African economies are jostling among the best on the planet. The World Economic Forum ( WEF ), in its recent report entitled “The Global Competitiveness Report 2017-2018”, lists the 137 most competitive economies in the world. Among them, 10 African countries have managed to climb to the top 100.
On the African podium, Mauritius once again won the palm (45th place). It is followed by Rwanda (58th) and South Africa (61st) which complete the top three. Botswana (63rd), Morocco (71st), Algeria (86th), then Namibia (90th), Kenya (91st), Tunisia (95th), and Egypt (100th) close the Top 10.
The most competitive economies in the world were selected on the basis of a number of indicators, including quality of infrastructure, innovation, quality of education, health system performance, business climate and the situation of the private sector ; supported by surveys of 14,000 entrepreneurs in 137 countries.
In Africa, in particular, the World Economic Forum noted a stability or a good progression for the economies of North Africa. Although Morocco retains its status as leader, it is closely followed by Algeria and Egypt which marks important leaps.
Sub-Saharan Africa, however, is doing much worse, with the exception of Senegal (106th), Ethiopia (108th), Seychelles (107th) or Ghana (111st). Countries such as Cameroon (116th), Nigeria (125th) or the DRC (126th), economic pillar in their different regions still seek a place in the sun. Côte d’Ivoire, although classified as one of the most dynamic economies in West Africa, has not even been included in the ranking.
The ECOFIN agency pointed out that the political uncertainties experienced or experienced by several of these countries have had an impact on African trade.
In addition, the World Economic Forum promotes “necessary reforms to underpin competitiveness and boost productivity”, but also “strengthening flexibility and protecting the workforce from digitization economy”. These exit routes, says Klaus Schwab, chairman of the Davos Forum ( WEF’s annual meeting ), are the guarantee of the most competitive economies of tomorrow.
Globally, Switzerland seems to be experiencing this recipe for success. For the ninth consecutive year, the country leads the pack. He shares the trio with the United States and Singapore. Chad (135th) and Mozambique (136th) are the two African countries that close the ranking, followed by Yemen (137th).