eBusiness Weekly
WIPO’s GII 2022 report has ranked African countries based on their innovation economies.
Mauritius tops the list, followed by South Africa, Botswana, Kenya, and Morocco. Nigeria is ranked 13th in Africa, behind these countries.
Kenya and Botswana are highlighted in the report for being innovators, with Kenya registering over 30,000 companies and being a leading adopter of mobile and digital technology.
The World Intellectual Property Organisation’s (WIPO’s) Global Innovation Index (GII) 2022 report was released on Monday, ranking countries according to the state of global innovation.
Mauritius emerged as Africa’s most innovative economy, ranking 45th globally with a score of 34,4 percent, followed by South Africa (61st globally, 29,8 percent score), Botswana (86th globally, 23,9 percent score), Kenya (88th globally, 22,7 percent score), and Morocco (67th globally, 28,8 percent score).
Nigeria ranked 114 globally, with a score of 16,9 percent and ranked 13th in Africa.
Kenya: Africa’s digital trailblazer
Kenya is one of the continent’s biggest mobile phones and digital technology adopters, registering 30 300 companies. WIPO notes that the internet and digital penetration have grown to over 570 million internet users in Africa over the last 20 years, and with the arrival of SpaceX’s Starlink and Google’s Equiano, the numbers are expected to increase further. The Kenyan government has recognised cryptocurrencies as legitimate investments, and fintech companies have been particularly successful in attracting VC funding, making it the fourth most innovative economy in Africa.
Botswana’s entrance into the list
Botswana is a new entrant on the list, ranking third in Africa and 86th globally, with a score of 23,9 percent. The country is ranked in several categories, including institutions, human capital and research, knowledge, and technology outputs, reflecting its commitment to promoting innovation.
Nigeria: A call for innovation
Despite being Africa’s largest economy, Nigeria ranked low in the GII 2022 report, with only a 16,9 percent score, placing it at 114 globally and 13th in Africa. The country needs to focus on driving innovation to address challenges faced by its citizens and businesses, including entrepreneurship, food security, and local food production, digital innovation for the future of work, and energy solutions.
The GII2022 report tracks the current state of global innovation and identifies areas where innovation is essential to drive the creation of ideas, businesses, and solutions that address challenges faced by citizens, including support for entrepreneurship, food security and local food production, digital innovation for the future of work, and energy solutions.
WIPO noted that in the last 20 years, Africa’s Internet and digital penetration have grown to some 570 million Internet users, thanks to innovation that led to more than 1,2 million kilometres of Internet cables across the world’s ocean floors.
It added that these numbers will continue to rise with the arrival of SpaceX’s Starlink and Google’s Equiano to further drive digital penetration on the continent.
This comes as Airtel Africa Plc plans to increase its capital expenditure to as much as US$750 million this year as it moves to build its mobile-money business across the continent.
The wireless carrier plans to further develop its technology platform and distribution infrastructure, Chief Executive Officer Segun Ogunsanya said in an interview from the Kenyan capital, Nairobi. The firm, whose board is headed by Bharti Airtel Chairman and billionaire Sunil Mittal, would be raising capital spending from $656 million in the year through March, according to its annual report.
Airtel Africa, with operations in 14 African countries, is looking to ramp up its mobile-phone based financial offering in its biggest market, Nigeria, where the government is promoting cashless payments to expand commerce in the continent’s largest economy. The company’s financial service, dubbed Airtel Money, is its fastest-growing division.
“We are in a very good position to really now take advantage of the cashless policy of the government in driving the penetration of a digital model,” Ogunsanya said.
“We’ve got a lot more phones than debit cards, we’re really planning to automate this opportunity and use this policy to drive differentiation of money in our customer base.” – BusinessInsider
