The World Bank has classified Mauritius as a high-income country for the first time, joining Seychelles as the second high-income economy in Africa. The institution classifies the world’s economies into four income groups — high, upper-middle, lower-middle, and low. This is based on Gross National Income (GNI) per capita (current US$), calculated using the Atlas method. The classification is updated each year on July 1st based on the previous year’s national account information and using data provided by Statistics Mauritius for 2019.
‘It is important to note that this classification is done over 2019 data and thus does not yet reflect the economic impact of Covid-19’, said Erik von Uexküll, WB Country Representative for Mauritius. ‘It is possible that a strong recession this year due to Covid-19 would cause Mauritius to temporarily return to upper-middle income level next year once the 2020 data is considered. But in a longer-term perspective, this is a great achievement that reflects the efforts and dedication of generations of Mauritians to build a better future for their children, and I would like to congratulate the people of Mauritius for reaching this milestone.’
According to the figures released by the World Bank, Mauritius’ GNI per capita for 2019 is US$12,740, a 3.5 percent increase over the 2018 figure. The annually adjusted high-income threshold is now at US$ 12,535.
- Low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,035 or less in 2019. African countries that made this round include: Guinea-Bissau, Sierra Leone; Burkina Faso; Somalia; Burundi; South Sudan; Central African Republic; Liberia; Sudan; Chad; Madagascar; Congo, Dem. Rep; Malawi; Eritrea; Mali; Togo; Ethiopia; Mozambique; Uganda; The Gambia; Niger; Guinea; Rwanda.
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- Lower middle-income economies are those with a GNI per capita between $1,036 and $4,045. African countries that made this list include: Angola; Algeria; Kenya; Benin; Senegal; Capo Verde; Lesotho; Tanzania; Mauritania; Cameroon;Tunisia; Comoros; Congo, Rep.; Côte d’Ivoire; Morocco; Djibouti; Egypt, Arab Rep; Zambia; Eswatini; Nigeria Zimbabwe; Ghana.
- Upper middle-income economies are those with a GNI per capita between $4,046 and $12,535. African countries that made the list include: Botswana; Equatorial Guinea; Gabon; Libya; Namibia; South Africa.
- High-income economies are those with a GNI per capita of $12,536 or more. African countries that made this list include: Mauritius and Seychelles.
For more details on the World Bank’s income classification:
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
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