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Africa’s Wealthiest States have the Highest Number of Applicants for Residence and Citizenship by Investment Programs

The Henley Global Citizens Report Q3 2022 revealed that South Africa and Nigeria were in the top 10 countries globally in terms of applications in 2022, and other African countries generating high levels of applications were Algeria, Egypt, Ghana, Kenya, Morocco, and Uganda. According to Henley & Partners, many African investors are driven by the need to secure stronger passports so they can travel with relative ease, but this also enables access to a greater proportion of the global economy in terms of the GDP they gain visa-free access to. The October 2023 Henley Passport Power index, which ranks passports according to the percentage of global GDP each passport provides to its holders visa-free, revealed that passport holders of Africa’s wealthiest country with the most millionaires, South Africa, can access 107 (47%) of the world’s 227 destinations visa-free, but they account for only about 16% of the world’s GDP.