Namibia has improved its global competitiveness ranking from 100 out of 141 countries

Namibia has improved its global competitiveness ranking from 100 out of 141 countries to 94th position, the Global Competitiveness Index (GCI) Report for 2019 shows.

The report released by the World Economic Forum (WEF) on Wednesday covers 141 economies using the GCI which measures national institutions, policies and factors that determine a country's level of productivity.

Namibia's improved ranking is attributed to an improved score on Information and Communication Technology (ICT) adoption, which saw the country improve its score from 37.3 out of 100 last year, to 48.1.

Other factors that significantly contributed to Namibia's ranking include the country's macro-economic stability, an improved financial system and a strong labour market.

Yemen, the Democratic Republic of Congo, Haiti and Mozambique are ranked among the least competitive economies, with Chad being the lowest at 141.

Source: Namibia Press Agency