Namibia courts affluent global retirees, high net worth investors as Africa’s golden visas gain ground


Uganda, too, is keen on attracting foreign investment and is in the process of planning a citizenship-by-investment program to enhance FDI and provide opportunities for economic growth 
Until recently, foreigners seeking Namibian residency through the country’s residency-for-investment scheme famously had to purchase real estate at President’s Links Estate.

Thanks to increased demand, units in that estate will now set buyers back around US$365,000, The luxury estate, on the Bay of Whales, advertises attractions that are now being touted by similar schemes across Africa: access to a pristine coastal area famous for its high-quality seafood and stunning vistas as well as eco-friendly modern homes, villas, and world-class amenities.
A new, special concession for retirees aged over 60, however, has seen Namibia’s entry point for foreigners lowered to US$300,000.
The new offering for retirees is part of a broader Residence by Investment program the government is using to turbocharge economic growth.
In its latest update, investment consultancy Henley & Partners highlights the “Namibian government is actively seeking foreign investment to boost the country’s economic growth and diversify the economy.”
“It provides many opportunities for international investors seeking a foothold and growth on the African continent, including tax incentives, financing, and a one-stop bureau service for international companies.”
Namibia’s foray into the golden visa market points to a larger trend across Africa.
Other nations on the continent are beginning to recognize the value of attracting foreign investment through retirement and residency programs.
Although Africa’s residence by investment market is relatively new, few states are joining the fray.
Foreign investors in the Mauritius Residence by Investment Program must purchase luxury real estate valued at a minimum of US$375,000 from six eligible real estate projects.
Mauritius offers six real estate projects: Integrated Resort, Real Estate, Property Development, Invest Hotel, Smart City, and Ground +2 Apartment. Each project provides specific benefits and requirements that focus on promoting sustainable development and attracting investment.
Mauritius’ neighbour in the Indian Ocean, Seychelles, offers permanent residence (a “golden visa”) and citizenship to high-net-worth investors, depending on the investment amount.
Interested investors need to fork out at least US$1 million to be eligible for Seychelles’ citizenship by investment program.
South Africa’s residence by investment scheme, the Financial Independent Permit (permanent residence), grants wealthy individuals the ability to work, study, or manage their own business in the country, Apart from requiring a minimum net worth of US$820,000 the permit typically takes eight months to process though the country has in recent years experienced significant delays with the processing of regular work permits.
In Egypt, investors can obtain a passport by investing a minimum of US$250,000, with the option to invest US$500,000 or more.
The Egyptian program officially commenced on March 14, 2020, and in April 2021, the Egyptian government established a dedicated department to review and process investors’ applications.
Kenya is also at an advanced stage of introducing citizenship by investment. In 2021, the country’s Investment Authority (KenInvest) disclosed that the move had faced little opposition.
Uganda, too, is keen on attracting foreign investment and is in the process of planning a citizenship-by-investment program to enhance FDI and provide opportunities for economic growth in the country, while neighbouring Rwanda now offers a special economic zone program that grants investors tax holidays, exemptions, and other benefits in exchange for investments in specific priority sectors.
In June 2021, the government of Zanzibar announced that investors who bought real estate in the country can now obtain a residence permit, which will eventually pave the way for citizenship investment.
In 2022, the Ethiopian government announced its plan to issue 5-year visas for foreign managers and shareholders and 3-year visas for executives and directors. These visas cost US$1,000 for the 5-year visa and US$750 for the 3-year visa.

What can we learn from returning expats?

