Ghana Ranks 7th Most Prosperous & 2nd Safest Country In Africa

sQuashie

December 22, 2014 5:20 PM

Ghana was ranked as the seventh most prosperous nation in Africa and the second safest nation on the continent, according to the 2014 Africa Prosperity report by the Legatum institute. It also described Ghana as the young oil producing nation with a “vibrant economic spirit”.

According to new research from the Legatum Institute, which last week ranked prosperity in 38 African countries around criteria ranging from economics to education to health, the title belongs to Botswana, the diamond-rich country in southern Africa.

As well as posting a relatively high per capita Gross Domestic Product (GDP) of $15,176, Botswana also fared well in terms of governance, education and personal freedom. As the country spends 8% of its GDP on education, it is among the biggest proportional spenders in the world according to the World Bank. This is the third year in a row that Botswana has topped the index.

In contrast, the Central African Republic was the lowest ranked country on the continent. The country, which has a per capita GDP of $584, has seen increasing since the end of 2012, and only 21.5% of the population has access to sanitation according to the prosperity index.

Rwanda was the best improver, gaining five ranking places to end up as the eighth most prosperous country in Africa. The country was found to have the sixth highest ranking in regulation and government effectiveness, the eighth highest score in rule of law and the lowest perceptions of corruption in Africa.

"Rwanda deserves credit for actively encouraging women to play a central role in shaping the future of their country. And it seems to be paying dividends," says the report. These findings bucked trends across the continent, where 41% of women are out of work, as opposed to 23% of men.

"We cannot talk about the prosperity of women in Africa if we don't change the inappropriate policies that hinder their progress," argues Marieme Jamme, a Davos Young Global leader and CEO of Spotone Global solutions. "We cannot sugar coat the issues of funding, mentoring, gender equality, recognition and representation and expect women to come winners within the current framework and plans we have in Africa."

Other notable gainers since 2012 included countries from East Africa -- while neither Kenya nor Mozambique featured in the top 10 most prosperous countries in Africa, they both rose by four places in the rankings since 2012.

As over 44% of Kenyans thought it was a good time to find employment, the country ranked ninth in terms of entrepreneurship and opportunity. But following the 2013 Siege in Nairobi Westgate Mall the country ranked 32 of 38 in terms of safety and security.

sQuashie