Day: June 9, 2023

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Caribbean CBI countries rank high once again in 2023 World Citizenship Report: CS Global Partners

London, June 09, 2023 (GLOBE NEWSWIRE) — Caribbean nations with Citizenship by Investment schemes ranked in the top 30 per cent of this year’s World Citizenship Report. The Report measures 188 countries across five motivators deemed as most relevant among the mass affluent – Safety and Security, Economic Opportunity, Quality of Life, Global Mobility and Financial Freedom.

This year, St Kitts and Nevis kept its position of 48th out of the 188 countries while Grenada (49), Antigua & Barbuda (50), the Commonwealth of Dominica (52) and Saint Lucia (53) followed closely behind.

The Caribbean is considered the cradle of investment immigration due to the high concentration of countries that offer CBI programmes in the region.

Caribbean nations are becoming investment hubs in the global arena, offering attractions such as safety, lucrative financial diversification options and idyllic lifestyles that make them desirable places to take up second citizenship. For example, all the Caribbean nations hosting CBI programmes are members of the Caribbean Community (CARICOM) which is committed to promoting and supporting a unified Caribbean community that is inclusive, resilient, and competitive to share in economic, social and cultural growth.

These CARICOM members have also pledged to continue to be vigilant in managing the threats to sustainable development in the region.

This includes implementing initiatives that attract foreign direct investment, ensuring that the region is not perceived as high risk by investors, lobbying against the proposed global minimum corporation tax and continuing to build relations with the OECD (Paris-based Organization for Economic Cooperation and Development) and European Union.

For example, earlier this year, heads of state from all five Caribbean nations offering citizenship by investment programmes met with several US government officials to discuss ways to enhance security and due-diligence checks which will minimise any potential risks of the various CBI programmes on offer.

Prime Ministers from St Kitts and Nevis, Antigua & Barbuda, Saint Lucia, Dominica and Grenada were all in attendance, alongside the heads of each nation’s Citizenship by Investment Units (CIU). The meeting, which was led by the Assistant Secretary of the US Department of the Treasury had some positive outcomes and all nations agreed to follow six processing principles which were suggested by the United States, including:

  • The suspension of processing for Russian and Belarussian applicants in all five nations.
  • Introduction of application interviews, either in person or via virtual interview.
  • Non-processing of applications of people who have previously been denied visas in other countries.
  • Conduct regular audits either annually or bi-annually in line with international standards.
  • Introduce additional due-diligence checks to be made through each nation’s Financial Intelligence unit.
  • Retrieval by law enforcement of all revoked passports

This year’s World Citizenship Report found that high-net-worth individuals (HNWIs) and the mass affluent are in search of greater freedoms, and in preparing for the future, they want to have more control over their freedoms.

This group of HNWIs and mass affluent are securing these freedoms by ensuring that they have a second home through residency and citizenship programmes.

For decades countries like the US, Canada, the UK, and France were attractive destinations for many who wanted to migrate. However, those popular countries are all struggling, both financially with threats of a recession and high inflation, as well as experiencing civil unrest in the form of protests and strikes. The mass affluent and HNWIs have begun to look for alternative destinations as a bolt-hole for future crises, countries that offer the freedoms that are lacking in their home nations.

Caribbean nations have been offering precisely this for decades – Dominica ranked the safest and most secure Caribbean CBI nation, and all five countries were almost equal in terms of economic opportunity.

Small island nations are ensuring their prosperity and sustainability through CBI programmes which continue to be a viable way for Caribbean nations to attract foreign direct investment into their economies which is then used for significant developmental projects.

Dominica’s construction of a geothermal plant, another tangible example of how the nation is moving away from fossil fuels in order to become a greener economy, was made possible by the revenue from CBI.

The nation of St Kitts and Nevis is following suit, also moving away from fossil fuel. St Kitts and Nevis has taken the seriousness of its CBI programme one step further by instituting innovative and industry-first regulation that will not only enhance the programme’s international reputation but will also ensure that international investors and citizens alike benefit from a safe, secure, stable and economically prosperous nation.

