07-06-2023 by redazione
Kenya is once again thinking, as it did a few years ago in the mind of its then leader, Uhuru Kenyatta, of selling Kenyan citizenships to foreigners, in order to recover some fresh money that would help mitigate inflation and to entice into business many investors who often see the country's bureaucracy as an insurmountable obstacle. Is this true or only a dream for certain people?
In Kenyatta's vision, paid citizenship, along the lines of what is already happening in other countries, e.g. in Central and South America, could have helped reduce the public debt and especially the debt accrued in recent years with foreign nations and the International Monetary Fund due to the many development and infrastructure projects. The figure is around USD 70 billion and the old executive's 'Vision 2030' no longer looks so sharp.
Clearly the prices will not be affordable, considering also that the state will lose work permits and other benefits that foreigners bestow in order to operate in Kenya. Meanwhile, from what we hear from the benches of parliament, the first step will be to facilitate long-term residency, perhaps by activating special five-year permits (as is the case in other African countries) to enable investors to implement long-range investment and growth plans, without being forced to improvise or feel tied to the noose of renewal every two years,
Not too long ago, the Daily Nation newspaper, in raising the possibility, pointed to the fields of construction and technology as possible areas where job creation and opportunities will be coupled with Kenyan passports.
All this, according to experts, would allow for a return to investment with confidence, and for foreigners, having the possibility of a dual passport (in fact, the law would stipulate that one can keep one's foreign citizenship) would open the door to faster and more profitable business.
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