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Ethiopia among the 10 poorest performers in the World Economic Forum Report for Human Capital May 18, 2015

Posted by OromianEconomist in Africa, Developed country, Development & Change, Economics, Ethiopia the least competitive in the Global Competitiveness Index.
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Ethiopia Ranks 115 out of 124 countries in Human Capital Index 2015 Rank

Ethiopia  ranks at 115 out of 124 countries in the ‘Human Capital Index’ because of its poor performance on educational outcomes, says the Human Capital Report 2015 issued by the World Economic Forum (WEF).

The index is dominated by European countries with two countries from the Asia and Pacific region and one from the North America region also making it into the top 10.

Finland topped the ranking of the Human Capital Index in 2015, scoring 86% of its human capital, followed by Norway, Switzerland, Canada and Japan.

Sweden, Denmark, the Netherlands, New Zealand and Belgium also seized the places in the top 10 list. Ethiopia scored 50.25 out of 100.

The leaders of the index are high-income economies that have placed importance on high educational attainment and a correspondingly large share of high-skilled employment.

The World Economic Forum (WEF) released the Human Capital Report 2015 in Geneva, Switzerland on Thursday 14 May 2015.

The WEF prepared the report in collaboration with Mercer, an American global human resource and related financial services consulting firm.

The report elaborates the status of different countries across the world on the Human Capital Index and provides key inputs for policy makers to augment capacities of human capital in 124 countries it has surveyed.

In the index, WEF highlighted Ethiopia’s scarcity of skilled employees, poor ability to nurture talent through educating, training and employing its people.

“Talent, not capital, will be the key factor linking innovation, competitiveness and growth in the 21st century,” said WEF Executive Chairman Klaus Schwab releasing the report at a news conference in Cologny, near Geneva, Switzerland.

In sub-Saharan Africa, Mauritius (72) holds the highest position in the region. While another six countries rank between 80 and 100, another 17 countries from Africa rank below 100 in the index. South Africa is in 92nd place and Kenya at 101. The region’s most populous country, Nigeria (120) is among the bottom three in the region, while the second most populous country, Ethiopia, is in 115th place. With the exception of the top-ranked country, the region is characterized by chronically low investment in education and learning.

Human Capital Index 2015 regional Ranks

Except Yemen (40.7) all the 10 poorest performers are African Countries: Ethiopia (50.25),  Burkina Faso (49.22),  Ivory Coast ( 49.02),  Mali (48.51), Guinea (48.25),  Nigeria (48.43),  Burundi (46.76),  Mauritania (42.29) and  Chad (41.1).

The countries are ranked on the basis of 46 indicators that track “how well countries are developing and deploying their human capital focusing on education, skills and employment”.

 The index takes a life-course approach to human capital, evaluating the levels of education, skills and employment available to people in five distinct age groups, starting from under 15 years to over 65 years. The aim is to assess the outcome of past and present investments in human capital and offer insight into what a country’s talent base will look like in the future.

http://reports.weforum.org/human-capital-report-2015/press-releases/

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