As South Africa draws closer to the general elections on May 29th, an interesting development that has been noted by real estate and tax professionals in this country and was noted by The Times of London on 18 February, is the returning of expats to South Africa from Britain and mainland Europe. 
This is, as the article notes, despite the multiple challenges of loadshedding, high crime and a severely underperforming economy. I should note that those are the reasons why many South Africans are choosing to emigrate. It is worth asking why people who have already escaped these debilitating challenges, and some who have been away since the 90s would come back. 
While the article does offer its own reasons, I believe there are some quite rational reasons to come back and bet on South Africa, especially if an ANC/EFF coalition does not win in May. 
Cost of Living
The most obvious reason is the cost-of-living crisis that is engulfing the developed world, especially around housing. It is one of the main reasons why Europe and the developed parts of Asia are having demographic crises. People have fewer children because of the cost of housing and childcare. Unlike in South Africa, very few people there can afford domestic and childcare help. The only exception to this, where there is a large population of South Africans, is the UAE. 
South Africa offers exceptional value when it comes to housing costs (especially outside of Cape Town), childcare costs, schooling costs and domestic help costs. For comparison, even in the UAE, where tax-free incomes are surely a draw, sending your children to a school with a British or International Baccalaureate curriculum will set you back similar amounts (sometimes even more) to boarding at Michaelhouse and Hilton. Who can really say with absolute confidence that the education in the UAE or even Britain, Australia and New Zealand is better than South Africa’s much cheaper private and former Model C schools?
Are Dubai College or Auckland Grammar honestly better than Grey College Bloemfontein, KES or Rondebosch Boys? If anyone says yes definitively, what evidence could they possibly offer that is not denigrating those fine schools because they are in South Africa?
How about the fact that the foodie and fine dining scene in Johannesburg and Cape Town can rival any others, and I’d argue for Cape Town even outdoing many globally-fancied cities for a fraction of the cost of those cities. As an example, take FYN restaurant in Cape Town which is ranked as one of the top 50 restaurants in the world. Their dinner menu experience, while relatively expensive for locals, costs R3525 with a wine pairing. At the restaurant after it in the rankings, Danish restaurant Jordnaer’s, the dinner experience costs 3300 Danish Krone (R9200). The restaurant in front of it, Odette in Singapore, costs 733 Singaporean Dollars (R10450) with a wine pairing. Even adjusting for purchasing power parity, South Africa again offers immense value.
Weather and Fun:
South Africa also has much better weather and a lot more sunshine than places where many of our expats are, with the exception being Australia. South Africa has every possible amenity and adventure you could want, either within the country or a relatively short flight away: from wildlife in the Kruger, to the world-class wine farms of the Western Cape (five in the top 100 in the world as ranked by World’s Best Vineyard Awards in 2023), beautiful beach towns (getaways) in both the Eastern and Western Cape. Mauritius, the Seychelles and Zanzibar are a relatively short flight away and if you want a Dubai-esque desert adventure, Walvis Bay in Namibia is a two- hour flight away. There are luxury train experiences with the Blue Train and Rovos Rail. All this is just to say we have lots of pleasant weather and lots of really cool and awesome things to do at relatively cheaper prices than anywhere else.
Friends and Family:
As infuriating and frustrating as it is living in South Africa, for many expats it is still home and nothing compares to it. They miss friends and family and all the accompanying warmth and familiarity.
So what’s my point?
It is worth pondering on the fact that, relatively speaking, so many expats come back to South Africa despite all the potential frustrations and the multiple challenges. It is worth asking how many more would come back if South Africa were to fall under new management, if infrastructure and service delivery were to improve and management took on more pro-growth policies instead of redistributionist ones. 
It is also worth asking what the cumulative effect would be on South Africa in terms of tax collection and revenue, if high-earning expats did come back, paying down sovereign debt. What would that mean for job creation?
It is worth asking what it would do for tourism and our international reputation if a new government prioritised public order and safety, and reduced crime and lawlessness.
Admittedly these are all big if’s, especially if an ANC/EFF coalition were to win. That is part of the real risk-and-reward nature of South Africa. We are one of the few food-exporting countries in the world, we are sufficiently developed. We have the potential to become a rather wealthy nation with all our minerals and with some really good management.
However, we could also collapse into a dreary and failed Zimbabwe-like state.
I guess we have choices to make in May.

South Africa’s super-rich are sinking


The latest Knight Frank Wealth Report 2024 shows that South Africa has lost 11 ultra-high-net-worth individuals in the last year while thousands more millionaires have been lost over the last decade.

The 2024 instalment of the report is based on responses provided during December 2023 by more than 600 private bankers, wealth advisors, intermediaries and family offices who, between them, manage over $3 trillion (R57 trillion) of wealth for Ultra-high-net-worth individual (UHNWI) clients.

