15 Most Advanced Countries in Africa in 2024

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1. Rwanda

Global Innovation Index 2023: 103

R&D Expenditure as a Percentage of GDP in 2019: 0.76% 

Rwanda is considered one of the fastest-growing economies in Africa. In 2022, the GDP growth rate was 8.2%. It has the highest R&D expenditure as a percentage of GDP, based on the latest available data, among all African countries. It is the most advanced country in Africa in 2024. The startup culture is thriving in Rwanda. In 2023, Rwanda raised $38 million, in Partech which is a global investment firm, in startup funding. The funding exhibited a surge of six times the amount raised in 2022. Government initiatives in Kigali, the capital of Rwanda, including infrastructure development, ensuring access to high-speed internet, and reducing regulatory hurdles are creating a nurturing environment for startups. Fintech is one of the most notable sectors in Rwanda. According to a report by the National Bank of Rwanda, the country experienced an increase of 57% in mobile payments from December 2022 to December 2023. Similarly, internet banking surged by 68% during the same period. In March, Rwanda’s Ministry of Justice won two awards in the inaugural Commonwealth Access to Justice Innovation Awards ceremony. One of the awards was the integrated electronic case management system. The project was launched in 2016 and it aimed to help the judicial processes through automation. The digitization also facilitated information sharing between institutions.

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