WIPO recently published its 16th edition of the Global Innovative Index (GII). The GII lists the leading economies in global innovation, ranking the innovation performance of 132 economies. The GII ranking highlights both the strengths and weaknesses of each economy. The GII measures innovation based on criteria that include institutions, human capital and research, infrastructure, credit, investment, linkages; the creation, absorption and diffusion of knowledge; and creative outputs.
Topping the list as the number one most innovative economy for 2023, for the 13th year in a row, is Switzerland. The top 5 most innovative countries include Sweden (2nd), the United States (3rd), the United Kingdom (4th) and Singapore (5th).
Mauritius, ranked 57th, is the highest ranked African economy followed by South Africa (59th), Morocco (70Th), Tunisia (79th), Botswana (85th), Egypt (86th), Cape Verde (91st), Senegal (93rd), Namibia (96th) and Ghana (99th). Angola, ranked 132, is the lowest ranked country for innovative performance in 2023.
The GII ranking indicates that Rwanda (103rd), Madagascar (107th) and Togo (114Tth) performed above their expectations for their level of development.
Importantly, investor confidence in Africa was confirmed by the GII report that disclosed that Africa was the only continent not to see a decline in the amount of money invested, which remained unchanged from 2022.