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World Economic Forum Report Ranks Rwanda 2nd In Africa

Africa

World Economic Forum Report Ranks Rwanda 2nd In Africa

The World Economic Forum’s Competitiveness report has put Rwanda in second position in Africa.

The 2017-2018 report indicates that Rwanda has risen by one position continentally as an outcome of the country’s efficient goods and labor markets, zero tolerance to corruption, government stability and proper healthcare among others.

Rwanda comes after Mauritius, shelving South Africa, which still remains one of the most competitive countries in sub-Saharan Africa.

WEF’s report indicates that Rwanda has experienced an upward trend in national competitiveness over the years, after strengthening institutions, policies and factors that determine the level of productivity in the country.

In the twelve-policy domain framework in which the Global Competitiveness Index is presented, Rwanda scored an average of 5.53 out of 7 in achieving global best practices.

The country has also shown a continuous upward trend since 2012, improving from position 63 to currently 58 globally.

However, Rwanda suffered from doubling inflation from 2.5% in 2015 to 5.7% in 2016.

In addition, the country faced a number of challenges in telecommunications, transport and infrastructure.

The World Economic Forum’s Competitiveness report assesses the competitiveness landscape of 137 economies based on the Global Competitiveness Index.

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