The inflow of funds to the private sector has had a noticeable impact on the economic activity of island nations, in many instances improving fiscal outcomes, facilitating debt repayment and spurring economic growth.

Caribbean nations continue to be politically and economically stable, with a low crime rate and rich investment opportunities – therefore solid investment options for those looking to attain freedom.

The World Citizenship Report is published by CS Global Partners, a leading investment migration advisory firm.

Attachment

Chantal Mabanga
CS Global Partners
+44 (0) 207 318 4343
Chantal.Mabanga@csglobalpartners.com

GlobeNewswire Distribution ID 8855607

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County Allocates Sh275 Million For Industrial Park Project

Kirinyaga County Government has allocated Sh275 million in the proposed 2023-2024 budget for the development of Sagana Agro-Industrial Park.

Out of this amount, Sh250 million is Kirinyaga County’s conditional matching allocation in a 50/50 arrangement with the National Government, which will also contribute Sh250 million as a grant.

This allocation is applicable to all the counties for the establishment of County Aggregation and Industrial Parks (CAIPS), whose kickoff condition is the availability of a minimum of Sh500 million.

The remaining Sh25 million is set aside for pre-feasibility studies, National Environment Management Authority (NEMA) approvals, Sustainable Environmental and Social Assessment (SESA) reports, feasibility studies, marketing, branding, and the development of basic infrastructure in the park.

Governor Anne Waiguru says for the county government to access the grants, they are further required to allocate at least 100 acres of land designated for the industrial parks.

Counties are also required to identify at least five value chain products, provide proof of marketing of the value chain products, and have necessary amenities like water, a road network, security, and electricity connection.

Sagana Industrial Park will be the first climate-smart agroindustrial city in the central region, promoting agroprocessing and manufacturing, and will be a source of employment for many of the county’s residents.

Governor Waiguru said that her administration has been supporting farmers to increase agricultural production and organising them to form groups and cooperatives through which they will aggregate their produce for uptake by processors at the park.

The governor pointed out that some of the cooperatives have already expressed their intention to set up their own processing factories at the industrial park, a move that she termed as smart and strategic.

The Sagana County Aggregation and Industrial Park and Export Processing Zone (EPZ) will be established on 250 acres of land located in close proximity to the Sagana Railway Station along the Kenol-Sagana-Marua dual carriageway.

Source: Kenya News Agency

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Nakuru Digitizes Alcohol Licensing

Nakuru County Government will leverage on the digitization of its alcohol and drink control sector to help boost revenue collections and curb the escalation of alcohol abuse.

The Director for Alcohol and Drinks Control, Mr. Xavier Lugaga, said digitizing the system will be a game changer from paper-based licensing application, processing, and renewal.

While meeting with members of the county Alcoholic Drinks Regulations Review Committee today, he said a recent survey, which was carried out by the Bar Owners Association, revealed that 900 bars and restaurants operating in the county are not licensed.

Lugaga said this has led to unfair practices among the players and the loss of millions of shillings in revenue for the county, adding that digitization would curb such partial practices and ensure that every bar and restaurant pays a levy.

The director also said that the county was working closely with the national government to reduce the menace of alcoholism, the sale of illicit brew, and drug abuse.

Recently, Deputy President Rigathi Gachagua held a meeting in the city and declared total war on alcoholism, which threatens to wipe out the youthful generation in the county.

Last year, ten people lost their lives due to the consumption of illicit brews at the Bahati sub-county in the county, and since then there has been a number of crackdowns on such brews.

A youth leader in the county, John Kinyua said drunkenness was now a hazard and risk for the younger generation. He appealed to the county government to construct rehabilitation centers for those already affected and increase sports activities to keep the unemployed busy.

Source: Kenya News Agency

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Drug Administration Drive To Curb Neglected Tropical Diseases

Machakos Deputy Governor Francis Mwangangi has launched a mass drug administration drive to curb the spread of neglected tropical diseases in Machakos by breaking the transmission cycle.

