Facts About Most Developed Country In Africa

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Most Developed Country In Africa

In a recent ranking, Mauritius was named the most inventive African country. The island nation came in 52nd out of 132 countries.

Unlike most African countries, Mauritius has a high human development index. In the previous half-century, its economy has risen rapidly, with a focus on financial services, tourism, and information technology.

According to the 15th edition of the Global Innovation Index (GII 2021), released September 21, 2021, it was followed by South Africa (61), Tunisia (71), and Kenya (85) in terms of innovation.

The World Intellectual Property Organization (WIPO) and the Portland Center, an independent nonprofit, nonpartisan research and educational institute situated in Washington, DC, collaborated on the GII 2021.

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Economic Developments

Most Developed Country In Africa

Based on 2019 data, Mauritius was designated as a High-Income Country in July 2020. However, because to the impact of the Covid-19 epidemic, it reverted to Upper-Middle-Income status in 2021.

Despite the fact that the public health emergency was successfully handled, the economic impact was significant, with GDP contracting by 14.9 percent in 2020.

Although a comprehensive state assistance program was efficient in safeguarding livelihoods, it came at a considerable financial cost.

Despite being partially funded by a 12.6 percent of GDP non-refundable Central Bank transfer, the fiscal deficit increased to 19.9% in FY20/21, causing public debt to rise to 100.6 percent of GDP.

COVID-19’s consequences have rolled back recent progress in poverty reduction and women’s labor force participation.

Although following COVID-19 waves reduced growth, output remained below pre-pandemic levels, real GDP expanded by an anticipated 3.9 percent in 2021.

A cornerstone of recovery has been a successful Covid-19 immunization campaign, with 76 percent of the population fully vaccinated by the end of February 2022.

However, there is still a significant output deficit in tourism, with arrivals down 41.8 percent in 2021 compared to 2020. Monthly arrivals remained below 50% of pre-pandemic levels even after full reopening of borders on October 1.

The trade deficit widened by 39.4% in 2021 as imports outpaced exports, but the current account deficit shrank from 12.5 to 11.1 percent of GDP thanks to net income inflows.

External supply shocks resulting in higher freight, energy, and food costs drove headline inflation to 4% in 2021, up from 2.5 percent in 2020.

Political Situation

Mauritius is a parliamentary democracy with a multi-party system. The country’s politics are characterized by shifting coalitions.

Most Developed Country In Africa

The President is the head of state, while the Prime Minister is in charge of the government and has complete executive powers. On November 7, 2019, general elections were conducted.

The Mauritian Alliance (a combination of the Militant Socialist Movement (MSM), Muvman Liberater, Alan Ganoo Movement, and Plateforme Militante) gained 42 of the 70 seats as a result of the election. The MSM’s Pravind Jugnauth was re-elected Prime Minister.

Ten Countries Have Improved Their Rankings

Most Developed Country In Africa

According to the ranking, Kenya and Tanzania are among the developing economies that have outperformed expectations in terms of innovation in relation to their economic progress. They have stayed in the top 100 and have improved their performance over time.

After finishing second in the low-income group in 2020, Rwanda (102) has recovered first place. It came in first place in 2015, 2016, and 2019 and has consistently been in the top three of its income category since 2014.

Kenya (85), Cape Verde (89), Egypt (94), Namibia (100), Malawi (107), Madagascar (110), Zimbabwe (113), Burkina Faso (115), and Algeria have all advanced up the GII rankings since 2020. (120).

Cape Verde improved significantly from 103 in 2013, according to the report’s authors.

The GII ranking is based on seven pillars of performance:

  • Institutions
  • Human resources and research
  • Infrastructure
  • sophisticated market
  • ‘Complexity in business’
  • Outputs of knowledge and technology
  • Inventive outcomes

In the ‘institutions’ category, Sub-Saharan Africa performed the best. The political, regulatory, and business environments are used to strengthen institutions.

Deals With Venture Capital Firms Increased

According to WIPO, the number of venture capital (VC) deals increased by 5.8% globally in 2020, above the indicator’s 10-year average growth rate of 3.6 percent.

Last year, Africa made great gains as well, with VC agreements increasing by 82.7 percent.

“As the globe recovers from the novel coronavirus disease (COVID-19) pandemic, it is critical to use innovation to accelerate the transformation of our economies and communities for the benefit of all,” stated WIPO Director-General Daren Tang.

The authors noted that global change in the “innovation landscape” is gradual and not at the desired rate.

Conclusion

Yes, Mauritius has surpassed Seychelles to become the “first African country in the yearly rating of the United Nations Development Program” (UNDP). The Human Development Index is being studied by observers (HDI).

Mauritius offers a balanced and healthy lifestyle, as well as several business and investment prospects.

The Mauritian people are serious about environmental protection. They act to safeguard and maintain the environment. One of these programs, for example, focuses on improving Mauritius’ air quality.

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