IOA releases Africa Country Benchmark Report

In On Africa, a research consultancy company, recently released its Africa Country Benchmark Report, providing an in-depth assessment of an array of data on African countries to offer a comprehensive analysis. The report focuses on four key themes: business, economics, politics, and society. Jonathan Mundell, CEO of In On Africa, explained in an interview with CNBC Africa that the company has been working for the past decade to help both private and public sector clients navigate the complexities of the African markets and policy landscape. Mundell highlighted the need for a holistic understanding of Africa beyond just looking at specific aspects like political stability or corruption. While traditional indexes and ranking systems tend to focus on specific data points, In On Africa's report aims to bring together a wide range of data, including key indicators like literacy levels, poverty rates, and HIV prevalence, to give readers a more complete view of the continent. The Africa Country Benchmark Report revealed some interesting findings based on the analysis of all 54 African countries. Southern African countries emerged as top performers, with Mauritius leading the pack. The report categorized the analysis into four quadrants - business, economics, politics, and society - and identified key trends such as the importance of democratic governance, the need for good policies to drive development, the potential of Africa's youthful population, and the shift towards diversified economies. One of the notable observations from the report was the move away from a heavy reliance on natural resources towards more sustainable economic practices. Mundell pointed out the significance of diversified economies and the dangers of depending solely on resource rents for economic growth. The report is designed to benefit a wide range of users interested in Africa, including international organizations looking to target social development initiatives and businesses seeking expansion opportunities. By combining 34 different indexes, including the World Bank's ease of doing business index, In On Africa offers a comprehensive overview of the African landscape for potential investors and policymakers. Mundell likened the approach to a 'meta-analysis' of indexes and surveys, where various data sources are consolidated to provide a more nuanced view. In addition to assessing existing research conducted by organizations like the World Bank and the EIU, In On Africa leverages a network of experts across more than 30 African countries to offer on-the-ground insights that go beyond traditional data points. Despite the current challenges faced by South Africa, the country still ranked fourth overall in the Africa Country Benchmark Report. Mundell highlighted South Africa's strong political structures and vibrant economy as key factors contributing to its position in the ranking. He emphasized that there is reason for optimism about South Africa's future, despite the negative sentiment surrounding the political environment. The top three performers in the report were all island nations: Mauritius, Seychelles, and Cape Verde. These countries showcased impressive performances across various indicators, solidifying their positions as leaders in the African context. In conclusion, In On Africa's Africa Country Benchmark Report provides a comprehensive and insightful analysis of the diverse African landscape, offering valuable insights for organizations, businesses, and policymakers looking to engage with the continent.