In this piece, we will take a look at the five most advanced countries in Africa. For more countries, head on over to 12 Most Advanced Countries in Africa.
5. Republic of Kenya
Global Innovation Index (2022) Ranking: 88
The Republic of Kenya is an East African country with a $333 billion economy. While most of its exports are agricultural products and natural resources such as tea, coffee, and oil, Kenya also has a strong manufacturing sector which produces different products such as consumer goods, cement, and refined petroleum. Kenya’s startup ecosystem is also one of the strongest in Africa, with data suggesting that the companies raised a whopping $820 million during the first half of this year, double the $411 million that they had raised in 20221.
4. Republic of Botswana
Global Innovation Index (2022) Ranking: 86
The Republic of Botswana is a South African country with a $43 billion GDP and one of the highest per capita in the region at $19,287. Its manufacturing industry primarily focuses on making food products, textiles, construction materials, and metal products. Botswana also has one of the highest public expenditures on education in South Africa, which is also translating into scientific productivity, which was the second highest in Sub Saharan Africa in 2015. The country’s research and infrastructure rank in the second percentile of the Global Innovation Index, making it one of the few African nations that has achieved the scores.
3. Republic of Tunisia
Global Innovation Index (2022) Ranking: 73
The Republic of Tunisia is a North African country with a coast touching the Mediterranean sea. Manufacturing and services are the dominant constituents of the economy, and Tunisia makes products such as apparel, footwear, machinery, and car parts. It also has a close relationship with the U.S., which has served as a backer of Tunisian government loans. Tunisia also has one of the highest human capital and research scores in the Global Innovation Index, as its score of 45 places in the third percentile. The country’s knowledge and technology output score of 53 is also in the third percentile.
2. Morocco
Global Innovation Index (2022) Ranking: 67
The Kingdom of Morocco is a West African country with the fifth highest nominal GDP in the region, at $142 billion. It has a vibrant manufacturing sector as well, with cars making up for a large chunk of the exports. Other technical products that the country exports are electrical systems and insulated wire. In terms of research, the Kingdom of Morocco contributes significantly to wind turbine research, and it also has some of the highest patent applications in the region. Apart from cars, the country also makes steel, finished products, and textiles.
1. Republic of South Africa (RSA)
Global Innovation Index (2022) Ranking: 61
The Republic of South Africa (RSA), or simply South Africa, is the fifth largest economy in Africa which was worth $411 billion last year. It is the only country in Africa with a nuclear power plant and is known for important scientific contributions such as the first human to human heart transplant, yellow fever vaccine, and X-Ray based CT scans. Therefore, it’s no surprise that the country is the only African nation with most of its Global Innovation Index scores in the third quartile, with a high market sophistication score of 39.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out our articles on 14 Best Agriculture Stocks to Buy Now and 30 Wealthiest Families in the World.