A recent report has brought to light the fact that Nigeria and South Africa are leading the pack when it comes to African countries actively seeking residence and citizenship in foreign nations, particularly in regions like the United States and the United Kingdom.
These countries have witnessed a substantial surge in interest for foreign passports, with a remarkable 46% increase in inquiries recorded during the third quarter of 2022. Furthermore, the report discloses that African countries, as a whole, have consistently maintained an upward trajectory in terms of global investment and market growth, signifying a 23% increase in inquiries during the previous year.
This report, which was published by Henley and Partners, a respected authority in citizenship and residence planning, brings to light some interesting statistics. It emphasizes that South Africa, Nigeria, Egypt, and Algeria have all found themselves among the top 20 nationalities actively participating in the investment migration process.

Of notable interest is the fact that South Africa and Nigeria occupied the top positions in terms of countries pursuing these applications throughout the year 2022. Other countries included in this list comprise Algeria, Egypt, Ghana, Kenya, Morocco, and Uganda.
Weyinmi Oritsejafor, a Client Advisor at Henley & Partners UK, delved into this latest trend, shedding light on the motivations behind the quest for second citizenship. According to Oritsejafor, a significant portion of African investors and individuals are driven by the desire to secure more potent passports. These upgraded passports offer a dual benefit: they simplify international travel while granting access to a wider spectrum of the global economy through visa-free privileges.
In fact, the Henley Passport Power Index for October 2023, which ranks passports based on the percentage of global GDP each passport provides its holders via visa-free access, serves as a pertinent example. This index highlights the advantages that holders of passports from Africa’s wealthiest countries can expect. For instance, South Africa, a nation with the highest number of millionaires on the continent, provides its passport holders with access to 107 (47%) of the world’s 227 destinations without requiring a visa. However, it’s noteworthy that these passport holders only contribute to approximately 16% of the global GDP.
Egypt, the African nation with the second-largest millionaire population, offers its citizens visa-free access to a relatively limited 54 destinations, which accounts for only 24% of the world’s total. Nevertheless, Egypt’s global GDP contribution remains relatively modest at just 4%.
On the other hand, Nigeria, which boasts the third-largest concentration of millionaires on the continent, represents approximately 0.5% of the global GDP. Unfortunately, Nigerian passport holders can only access 44 out of 226 destinations worldwide with visa-free or visa-on-arrival options, covering about 1.5% of the global economy.
As Oritsejafor aptly observed, “Improving your economic mobility and accessing a higher share of global GDP matters because it leads to greater financial freedoms that facilitate conducting business and international banking and investment, as well as entrepreneurial opportunities.” The ability to enjoy greater visa-free access to more stable economies can also mitigate the risk associated with country- or jurisdiction-specific challenges.
Nevertheless, this trend of investment migration does not bode well for Nigeria’s economy. While it can stimulate global trade in a general sense, it also underscores the ongoing challenges faced by Nigeria’s economic landscape. Additionally, investment migration can result in the outflow of scarce capital from Nigeria to the host country for investment, further diminishing the availability of capital within the country. Lastly, the report underscores the notion that African countries, with Nigeria being a prime example, are not seen as attractive investment destinations for African investors. This perception can make it considerably more difficult for these countries to draw in foreign direct investment, a crucial driver of economic growth and development.
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