Tanzania ranked as most inclusive economy in Sub-Saharan Africa by World Economic Forum
An inclusive economy gives more people the opportunity to equitably participate in national economic growth.
Tanzania has been ranked as top most inclusive economy in Sub-Saharan Africa index 2018, according to World Economic Forum (WEF).
Inclusive Development Index (IDI) is an annual assessment of 103 countries’ economic performance that measures how countries perform on eleven dimensions of economic progress in addition to GDP.
WEF measures growth and development, inclusion and intergenerational equity – sustainable stewardship of natural and financial resources as the three pillars.
ADVERTISEMENT
An inclusive economy gives more people the opportunity to equitably participate in national economic growth, meaning compared to other Africans, Tanzanians have a better shot at reducing the rich verses poor gap.
Tanzania's major strengths of governance are in the areas of safety and rule of law, national security, participation, and human rights and gender while its major weaknesses are in human development (health and education) and infrastructure.
The IDI is a project of the World Economic Forum’s System Initiative on the Future of Economic Progress, which aims to inform and enable sustained and inclusive economic progress through deepened public-private cooperation through thought leadership and analysis, strategic dialogue and concrete cooperation, including by accelerating social impact through corporate action.
The report found out that African economies have been resilient to negative shocks, yet poor infrastructure remains a key obstacle to the continent’s inclusive growth,
The report notes that Africa could be the next investment frontier and recommends international financial community adapt a policy of more negative real interest rates in high-income countries, use of excess savings to finance public investment in rich countries, and the facilitation of the flow of capital to developing countries.
ADVERTISEMENT
The report estimates Africa’s infrastructure needs at $130–170bn annually.
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: news@pulselive.co.ke
Recommended articles
African countries with the highest divorce rate
Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]
Diwali 2022: Is Monday a public holiday in Kenya?
Akothee finally reveals reasons for separating from Omosh 1 month after wedding
Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]
Details of Ngina Kenyatta's luxurious restaurant
Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama
Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations