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Legatum Institute Africa’s Prosperity Ranking: Botswana is the most prosperous country in Africa August 10, 2015

Posted by OromianEconomist in Uncategorized.
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ETHIOPIA  HAS BEEN ONE OF THE WORST PERFORMERS IN ENTREPRENEURSHIP & OPPORTUNITY  RANKINGS (30/38) EDUCATION (29/38),  SAFETY & SECURITY  (31) AND SOCIAL CAPITAL (29/38).

2014-africa-prosperity-report-part-2—contents-and-rankings

Going beyond economic indicators, the Legatum Institute  2014 index examines a group of sub-indices in the crucial areas of Education, Governance, Health, Safety & Security, Entrepreneurship & Opportunity, Personal Freedom, and Social Capital.

The  new research (Published August 2015) has ranked prosperity in 38 African countries around criteria ranging from economics to education to health, the title belongs to Botswana, the diamond-rich country in southern Africa.

As well as posting a relatively high per capita Gross Domestic Product (GDP) of $15,176, Botswana also fared well in terms of governance, education and personal freedom. As the country spends 8% of its GDP on education, it is among the biggest proportional spenders in the world according to the World Bank. This is the third year in a row that Botswana has topped the index.

In contrast, the Central African Republic was the lowest ranked country on the continent. The country, which has a per capita GDP of $584, has seen increasing violence since the end of 2012, and only 21.5% of the population have access to sanitation according to the prosperity index.

Top in the index: 

Botswana, South Africa,  Morocco, Namibia,  Tunisia, Algeria, Ghana,  Rwanda,  Burkina Faso and Senega.

Bottom in the index:

Ethiopia,  Liberia,  Sudan,  Angola, Guinea, Sierra Leone, Togo,  Burundi, Congo (DR), Chad and  Central African Republic

The report points out that education plays a critical role in empowering people and increasing the potential for citizens to contribute economically and politically.

The report considers that entrepreneurship is critical for both income and well being. But in Africa, few nations are realizing their potential in this area as women’s contributions to business are inhibited by cultural barriers, lack of access to finance, little support from families as well as limited access to social networks.

The report also warns  “As African economies grow, a chief concern for many governments is how to ensure that the fruits of growth benefit a majority of the population and contribute to true long term prosperity.”

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