World Economics, a United Kingdom (UK) based research organisation, has ranked Ghana the 5th best-governed country on the African continent and the best-governed country in the whole of West Africa.
The good governance ranking, according to World Economics, is assessed through four main indexes. The indexes are; corruption perception, rule of law, press freedom, and political rights. The governance index as set by World Economics, gives equal weight to all four criteria set by the researchers.
Index numbers according to World Economics, were all rebased and shown on a scale of 0-100. Governance: 0 = Poor governance, 100 = As good as it gets, Corruption Perception: 0 = Bad, 100 = Good, Rule of Law: 0 = low rule of law, 100 = High rule of law, Press Freedom: 0 = Low press freedom, 100 = High press freedom and Political Rights: 0 = Low political rights, 100 = High
political rights. The grade definitions are A: Very good, B: Good, C: Average, D: Poor and E: Very poor
Mauritius which scored grade B had an index of 69.3 taking the first position on the African continent as the best governed nation, according to the World Economics ranking data published on its website- https://www.worldeconomics.com/Indicator-Data/ESG/Governance.aspx.
Ghana also with a grade of B, and an index of 61.7, secured the 5th position ahead of Senegal, the closest West African counterpart ranks 6th with a grade of C and an index of 53.6.
Namibia is ranked 2nd with a grade of B and an index of 69.1. South Africa is ranked 3rd with a grade of B and an index score of 65.5 and Botswana is placed 4th ahead of Ghana with a grade of B and an index of 65.1.
At the bottom of the ranking is Libya with a grade of E and an index of 15.4. Democratic Republic of Congo (DRC) comes ahead of Libya also with grade E and an index of 21.6 and Chad is placed ahead of DRC with an index of 23.2.
On the global space, Denmark, Norway, Finland, New Zealand, and Sweden ranked 1st, 2nd, 3rd, 4th and 5th respectively. Switzerland, the Netherlands, Ireland, Luxembourg, Canada, Germany, Iceland Estonia, Australia, and the United Kingdom follow.
Ghana is 48th on the rankings as the West African nation edges out countries like Argentina, Bulgaria, Hong Kong, Malaysia, Brazil, Senegal, Malawi, Indonesia, India, Tunisia, Cote d’Ivoire, United Arab Emirates, Benin, Rwanda, Kenya, Morocco, Tanzania, Ethiopia, Nigeria, Turkey, Egypt, amongst other countries.
After more than a decade of sustained research, World Economics has produced a series of new databases that provide a radically different view of the reality of global economic growth in 150+ countries, of great relevance and utility to investors.
World Economics and its parent Information Sciences have for 30 years specialised in developing economic data series that have become part of the financial world’s DNA. Almost all significant banks, financial institutions, major corporations, and governments have subscribed to their services.
Examples of works by World Economics include founding the Purchasing Managers Manufacturing Indexes in 25 countries, the first Eurozone and the first Global Purchasing Managers Indexes (all now owned by S&P Global); the first Country, Region, and Global Service Sector Indexes (all now owned by S&P Global), the first harmonised European and Global Media indexes and the World Advertising Research Center (both now owned by Ascential plc).
