In your opinion which African country is likely to become the first developed country on the continent?

0
592

For me rhe best candidate for becoming developed countries in Africa are

Mauritius Reports say Mauritius is more democratic and free than some Western countries and is considered an upper middle income economy. Though, Mauritius is tiny. Some reports even considered the island as a city for statistical analysis accuracy. Mauritians have an average wealth per inhabitant (not GDP per capita) around $32.000, highest in Africa and attracts more and more investors notably Indians.

Seychelles is just 0.003 point to enter the very high human development countries club with an HDI of 0.797 in 2017. Seychellois have the highest GDP per capita of any country in Africa and are relatively highly educated thanks to the small size of its population. Fishing and tourism are the main drivers of the seychellois economy and the wealth is not equally distributed.

Tunisia is actually one of my favorite candidates. Tunisia has good infrastructures and is classified as highly developed by UNDP human development indices and indicators statistical update 2018. Its economy is not dependent on natural resources like other African countries and has relatively good institutions and universities.

Algeria is third among African countries when using the HDI mesures. Algeria exports food to African and European countries and benefits from relatively huge investment from european car manufacturing companies.

South Africa has the most diversified economy of the continent and is home to the largest stock exchange of the continent, also one of the largest in the world, the Johannesburg Stock exchange worths more than 1 trillion dollars. The South African Rand is one of the twenty most used currencies in international trade worldwide. But actually South Africa’s economic development is hindered by bad governance and increasing inequality.

Botswana is also risen as one of the most prosperous and less corrupted countries in Africa and has widely accepted culture of democracy. Botswana has the third or fourth highest GDP per capita in Africa. But as South Africa, the country suffers from a high inequality of wealth and is also dependent on Diamond, nevertheless policies are being implemented to diversify the economy.

Libya is recovering from the Arab spring and is making that very fast. The country has the highest GDP growth in the world with more than 50% annual growth but still the GDP is below 2011 performances. Libya has a small population for huge natural resources, if well managed and planned Libya can easily become the Norway of Africa.

Further future candidates

Morocco, the fourth wealthiest country after South Africa, Egypt and Nigeria (net wealth not GDP) home to a booming financial hub in Casablanca,

Cape Verde and its stable but growing economy,

Ghana who is expected to eradicate extreme poverty by 2030,

Egypt and its relatively prestigious universities and scholars,

Rwanda and it’s daring policies like integrating the OECD or building the best universities in the world, vertiginous indicators growth,

Namibia and its political stability, high HDI and good urban planning policies

Advertisements

Leave a Reply