mmnjug™ Profile picture
11 Dec, 17 tweets, 3 min read
Wealthy Kenyans have stepped up the search for a second passport in the exclusive small Caribbean island nations of Dominica and St. Kitts and Nevis amid anxieties about the next elections and the effects of Covid-19 on the economy. - @BD_Africa
Global residence and citizenship advisory firm Henley & Partners in its latest report said that in the 12 months to November, Kenya saw a growth in enquiries about citizenship by investment (CBI) of 116%
This shows growing interest among the wealthy in finding a second home or “plan B” and a powerful passport that would further open opportunities for them.
Globally, the top five countries in terms of CBI enquiries were all emerging markets: India, South Africa, Bangladesh, Pakistan, and Nigeria.
Kenya has seen tremendous growth in enquiries of 116 percent between mid-November 2019 and the same period in 2020, while India saw growth of 61 percent, off an already high base in the same period, and Nigeria saw 30 percent growth, also off an impressive starting point.
Savvy investors realised that diversification is as relevant to lifestyle planning as it is to wealth management. By spreading assets across a range of markets and jurisdictions, over time they are more likely to harvest returns than if they hedge their bets on one country alone.
According to CS Global Partners, another citizenship advisory firm, Kenya’s wealthy elite have been quietly taking advantage of the CBI programmes, with a majority having an interest in the small but exclusive Caribbean island nations of Dominica and St Kitts and Nevis.
The Caribbean offers a luxurious lifestyle combined with accessibility which appeals to many Kenyan entrepreneurs and those wanting a better life for their families.
Some wealthy Kenyans are now forking out up to Sh330 million to get the second passports.
For instance, a Kenyan with two children (minors) can spend about Sh22M to apply for citizenship in Saint Kitts or Nevis. About Sh16.8M goes to the government, with the rest paid to the adviser, due diligence and passport fees.
The amount paid is dependent on the country’s requirements including investment in real estate, tourism, and other businesses for a specified time, in exchange for citizenship. The amount invested is considered a donation to the government.
The second passport, especially from the Caribbean countries like the Dominica Republic, offers more opportunities for the rich Kenyans, allowing them visa-free access to over 140 nations, including the US, Europe, and Asia, which the Kenyan passport cannot.
As it is, the Kenyan passport allows visa-free access to only 65 countries, most of them in Africa.
For Kenyans travelling abroad, they have to apply for visas before entry to 140 countries, pointing to why the CBI programme is attractive to the country’s elite.
Kenya allowed for dual citizenship after the promulgation of the 2010 Constitution, enabling the affluent to seek residency in countries where they can access better healthcare and international schools for their children, and can conduct business globally.
The spike in interest within the last one year has also been driven by the upcoming elections and the ravaging effects of the Covid-19 pandemic on the economy.
Do you have Kes300M to buy the citizenship of Dominica and St. Kitts and Nevis and move from this place while making the world your playground?

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More from @mmnjug

13 Dec
Drama.on SportPesa 🧵 no.2:

With the billions flowing into @SportPesa, Pevans East Africa Ltd, the cash cow of the Nikolov empire, embarked on an expansion phase. It opened companies or offices in Tanzania, SA, the Isle of Man, the UK, the Canary Islands, Russia and Italy.
But it is the local subsidiary, Bradley, that shows that despite Nikolov’s high perch, the notoriety of his past hung on him like white on rice.
Bradley, whose main brand was the @pambazukake lottery, was launched in May 2016 and, by the time it closed shop slightly less than two years later, had accumulated losses of more than Sh1.5B, which were written off in the books of Pevans in its 2018 accounts.
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Regina Wamuyu Githaiga purchased a ticket number 003096663 for Sh65 on December 3, 2005. She was given part ‘A’ of the ticket and First Lotto sales agent — at an outlet managed by Sammy Kariuki Wambugu — retained part ‘B’ and ‘C’ of the coupon as per the rules. - @NationAfrica
Her combination won a jackpot of Sh12 million during a draw the next day. Excited, she rushed to the company to claim her prize, but soon learnt that getting her Sh12 million would not be a walk in the park.
Wamuyu presented her winning coupon on December 6, but the joke was on her. The lottery she had won was only in her dreams. The company disowned its own tickets and said no one had ever won the jackpot on offer.
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Motorists attracted by the stylish number plate designs being sold in Nairobi face fines and jail terms for fitting unauthorised registration plates on their vehicles. - @NationAfrica
.@ntsa_kenya says there has been increased circulation of new number plate designs with unique fonts, obtained from unauthorised sources by motorists seeking to stand out.
The makers of the “trendy” plates target high-end vehicle owners and have even made some for government vehicles, a boon for fake plate makers.
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ICYMI: @SafaricomPLC has updated the MySafaricom app to include one of the most sought-after features: fingerprint recognition.
From the new MySafaricom app update, users can now redeem Bonga Points from within the app. This is something that was not available before.

Now, rest assured that no one will poke around the app, and checking your balances (ordinary balances like airtime and data do not need PIN authentication for obvious reasons) without your permission.

Read 5 tweets
11 Dec
Belief in God is one of the reasons seven in 10 youths do not think they are at risk of contracting SARS-CoV-2 virus; a new report by @Amref_Kenya has documented. - @StandardKenya
A report by Amref Health Africa has also listed lack of travel history, youthfulness, hot weather and the claim that the virus is not in Kenya as the reasons behind youth branding themselves as immune to the virus.
The report titled Lived experiences of youth during the Covid-19 pandemic: implications for policy and programme considerations in Kenya states that 74 per cent of individuals aged 18-35 believe their risk is low of getting the virus.
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11 Dec
Kenya’s oldest lottery company, Kenya Charity Sweepstake @KCS_Kenya, has launched a digital platform in efforts to grow market share in the gaming and lottery market. - @BD_Africa
The firm, which has over the years been known for lottery scratch cards, will now have its services available online through mobile application and on the website.
KCS chief executive officer Yaron Farachi said the new development is part of rebranding of the company as it seeks to be the leading lottery firm in the country as well as adapt to the new realities in the market.
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