Mauritius has been ranked highest among African countries Global Innovation Index (GII) 2024 by the World Intellectual Property Organization (WIPO).
According to the 2024 GGI index, in Sub-Saharan Africa, only Mauritius (55th) ranks among the top 60 most innovative countries of the world.
African economies ranked in the top 100 globally include:
- Mauritius (55)
- South Africa (69)
- Botswana (87)
- Cabo Verde (90)
- Senegal (92)
- Kenya (96)
Eight of the region’s economies moved up the GII ranking, including:
- Mauritius
- Cabo Verde
- Senegal
- Kenya
- Zambia (116th)
- Benin (119th)
- Mauritania (126th) and
- Burundi (127th)
Burundi, Madagascar (110th), Rwanda (104th), Senegal and South Africa are also innovation overperformers this year, with Rwanda’s period of overperformance lasting longest at 12 years.
Kenya gains four places and consolidates its place in the top 100. It performs well in:
- Venture capital recipients (13th)
- Utility models (15th)
- ICT services exports (17th), and
- Labor productivity growth (29th)
the report said.
Mauritius, which also leads Africa in the number of Bitcoin millionaires, ranks highest in the region in:
- Institutions (33rd)
- Human capital and research (69th), and
- Market sophistication (24th)
It leads worldwide in venture capital received (1st) and ranks 2nd in venture capital investors.
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Here are more stats from the report:
- Cabo Verde leads the region in Infrastructure (34th), ranking 1st in Gross capital formation
- South Africa tops the region in Business sophistication (57th) and performs well in ICT services imports (18th) and Global brand value (24th)
- Senegal leads the region in Knowledge and technology outputs (62nd). It also performs well in Gross capital formation (4th), Unicorn valuation (7th), Loans from microfinance institutions (9th), FDI net inflows (12th) and Venture capital received (22nd)
- Finally, Madagascar heads the region in Creative outputs (57th), performing well in Industrial designs (14th) and Trademarks (21st), both of which show improvement in 2024
- Globally Switzerland, Sweden, the United States, Singapore, and the United Kingdom lead the GII 2024; China reached the 11th position and remains the only middle-income economy in the GII top 30
- China, Türkiye, India, Vietnam, the Philippines, Indonesia, the Islamic Republic of Iran and Morocco are the middle-income economies that have climbed the fastest in the GII ranking since 2013
- In the last five years, Indonesia, Mauritius (55th), Saudi Arabia, Qatar, Brazil and Pakistan (91st) have climbed most in the GII, in terms of rank progression.
Top 20 most innovative countries:
- Switzerland (Number 1 in 2023)
- Sweden (2)
- United States of America (3)
- Singapore (5)
- United Kingdom (4)
- Republic of Korea (10)
- Finland (6)
- Netherlands (Kingdom of the) (7)
- Germany (8)
- Denmark (9)
- China (12)
- France (11)
- Japan (13)
- Canada (15)
- Israel (14)
- Estonia (16)
- Austria (18)
- Hong Kong, China (17)
- Ireland (22)
- Luxembourg (21)
The report also shows a softening in venture capital activity, R&D funding, and other investment indicators between 2020 – 2023.
Africa experienced the steepest decline in VC deals seen at the regional level in 2023, dropping 37 by around 25 percent from 471 to 349. Africa was followed by the Asia-Pacific region, which saw an almost 20 percent decrease, from approximately 9,600 deals down to 7,700.
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