These 10 ECOWAS countries could become knowledge economies by 2023

Gradually, the era of resource-based economy is phasing out with the emergence of new technologies and the need to do every task related to input and output using knowledge and skills. A resource-based economy relies solely on its human and physical capital more than intellectual capital. This approach to economic growth and development still permeates in developing countries, when people and governments in the developed world have shifted to knowledge-based economy, where information and communication technologies, open innovation, education, knowledge management and creativity have been used and still being adopted to spur growth in every aspect of business and humanity.

In this special analysis, Infoprations examines 10 countries in Economic Community of West African States, a regional organisation for the 15 countries in West Africa region, in relation with five indicators that represent a country’s readiness to key into knowledge economy by having environment for knowledge to be used effectively for economic development.  
Analysis shows that in 2017, Benin, Cabo Verde, Cote D'Ivoire, Gambia, Ghana, Liberia, Mali, Nigeria, Senegal and Sierra Leone failed to be at par with the knowledge economy global trends. The global rankings for the 10 countries in quality of scientific research institutions connected with the 2017’s knowledge economy global trends negatively. A 16.10% reduction was found.

On the capacity for innovation and availability of research and training services, positive connections were discovered but not significant. For capacity for innovation, the 10 countries’ Global Competitiveness rank ensured their connection with the knowledge economy global trends by 3.50% while 2.40% was found for the availability of research and training services with the trends. For the information and communication technologies use, 37% of the rankings related with the trends. The connection is positive but not sufficient  for the affected countries not to set new policies and programmes towards the improved use of ICTs for business purposes and knowledge acquisition in the region.

These countries also need to look into the level of creativity and innovation. There is no doubt innovation is absolutely essential to ECOWAS stability and growth in the next five years. This is imperative for the region to actually key into the African Continental Growth Vision by 2023.

Benin, Cabo Verde, Cote D'Ivoire, Gambia, Ghana, Liberia, Mali, Nigeria, Senegal and Sierra Leone need to innovation system that encompasses managerial, organisation and technological capabilities. Huge investment in technological programmes is also desirable. Research institutes and universities equally need to expand their research agenda beyond public, environmental and occupational health that characterised scientific researches in the region from 2007 to 2017 to non-science priority areas.