Services: innovation data: Nigeria & South Africa at a glance. Fact sheet 18

Abstract

Nigeria and South Africa are Africa's largest economies, with a combined GDP that rivals those of all other African nations together. However, GDP growth rates in both countries have stalled in recent years, and major societal ills persist. As middle-income economies that have made a transition from primary industry to services-based growth, Nigeria and South Africa's innovation performance should concern policy-makers. As this Fact Sheet illustrates, while services firms in both countries use training and technology acquisition as key innovation strategies to improve the quantity and quality of their value propositions, Nigerian and South African firms face critical financial and other barriers to innovation.