Since 2006, the English Research Institute The Legatum Institute Prosperity Index reveals the 142 countries worldwide. The institute aims to not only measure economic wealth, but also the welfare of the population of a country.
South Africa, the most prosperous country in Africa
It is based on eight key measure, namely the economy, entrepreneurship and opportunity, education, health, governance, security, personal freedom and social capital, made over four years. South Africa remains the most prosperous African country in Africa, according to the report published on 1 June by the London think tank. The rainbow nation is its sky prominently in prosperity to its good performance in education classes, social capital, health, governance, the presence of entrepreneurial opportunities and personal freedom. The most industrialized economy of the continent, however, achieves average performance in the areas of the economy with a score of 12 points and safety with a score of 19 points. The more points awarded, the higher the category is problematic for the country.
Progress still needed for many
In the extreme, if the Central African Republic and Burundi occupy the last places, others, like Rwanda, Senegal or Burkina Faso, get their pins in the game. According to Legatum Institute, Rwanda has made the biggest advance the previous edition of the ranking, thanks in particular to the reforms launched in the area of strengthening the rule of law and the fight against corruption. Senegal and Burkina Faso have also made good progress due to the improvement in their performance in the areas of personal freedom and governance. “During the last decade, there has been strong economic growth throughout Africa. However, as our results reveal, the legacy of the creation of global prosperity varies widely by country. Countries like Rwanda delivered much with little wealth, while in Angola the situation is the opposite. the country has until recently benefited from a standpoint of wealth due to soaring prices of materials first, but it generated little prosperity for its citizens. by far and above the most important factors of prosperity alongside the ability of a country to generate wealth are the promotion of civil liberties, a strong rule of law and effective institutions and a diversified economy. by making these structural changes, many countries could begin to see the levels of prosperity rise quite rapidly, although overall growth begins to slow, ” the authors write of the study .
Ranking of the top 10 most prosperous African countries:
1. South Africa
10. Burkina Faso