8 October 2024
Botswana dropped three positions in the Global Innovation Index, which ranks 133 economies surveyed by the United Nations agency, the World Intellectual Property Organisation (WIPO).
Botswana ranks 87th among the 133 economies featured in the Global Innovation Index (GII) 2024, a decline from its previous position of 85th last year. According to the GII, the country performs better in innovation inputs than in innovation outputs, reflecting a lower overall standing compared to last year.
This year, Botswana’s inputs position is 64th, down from 61st last year. In terms of innovation outputs, Botswana ranks 110, which remains unchanged from the previous year. According to WIPO, Botswana generates fewer innovation outputs compared to its level of innovation investments. Additionally, in relation to its GDP, Botswana’s performance falls short of expectations for its stage of development.
Botswana ranks 27th among the 34 upper-middle-income economies and ranks 3rd amongst the 27 economies in Sub-Saharan Africa. The Global Innovation Tracker 2024 shows the current state of innovation in Botswana and how rapidly technology is being embraced and the resulting social impact.
Botswana ranks lowest in knowledge and technology outputs (112th), creative outputs (108) and infrastructure (97th).
Botswana ranks highest in institutions (36th), business sophistication (6th), human capital and research (74th) and market sophistication (79th).
In Sub Saharan Africa, Mauritius (55) leads the region followed by South Africa (69), Botswana (87), Cabo Verde (90) and Senegal (92). Eight of the region’s economies moved up the GII ranking, including Mauritius, Cabo Verde, Senegal, Kenya (96th) Zambia (116th) Benin (119th) Mauritania (126th) and Burundi (127th).
Mauritius leads worldwide in venture capital (VC). Cape Verde ranks 1st in gross capital information, while South Africa performs well in ICT services imports and global brand value. Senegal excels in gross capital formation, unicorn valuation, loans from micro-finance institutions, FDI net inflows and VC received.
Switzerland, Sweden, the United States, Singapore and the United Kingdom are the World’s most innovative economies while China, Turkey, India, Vietnam and the Philippines are the fastest 10-year climbers.
The Global Innovation Index (GII) ranks world economies according to their innovation capabilities. Consisting of roughly 80 indicators, grouped into innovation inputs and outputs, the GII aims to capture the multi-dimensional facets of innovation.
The reports have been produced annually since 2007, and are aimed at providing data on innovation to assist policymakers in evaluating their innovation performance and making innovation policy decisions.
Source: Business Weekly & Review
