Cape Verde among the 10 most innovative economies in Africa

Innovation has been the driving force behind social development around the world for centuries. We are witnessing how innovation is driving nations forward, delivering solutions to problems, creating economic prosperity and improving the quality of life of their people.

source: Busines Insider Africa

It is remarkable that innovation knows no boundaries. The global enthusiasm for innovation has set the stage for a compelling competition for excellence. Countries are racing to outdo each other not only in technological breakthroughs, but also in promoting inclusive growth, sustainable development and social well-being. African countries, for example, recognise that innovation plays a crucial role in unlocking their potential and are making significant progress in this regard. In recent years, the continent has seen a surge in entrepreneurial spirit, investment and a growing emphasis on education and research.

The World Intellectual Property Organization (WIPO) recently released the report “Global Innovation Index 2023: Innovation in the Face of Uncertainty”, which presents a comprehensive assessment of innovation ecosystems in 132 countries and sheds light on their strengths and weaknesses through an analysis of 80 indicators, including R&D spending. This year’s report was presented against the backdrop of a world struggling with a slow economic recovery following the COVID-19 pandemic, soaring interest rates and geopolitical conflicts.

Cape Verde’s prominent position in this prestigious ranking is all the more valuable given that Cape Verde has only around 600,000 citizens.

Here are the top 10 innovative African economies:

Rank Country Score Global rank
1 Mauritius 32.1 57th
2 South Africa 30.4 59th
3 Morocco 28.4 70th
4 Tunisia 26.9 79th
5 Botswana 24.6 85th
6 Egypt 24.6 86th
7 Cape Verde 23.3 91st
8 Senegal 22.5 93rd
9 Namibia 21.8 96th
10 Ghana 21.3 99th

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