability, ICT adoption, enabling environment component, human capital component and infrastructure.

South Africa ranks 67th globally—with a score of 60.8—and attains the second spot in Sub-Saharan Africa. Among its strengths, South Africa is home to a large market size (68.4), good infrastructure (68.6) and a well-developed financial system (82.1, 18th). More specifically,

Related:   This Spiritual Leader Was Hanged and Decapitated by the British in 1898 for Opposing Colonial Rule in Zimbabwe

Below are the Top 20 Most Competitive Countries in Africa, 2018

1. Mauritius, Score 63.7
2. South Africa, Score 60.8
3. Seychelles, Score 58.5
4. Morocco, Score 58.5
5. Tunisia, Score 55.6
6. Botswana, Score 54.5
7. Algeria, Score 53.8
8. Kenya, Score 53.7
9. Egypt, Score 53.6
10. Namibia, Score 52.7
11. Ghana, Score 51.3
12. Rwanda, Score 50.9
13. Cape Verde , Score 50.2
14. Senegal, Score 49.0
15. Ivory Coast, Score 47. 6
16. Nigeria, Score 47.5
17. Tanzania, Score 47.2
18. Uganda, Score 46.8
19. Zambia, Score 46.1
20. Gambia, Score 45.5

Advertisement



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Subscribe to receive email updates

With a subscription profile, you automatically receive updates without having to return to the website and check for changes

Just In

The Heroro-Nama Genocide: Germany’s Brutal Genocide in Namibia in the early 20th Century

The Herero and Namaqua Genocide is considered to have been the first genocide of the 20th century. It took place between 1904 and 1907 in German South-West Africa(modern day Namibia), during the Herero Wars.

Kenneth Kaunda, Zambia’s First President, and the Last African Independence Leader from the 1960s Dies at 97

Kenneth Kaunda, Zambia’s founding president and one of Africa’s last surviving liberation leaders, has died at a military hospital in Lusaka, where he was being treated for pneumonia. He was 97.

Artefacts Looted From Ethiopia 150 Years Ago Withdrawn From Uk Auction After Ethiopia’s Appeal

Two artefacts that were stolen during colonial-era looting by British forces in Ethiopia have been withdrawn from auction after the Ethiopian government appealed in a letter.

World’s Third Largest Diamond Discovered in Botswana

The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.

The Earliest Obtainable Map of the Whole Continent of Africa

Mapped by Sebastian Münster, the map below is the earliest obtainable map of the whole continent of Africa. The map was published in the 1552 edition of Sebastian Münster’s Cosmographia.

More Articles Like This