The Global Innovation Index 2020 has not regarded Nigeria as the giant of Africa because the nation is among the countries that performed below development expectations.
As a thesis, the Global Innovation Index 2020 has released detailed metrics about the innovation performance of 131 countries and economies around the world.
The ranking factors, however, are not far-fetched and they are business sophistication, human capital research, infrastructure, market sophistication, creative output, and institutions, according to stakeholders’ views.
Meanwhile, TechEconomy.ng had reported that the 2020 edition points out the state of innovation financing by investigating the evolution of financing mechanisms for entrepreneurs and other innovators.
It also talks about the progress and remaining challenges – including in the context of the economic slowdown induced by the coronavirus disease (COVID-19) crisis.
Techeconomy.ng, in this article, will be disclosing ten African countries that are rated higher than Nigeria in the Global Innovation Index 2020.
Below are the top 10 African Countries Rated Ahead of Nigeria in Global Innovation Index 2020:
The country is among the top innovation performance of 131 countries and economies around the world. And of course, it is much rated higher than Nigeria by Global Innovation Index 2020.
The strongest sectors of Mauritius’ economy are food processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery and tourism.
Primary industrial exports are led by prepared or preserved fish, clothing (mainly t-shirts, shirts and suits), and cane or beet sugar (sugarcane occupies 85% of the country’s cultivated land); while the country imported chiefly petroleum products, frozen fish, cars, medicaments and radio transmission equipment.
2. South Africa
The Economy of South Africa is the second-largest in Africa. As a manufacturing hub, it is the most industrialized, technologically advanced, and diversified economy on the African continent
Base on the Global Innovation Index, Tunisia is the third country ahead of Nigeria. The country’s economy. Prudent economic and fiscal planning have resulted in moderate but sustained growth for over a decade.
Tunisia’s economic growth historically has depended on oil, phosphates, agrifood products, car parts manufacturing, and tourism.
Going by the Global Innovation Index 2020, Morocco is doing better than Nigeria. The country has become a major player in African economic affairs and is the 5th largest African economy by GDP (PPP).
The country is among the innovation performance of 131 countries and economies around the world. Agriculture is the main engine of economic growth in Kenya.
And about 75 percent of Kenyans earn all or part of their income from the sector. Agriculture accounts for 33 percent of the nation’s gross domestic product (GDP).
The country is among the Global Innovation Index 2020 has also released detailed metrics about the innovation performance of 131 countries and economies around the world.
6. United Republic of Tanzania
It is not a gainsaying that the country’s GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007.
Tanzania has sustained relatively high economic growth compared to global trends as is characteristic of African nations. The country is largely dependent on agriculture for employment, accounting for about half of the employed workforce.
It is also noted that Nigeria is still trying to meet up with the country’s economic growth. The country has witnessed an economic boom improving the living standards of many Rwandans.
The Government’s progressive visions have been the catalyst for the fast transforming economy.
The global innovative Index 2020 has also has rated the country higher than Nigeria as it has a stable mixed economy with average growth, averaging 3–5% in the past quarter-century.
It is not surprising that the country is as well doing in terms of economic growth.
The country’s economy of Senegal gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services.
As one of the dominate parts of the economy, the agricultural sector of Senegal is highly vulnerable to environmental conditions, such as variations in rainfall and climate change, and changes in world commodity prices.
Suffice to as well state that Ghana, one of the smallest countries in Africa is doing better than Nigeria in terms of economic growth.
The country “Small but mighty,’’ has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydrocarbons and industrial minerals.