Ghana has been ranked 7th among the top 10 innovative economies in Africa, according to the 2024 Global Innovation Index (GII) published by the World Intellectual Property Organization (WIPO). This annual report assesses innovation in 133 countries worldwide, highlighting progress and challenges across various innovation cycles, including science and technology investments, adoption of new technologies, and the socioeconomic impact of innovation.
The Global Innovation Index, established in 2007, serves as a key metric for evaluating innovation in regions. It analyzes various factors such as Institutions, Human Capital and Research, Infrastructure, Market Sophistication, Business Sophistication, Knowledge and Technology Outputs, and Creative Outputs to assess the level of innovation within each country.
Ghana ranked 101st globally, with its highest scores in Institutions (71st), Business Sophistication (76th), and Creative Outputs (79th). However, the country’s lower rankings came in Market Sophistication (129th), Knowledge and Technology Outputs (116th), and Human Capital and Research (113th).
Despite a decline in science and innovation investments in 2023 following a boom between 2020 and 2022, Ghana experienced fast technological adoption and showed a positive socioeconomic outlook for innovation. However, progress in green technology remained slow. There was also a slight increase in labor productivity, though the figures remained below the average of the past decade. Additionally, the report noted a significant reduction in extreme poverty in Ghana by 2022, halving the numbers recorded in 2005.
For African countries to improve their innovation rankings and foster economic growth, the report stressed the need for consistent funding in research and development, fostering entrepreneurial research attitudes in academia, and creating supportive environments for business enterprises.
The report categorized countries into income groups. South Africa, Botswana, Namibia, and Mauritius led the Upper Middle-Income Group, while Ghana, Tunisia, Kenya, Côte d’Ivoire, and others were in the Lower Middle-Income Group. Rwanda, Madagascar, and Burundi performed well in the Low-Income Group, excelling beyond expectations for their level of development.
The findings underscore the importance of continual investment in innovation and infrastructure for long-term economic growth and development in Africa.
