A new "Report on Competitiveness in Africa," presented at the World Economic Forum (WEF) in Cape Town, South Africa on Wednesday (June 13th) named Tunisia Africa's most competitive economy, Tunisian press reported. The report, carried out by the World Economic Forum, the World Bank and the African Development Bank, praised Tunisia for its low levels of corruption, reasonably well-protected property rights, an independent judiciary, strong security environment and well-developed labour market which, combined, outpace the continent's economic leader, South Africa. In terms of the quality of its private institutions and corporate ethics, the report places Tunisia on par with Spain and Portugal. In terms of competitiveness, Tunisia ranks 29th out of 128 economies. Morocco, Libya and Algeria rank 72nd, 73rd and 76th, respectively.