In a groundbreaking move set to transform the tourism landscape of Southern Africa, five countries—Angola, Botswana, Namibia, Zambia, and Zimbabwe—have agreed to expand their Schengen-style single visa system.

The United Arab Emirates (UAE) has witnessed a significant surge in the popularity of its Golden Visa schemes, with approvals tripling from 2021 to 2023.

The Corporate Affairs Commission (CAC) has released new guidelines to support Deposit Money Banks in their ongoing recapitalization efforts.
In March 2024, the Central Bank of Nigeria (CBN) directed all banks to increase their capital base to enhance productivity. The CBN mandated that commercial banks with international authorization must raise their capital base to ₦500 billion, while national banks must reach ₦200 billion threshold, and those with regional authorization are expected to achieve a ₦50 billion capital floor. Banks have started issuing public offers and rights issues to raise the money and meet the two-year target.

Mozambique’s government has approved a resolution on its tariff offer for implementing the African Continental Free Trade Area (AfCFTA) agreement and a national strategy for its execution. This decision allows Mozambique to access the AfCFTA Adjustment Fund designed to help member states mitigate any negative impacts from the agreement’s implementation.

On July 30, 2024, the Federal High Court (FHC) ruled that section 18(2) of the Companies and Allied Matters Act 2020 (CAMA 2020), which allows private companies to have a single shareholder, applies to all private companies, including those incorporated under the repealed CAMA 1990.

In a striking paradox, Africa’s richest individual, Aliko Dangote, would need 35 visas to travel across the continent—a testament to the restrictive borders that continue to hinder African unity and economic growth. Despite Africa’s urgent call for investment and collaboration, the continent’s own citizens face significant challenges in moving freely between countries. The 2023 Africa Visa Openness Report…

In a rapidly evolving geopolitical landscape, investment migration has emerged as a critical strategy for high-net-worth individuals seeking to safeguard their futures. Recent developments in Europe, including discussions about reinstating mandatory conscription in several countries, have sparked a renewed interest in citizenship and residence by investment programs.

Singapore has regained its position as the world’s most powerful passport, according to the latest Henley Passport Index. With visa-free access to 195 out of 227 global destinations, Singapore sets a new record score.

France, Germany, Italy, Japan, and Spain…

Warren Buffett has revised his will, deciding that his wealth will be managed by a new charitable trust overseen by his three children after his death, rather than continuing donations to the Bill & Melinda Gates Foundation.

Please be informed of the crucial update regarding the Antigua & Barbuda Citizenship by Investment Program. The deadline for submitting applications under the current investment regulations has been extended by 30 days, now closing on 30 July 2024. This extension provides a limited window of opportunity to apply before the minimum investment thresholds increase.