Mwangangi, who was speaking at the Kenyatta stadium in Machakos town, said that the exercise that will also be carried out in the counties of Meru, Kitui, Makueni, and Tharaka Nithi is supported by the Kenyan Government in partnership with the World Health Organization (WHO), and it targets Bilharzia and soil-transmitted worms.

He added that the drug administration exercise will be spearheaded by the County Community Health Promoters (CHP) at the household level from Thursday, June 8, 2023, to Sunday, June 11, and will be free of charge.

Mwangangi hailed the CHP for the good job they are doing at the grassroots level by interacting on a one-on-one basis with the locals and encouraging them to visit the nearest health facility for checkups.

The Deputy Governor sympathised with the CHP staff, who have not been receiving their stipends for a long period of time, and assured them that they will be reimbursed for all the money that they required from the county.

‘We will follow up, and in case any single cent gets lost anywhere, we will recover it and give it to the people who were supposed to receive it,’ added Mwangangi.

Mwangangi further noted that the National Government has promised to pay the CHP 50% of their stipend and the County to pay the other half, and Machakos County is in agreement with the directive and has already budgeted for the amount.

On his part, Machakos Chief Executive Member for Health Daniel Yumbya said that neglected tropical diseases (NTD) are a top priority in WHO programmes globally and urged Machakos residents to take advantage of the free treatment of intestinal worms and Bilharzia.

Yumbya added that the exercise, which is funded by WHO and the national government, targets to eliminate bilharzia and intestinal worms among six million adults and children in Machakos, Meru, Kitui, Makueni, and Tharaka nithi.

Yumbya appealed to Machakos people to practice high hygiene standards as a way of stopping the disease by washing their hands frequently and also washing all edible fruits and vegetables before eating or cooking them.

‘Bilharzia is caused by dirty water, and intestinal worms are caused by dirty vegetables, which are harvested from the soil and contain some viruses, so it’s important to thoroughly wash them before use,’ added Yumbya.

The WHO representative, Dr Mona Almudhwahi, said that they are delighted to support the implementation of interventions for neglected tropical diseases in the Eastern Region.

Dr Mona said the launch marks a key milestone where the WHO road map targets the elimination of the two diseases as a public health problem by 2030.

She pointed out that some of the Sustainable Development Goals (SDG), such as quality education, clean water, and sanitation, cannot be implemented if they do not tackle neglected tropical diseases.

Dr Mona said that for the treatment to be effective, they have to reach at least 75% of the people in the country, but so far they have reached 41%.

Source: Kenya News Agency

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KPA Plants 2,000 Trees At Degraded Sites In Shimoni

The Kenya Ports Authority (KPA) planted 2000 trees in degraded sites where the Sh2.1 billion Shimoni Fishing Port is being constructed in a bid to conserve the environment.

KPA Chairman Benjamin Tayari said the move is aimed at boosting the government’s efforts to plant 15 billion trees by 2032 to mitigate climate change.

Three degraded sites were identified by the local communities. Some 1,900 trees will be planted at the highly degraded Bahati landing site in Mwazaro Village. Shimoni and Kichaka-Mkwajuni Primary Schools will each have 50 baobab trees.

The Authority, the Chairman said, has plans to adopt other highly degraded sites by planting more mangrove trees at Wanga landing sites in Anziwani Village, Changai, and Kiwambale landing sites, respectively.

‘These sites have open patches caused by ecological imbalances due to human activities and require continuous tree replenishment,’ said the chairman, adding that they are keen on planting and saving trees because they play a vital role in the ecosystem.

The Chairman further revealed that the Authority has a full-fledged division handling environmental matters in all port facilities, guided by the KPA Green Port Policy.

The aim of the Green Port Policy, he said, is to make the Port of Mombasa a leading world port in the sound stewardship and management of the environment affected by port operations and to continuously improve the environment for both the community and staff.

The Authority, Chairman Tayari said, uses new technology and recyclable materials for all new construction and development to reduce its carbon footprint.

Source: Kenya News Agency