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BCN-26
AFRICA-ECONOMY-INNOVATION
Africa’s economies innovating at rapid pace amid policy reforms: report
NAIROBI, July 11, 2018 (BSS/Xinhua) – Sub-Saharan African countries like
South Africa, Kenya, Mauritius and Rwanda have encouraged innovations to
stimulate growth of their economies and spread prosperity, says the 2018
Global Innovation Index report launched in Nairobi and New York on Tuesday.
The report, whose theme was “Energizing the World with Innovation,”
reveals that harnessing science, technology, higher education and skilled
labor has enhanced the competitiveness of African economies.
“The Global Innovation Index has noted that Sub-Saharan Africa performs
relatively well on innovation. Since 2012 the region had had more countries
among the group of innovation achievers than any other region,” the report
says.
“It will be important for Africa to preserve its current innovation
momentum,” adds the report published by World Intellectual Property
Organization (WIPO) and partners from academia and globally acclaimed think-
tanks.
South Africa topped the list of the most innovative economies in Africa
followed by Mauritius and Kenya thanks to policy incentives coupled with
investments in modern technologies, skills upgrade and scientific research.
The 2018 Global Innovation Index notes that supportive infrastructure and
human capital have created an innovation ecosystem that has facilitated
growth and competitiveness of African economies.
Africa’s most innovative economies were able to attract higher foreign
direct investments that translated into more jobs for the youth and increased
revenue streams to support social sectors like education and health.
The 2018 Global Innovation Index report notes that investments in ICTs and
creative industry were behind modernization of economies in Sub-Saharan
Africa.
It finds that innovation achievers in the region had an impressive score
on key indicators like access to credit, robust academia-industry linkages,
protection of intellectual property and export of creative services.
North American and European region had the highest number of countries
with the most innovative economies while China registered a huge improvement.
The 2018 Global Innovation Index report ranked China among the 20 most
innovative economies thanks to robust leadership, investments in research and
high tech industries.
BSS/XINHUA/HR/1450