Sub-Saharan Africa is home to some of the world’s most corrupt economies: while Botswana is the highest ranked at 30th in the Corruption Perceptions Index 2013 out of 177 economies, many others such as Kenya rank over 100. While some such as Nigeria are experiencing declines in their corruption levels, many others are improving: Rwanda for example rose from 103rd in 2008 out of 180 countries to 49th in 2013. Because corruption levels are strongly linked to economic stability, foreign direct investment inflows and government spending in areas such as education, this is contributing to a significant increase in average per capita consumer expenditure in markets where corruption is improving. This will boost long term prospects for consumer goods companies.
Corruption Perceptions Index Rankings in Selected Sub-Saharan African Economies: 2008/2013
Source: Euromonitor International from Transparency International
Note: 2008 rankings are out of 180 countries, 2013 out of 177 countries.