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South Africa, Egypt, and Nigeria Emerge as the African Leaders
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The Frost Radar™ for Economic Development determines a region's future growth and development potential measured by its ability to enhance quality of life (QOL) for its citizens. This report explores Africa’s key strengths and weaknesses through country-level assessments of growth and innovation initiatives and then benchmarks each country on these 2 indices. Buoyed by strong growth in agriculture, commodity prices, and a partial rebound in tourism amid prevalent risks to growth, the African economy is on the road to recovery from the pandemic in 2021. The Frost Radar™ for Economic Development: Africa, 2021, diagnoses the significant challenges to the region’s growth environment, including protracted vaccine shortages, weak fiscal health, and high commodity dependence among others. By measuring performance against the major sub-pillars of the Innovation in Education, Healthcare, Environment, Infrastructure, Human Rights, and Security, the Frost Radar™ offers broad-based insights into the regional economic pulse and identifies key drivers underpinning the growth momentum in the region, such as the Africa Continental Free Trade Area. In this research, Frost & Sullivan indexes the top 10 economies in the African region, South and West Africa, and sub-Saharan Africa to determine what makes them the regional leaders. The Frost Radar™ is intended to empower governments, policy makers, investors, and businesses to identify strategic imperatives for future growth.
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