TANZANIA beats its East African counterparts in the well-being of citizens, according to a study by a London-based institute.
The Legatum Institute’s Prosperity Index for 2011, which covered 110 countries as “an inquiry into global wealth and well-being”, ranked Tanzania 96th, Rwanda at 98th, Uganda 100th while Kenya was at 102nd.
Tanzania’s best ranking was for social capital, where it achieved the 61st position out of 110 countries, while the worst performance was in the entrepreneurship and opportunity, where it was ranked 105th. The Legatum Institute noted that Tanzania does not encourage innovation as it fosters almost no innovative activity.
“Royalty receipts were negligible in 2008, and ICT goods comprised a mere 0.6 percent of total exports,”it notes. But despite these poor objective measures, it notes that Tanzanians were thinking that their country was a good place for entrepreneurs, placing the country in the top 20 nations on this variable.
The report says subjective assessments of entrepreneurial opportunities in the country were positive, with over three-quarters of the people believing that the area they live in is a good place to start a business. In addition, the report says majority, also thought that those who work hard will prosper.
“This high level of optimism is perhaps surprising, given that new businesses face high start-up costs of 31 percent of GNI per capita,”it notes. It notes that a relatively low proportion of Tanzanians by global standards, 82 percent believed that hard work will be rewarded.
On good governance, the country ranks 74th, adding that although Tanzanians perceive widespread corruption, they approve of their government. It notes that the government is relatively popular among its citizens with over 64 percent approving of their government.Over six in 10 Tanzanians had confidence in their judicial system, which is slightly above the global average, placing the country 43rd on this variable.
Source: AllAfrica.Com – 13 Jan 2012