Nigeria Ranks Below 10 Most Entrepreneurial Countries in Africa

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Entrepreneurship has become an integral propelling catalyst of any economy’s growth. With limited job opportunities and infrastructural development, governments, especially in African countries have turned to entrepreneurs to helps initiate growth and development. Entrepreneurs create businesses and new businesses create jobs, strengthen market competition and increase productivity. In African countries, entrepreneurship is becoming a part of our identity and self-image. Entrepreneurial countries sees entrepreneurship as a route to upward mobility — a way for average people to build wealth.

Surprisingly in 2015 according to Global Entrepreneurial Monitor (GEM), Uganda ranked 1st among the 10 most entrepreneurial countries in the world with Cameroon, Angola and Botswana ranking 4th, 6th and 8th respectively. One would have expected more African countries on the list considering the fast rate at which Africa economies are innovating and becoming self-productive. Unfortunately, according to the Global Entrepreneurship Index only 10 African countries rank among the top 100 most entrepreneurial countries in the world as of 2018. The highest ranking country is Tunisia at number 40, followed by Botswana (52), South Africa (57), Namibia (61), Morocco (64), Egypt (76), Gabon (79), Algeria (80), Rwanda (91) and Ghana (93). Some other African entrepreneurial countries on the list are Nigeria (101), Zambia (102), Cameroon (121) and Uganda (131) amongst others.

GEDI is an annual index that measures the health of the entrepreneurship ecosystems. It then ranks the performance of these against each other. This provides a picture of how each country performs in both the domestic and international context. The GEDI methodology collects data on the entrepreneurial attitudes, abilities and aspirations of the local population and then weights these against the prevailing social and economic ‘infrastructure’ – this includes aspects such as broadband connectivity and the transport links to external markets. This process creates 14 ‘pillars’ which GEDI uses to measure the health of the regional ecosystem.

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