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Economic transformation in Africa: ranking of the best performing African countries

02/11/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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A report published on 19 October by the African Center for Economic Transformation (ACET) mentions that Tunisia, South Africa, Morocco and Eswatini are the African countries that have been most successful in transforming their economies during the period 2000-2020.

The report, entitled “African Transformation Index 2023: Tracking Africa's economic successes and setbacks”, measures the evolution of economic transformation in 30 African countries. Tunisia obtained an overall score of 69.5 points on a 100-point scale. South Africa is second on the podium with an overall score of 60.4 points, thanks in particular to its high level of productivity and its good performances in the areas of human well-being and technological upgrading. Eswatini, which has been developing a successful industry since the 1980s, especially in agri-food and textiles, also has a thriving service sector. Mauritius (59.1 points), Egypt (47.2), Gabon (36.7) and Cape Verde (35.1) came next, followed by Nigeria and Namibia in 10th place.

The overall score of some countries such as Morocco (+17.6 points), Rwanda (+8) and Tunisia (+16) has changed significantly. However, others saw their score fall, such as Zimbabwe (-12.4 points), Niger (-10.3) and the Gambia (-4.8)

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