An ultra-high-net-worth individual is defined by Knight Frank as someone with a net worth of $30 million (approx. R570 million) or more.

According to the report, the number of UHNWIs globally rose 4.2% to 626,619 from 601,300 a year earlier, more than reversing the declines seen in 2022.

At a regional level, wealth creation was led by North America (+7.2%) and the Middle East (+6.2%), with Latin America being the only region to see its population of wealthy individuals decline.

Compared to 2022, Africa realised a 3.8% rise in the number of super-rich people, recording 2,996 UHNWIs in 2023 in contrast to the 2,886 noted in the previous year.

South Africa’s super-rich

Despite the global increase in the numb

Cape Town Carnival 2024 Promises a `Lekker` Time for All


During a vibrant media launch, the Cape Town Carnival provided a sneak peek into the upcoming festivities scheduled to commence on March 16, 2024, along the iconic Green Point Fan Walk. The Cape Town Carnival, a registered social impact initiative under the leadership of Professor Rachel Jafta from Stellenbosch University, showcased the diverse and creative contributions from over 1,000 performers across the province.


The media launch featured enthusiastic dancers portraying fantastical worlds, including a deep sea with mythical creatures, a landscape made of sweets, and vibrant scenes of feathers and fynbos. The theme for this year`s carnival, revealed by Jay Douwes, CEO of Cape Town Carnival, is `Lekker,` reflecting the light, fun, and diverse essence of Cape Town and South Africa.


Professor Rachel Jafta highlighted the multi-faceted impact of the Cape Town Carnival, emphasizing its contribution to the local economy and skills development. Jafta noted that beyond the economic aspects, the event fosters social cohesion, bringing communities together across diverse backgrounds.


Acting Mayor Eddie Andrews expressed the City of Cape Town`s pride in partnering with the Cape Town Carnival, recognizing its role in attracting investment and positioning Cape Town as a city of hope. Sibusiso Sakayi, a performance facilitator for the carnival, shared his journey from being a spectator to becoming a choreographer and performance facilitator, highlighting the transformative opportunities provided by the event.


Sponsored by various entities, including the Western Cape Government, City of Cape Town, KFM 94.5, Southern Sun, DSTV, MultiChoice, Naspers, and the National Department of Arts, Culture, and Sport, the Cape Town Carnival continues to be a celebration of diversity, culture, and creativity.

Gauteng High Court Rules in Favor of Motsoaledi on Detention of Illegal Immigrants

The Gauteng High Court in Johannesburg has ruled in favor of Home Affairs Minister Dr. Aaron Motsoaledi in response to an application by a group of illegal immigrants. The immigrants claimed that their detention at the Modderbee Correctional Services Centre in Benoni was unlawful and violated immigration and refugee acts.

The court found no basis for the argument, stating that the expression of intention to apply for asylum does not trigger the protections in section 2 of the Refugees Act 130 of 1998 section 21(1b) requirement to show good cause for illegal entry and stay in the country.

The application was brought by Thomas Godiso, Abi Osman Yusuf, and four others on an urgent basis. They sought to interdict the minister and other respondents from detaining, prosecuting, and deporting them until their status is lawfully and finally determined under the Refugees Act 2 as amended.

The applicants also sought declarators that their continuing detention is unlawful and, in terms of section 2 of the Refugees Act, they are entitled to remain lawfully in the Republic of South Africa until their applications for refugee status are finally determined.

Additionally, the applicants sought orders directing the minister and director-general of Home Affairs to accept their applications for asylum, issue them with temporary asylum seeker permits within 15 days, pending finalization of their asylum seeker applications.

Judge Dunstan Mlambo dismissed the application, ordering the applicants to pay costs for the amendment application. He directed the respondents to afford the applicants an opportunity, within 60 days, to show good cause in terms of section 21(1b) of the Refugees Act 130 of 1998.

The applicants, some from Ethiopia and Somalia, claimed persecution in their home countries due to their political and religious beliefs. Arrested in 2023, they argued that seeking refuge in South Africa was a result of persecution by Ethiopia's ruling party.