World Economic Forum’s Global Competitiveness Index has seen Namibia climb six places owing to the country’s improvement in the 11th and 12th pillars of the index

The recently released World Economic Forum's (WEF) Global Competitiveness Index (GCI) has seen Namibia climb six places owing to the country's improvement in the 11th and 12th pillars of the index.

The report, released on Wednesday, credits Namibia for significant gains made in the country's entrepreneurial culture and has seen it move from 100th place to 94 out of the ranked countries.

The entrepreneurial culture component of the index shows an improved score of 52.9 out of 100 for attitudes towards entrepreneurial risk, 60.5 for willingness to delegate authority and 47.8 for growth of innovative companies.

The methodology used by the WEF to rate Namibia's performance on the index gives the country above average results in all three entrepreneurial culture components.

The country scored 4.2 on a scale of 1 to 7 in terms of appetite for entrepreneurship risk.

Source: Namibia Press Agency