Namibia has been ranked the most entrepreneurial country in Afrika by the inaugural Ashish J. Thakkar Global Entrepreneurship Index.
The index measures entrepreneurial environments around the world and assesses each of its 85 countries against a set of criteria that spans policy, infrastructure, education, entrepreneurial environment and finance.
Based on the Global Index, of the African nations, Namibia ranks 42nd overall, Rwanda ranks 43rd, Botswana ranks 44th and South Africa ranks 46th , all four countries perform well on the ‘Policy’ pillar of the index but have some way to go to improve on their infrastructure and education in particular.
The index also shows that Rwanda scores highly on the Policy and Finance Pillars driven by government initiatives to increase the ease of doing business. Credit is reported to be easily available in the East African country and business transparency is said to be high.
"Through the work of Mara Group over the past 20 years, I have come to recognise the immense contribution that entrepreneurs make to economies and societies around the world – particularly in relation to job creation."Ashish J Thakkar, Founder, Mara Group & Mara Foundation
Founder of the Mara Group and Mara Foundation, Ashish J. Thakkar, said that in recent years it has become more and more apparent that governments and the private sector are simply not doing enough to support entrepreneurs in their endeavours hence they created the Inde with the hope of providing policy recommendations that will help guide discussions and improve entrepreneurial environments globally.
Overall, significant challenges exist in terms of Afrika’s political stability, underdeveloped infrastructure, poor education and under-diversified economies.
Also, comparatively lower scores for infrastructure are primarily driven by a lack of electrical access and the technology that comes with reliable access to energy, such as telecommunications and internet access.
Lower scores for education are due to the overall quality of education and lower literacy rates. Boosting opportunities for a quality education is imperative for increasing the region’s quality of entrepreneurs and start-ups and providing a suitable workforce.
Cover Image Credit: Africa Progress Panel