The Legatum Institute’s 2016 Africa Prosperity Report published on Wednesday, reveals how economic growth across Africa is not necessarily being translated into higher levels of prosperity in individual countries.
The London-based think tank’s Africa prosperity index measures the human and economic prosperity of nations by eight sub-indexes, governance, economy, entrepreneurship and opportunity, personal freedom, health, education, safety and security, as well as social capital.
“The most significant prosperity gains have been made in Health, where life expectancy has increased by an average of five years and infant mortality has fallen by a third.“ The report said
In a list of 38 African countries the top ten most prosperous countries in Africa South Africa is the highest ranking country followed by Botswana, Morocco, Namibia, Algeria, Tunisia, Senegal, Rwanda, Ghana, Burkina Faso
“Over-performing countries are more likely to have complex economies, good governance, and strong freedoms” says the report
Central African Republic is the lowest prosperous country followed by Chad, Burundi, Democratic Republic of Congo, Sudan, Angola, Liberia, Guinea, Togo and Zimbabwe.
“Angola is significantly under-achieving. While it is one of the wealthier countries in Africa (GDP per capita of $6949), its over-reliance on one industry (oil) and its high unemployment rate and track record on civil liberties means it ranked just below Central African Republic as the second worst performing country.” said the report
Middle ranked countries include Kenya, Benin, Egypt, Mali, Zambia, Niger, Uganda, Cameroon, Tanzania, Cote d’Ivoire, Mozambique, Djibouti, Mauritania, Malawi, Sierra Leone, Nigeria, Ethiopia and Republic of Congo.
Rwanda is the most improved country since 2009, rising 10 ranks within Africa while Tanzania is the least improved country since 2009, falling 5 ranks within Africa. Angola, Nigeria, Congo, and Sudan have large prosperity deficits because of heavy dependence on oil which has been suffered price slumps.
“The frontier of over-delivery or under-delivery can, for a single country, regardless of wealth, mean the difference between being among the most prosperous on the continent, or among the least. Delivery matters more in determining the level of a country’s prosperity than its wealth.” Says the report