On the path to prosperity: 2013 Prosperity Index reveals cautious optimism for Africa

Oct. 3, 2013 - PRLog -- •Insight on Africa special report launched ahead of the global Legatum Prosperity Index™.


Reform and build are the watchwords in Africa as this year’s regional Legatum Institute Prosperity Index™ rankings reveal a continent on the right path to prosperity.

A new report, Insight on Africa, from the Legatum Institute shows that economic growth, improving health standards and greater foreign and domestic investment – amongst other factors – are having a positive impact on prosperity in the region.

However, to continue their progress African states need to undertake further reforms, build better institutions, and improve education and infrastructure.

The report ranks 38 countries in the continent based on their overall level of prosperity according to national wealth and wellbeing in eight sub-categories¹. It investigates changing demographics, safety, and corruption in the continent, as well as assessing Africa’s performance against the Millennium Development Goals.

Insight on Africa will be launched at the African Leadership Network’s annual conference “The Gathering” in Mauritius, ahead of the full global Prosperity Index™ being published on the 29th October.

Botswana leads the African rankings, scoring well in both the Governance and the Entrepreneurship & Opportunity sub-indices.

Rwanda has experienced a jump from 13th to 9th in the rankings this year, with strong scores in Entrepreneurship & Opportunity, Governance, and Health.

The Index reveals cause for concern for Mali, however, falling from 8th to 13th in ranking. The path to prosperity also remains long for Malawi, which has seen a huge fall from 9th to 21st this year. The full rankings for the continent are included below.

Nathan Gamester, Programme Director for the Legatum Prosperity Index™ said: “Our latest report shows that there is reason for cautious optimism in Africa. The potential for development and growth across the world’s most dynamic continent is enormous.

“Good governance and a supportive business environment remain crucial for building a prosperous country. As such, our hope is that growing prosperity across the region will empower the people of Africa to demand more from their governments and institutions, enabling them to progress yet further on the path to prosperity.”

Overall Prosperity Rank

Country

1 Botswana

2 South Africa

3 Morocco

4 Tunisia

5 Namibia

6 Algeria

7 Ghana

8 Senegal

9 Rwanda

10 Zambia

11 Egypt

12 Niger

13 Mali

14 Burkina Faso

15 Benin

16 Uganda

17 Cameroon

18 Kenya

19 Tanzania

20 Congo (Republic)

21 Malawi

22 Djibouti

23 Mozambique

24 Nigeria

25 Zimbabwe

26 Mauritania

27 Ethiopia

28 Liberia

29 Sudan

30 Sierra Leone

31 Cote d'Ivoire

32 Angola

33 Guinea

34 Togo

35 Burundi

36 Congo (DR)

37 Central African Republic

38 Chad

Notes to Editors

Media enquiries

For more information or to arrange an interview with Nathan Gamester, please contact:

Shazia Ejaz

+44 (0) 207 148 5422 / shazia.ejaz@li.com

Julia Burns / Alexandra Kent

+44 (0) 1273 716 820 / teamlegatuminstitute@manbitesdog.com

Further information available by request:

• Full Insight on Africa report available at: http://www.li.com/docs/default-source/default-document-library/2013-africa-prosperity-index-legatum-institute.pdf?sfvrsn=4

About the Legatum Prosperity Index

The Legatum Prosperity Index™ is a unique global assessment of national prosperity based on both wealth and wellbeing. In its 6th year, the Index assesses 142 countries, representing more than 96% of the world’s population and 99% of the world’s GDP. Using rigorous research and in‐depth analysis, the Index ranks countries based on their performance in eight sub‐indices: Economy; Education; Entrepreneurship & Opportunity; Governance; Health; Personal Freedom; Safety & Security; and Social Capital

About the Legatum Institute

Based in London, the Legatum Institute is an independent non-partisan public policy organisation whose research, publications, and programmes advance ideas and policies in support of free and prosperous societies around the world. The Legatum Institute is the co-publisher of Democracy Lab, a journalistic joint venture with Foreign Policy Magazine dedicated to covering political and economic transitions around the world. www.li.com