2025 – The Year of African Citizenship by Investment

Is 2025 the year of African citizenship by investment? 

With two new African CBI programmes launched this year in Sierra Leone and São Tomé e Príncipe, and a third announced for Botswana, Africa is stepping up to meet global demand. 

In this article, we look at the rise of citizenship by investment in Africa and how African countries are finding new, unexpected ways to innovate within a competitive marketplace. 

We start with a look at the newly announced programme in Botswana, before then examining Egypt’s more established offering, plus 2025’s new programmes in Sierra Leone and São Tomé e Príncipe.   

The Growth Of African CBI Programmes

Three major shifts are affecting our industry right now.

Popular citizenship by investment programmes are either closing down, raising prices, tightening rules, or doing all three in tandem, with European programmes particularly affected. 

Meanwhile, the current climate of global tensions, government overreach and economic uncertainty means demand for such programmes continues to rise. 

As a result, new countries are stepping up to meet the demand, bringing some much-needed innovation and diversity to the industry, with one region in particular eager to get ahead of the pack. 

With European opportunities dwindling, Africa wants the world to know that it’s open for business. 

At the beginning of 2025, Egypt had Africa’s only citizenship by investment programme. 

By October of 2025, two more African CBI programmes went live in Sierra Leone and São Tomé e Príncipe.

Not long after, Botswana announced their own citizenship by investment programme, bringing the total number of African citizenship by investment programmes to four. 

In other words, having started the year with one, Africa will close out 2025 with the second-highest number of citizenship by investment programmes in the world. 

The Caribbean region still retains the top spot with five active CBI programmes, but who knows how things will look a year from now? 

The rise in African CBI programmes is one of the most surprising developments in 2025 and is bound to shake up the industry. So let’s examine the current offerings and the surprising benefits these African passports provide, starting with Africa’s newest CBI programme, Botswana. 

Botswana Citizenship By Investment

At the time of writing, Botswana has the newest citizenship by investment programme and, once launched, it will also become the cheapest. 

The southern African nation announced the new programme in October 2025, bringing the total number of African citizenship by investment programmes to four. 

Botswana is a landlocked country in the southern tip of Africa, with Zambia and Angola to the north, South Africa to the south, Namibia to the west and Zimbabwe to the east.  

While its population and size are average by African standards, it’s still quite a large country, comparable in size to France. 

Botswana is famous for one thing, diamonds. In market value terms (rather than raw volume), it’s the largest producer of diamonds in the world.  

So why has Botswana decided to launch a citizenship by investment programme? 

As with similar programmes in the past, the answer is economic diversification. They know that, in an uncertain world, being over-reliant on one industry can be problematic. 

Currently, over 20% of the world’s jewellery sales consist of lab-grown diamonds, mainly sourced from China, representing an existential threat to Botswana’s economy. 

Citizenship by investment is a great way to fill the state coffers during uncertain times, providing additional funds to diversify further. 

Given the success Caribbean countries enjoyed since launching their programmes, and with other African nations launching theirs, Botswana has opted to launch their own programme at a price that’s certain to get plenty of attention. 

Botswana CBI – Cost

As this is a newly announced programme, we don’t have complete details as of yet. 

What we do know is that, with prices starting at $75,000, Botswana’s CBI programme will make it the cheapest way to obtain a second passport. 

The programme is set to launch at the beginning of 2026 to a limited number of applicants, lending it a sense of exclusivity. 

Botswana CBI – Benefits

Botswana’s citizenship by investment programme promises passport stability at a competitive price. 

The $75k price tag doesn’t just undercut its competitors in the region, it also represents serious potential value from a nomadic perspective. 

While the true viability of Botswana’s citizenship by investment programme remains to be seen, what’s not in doubt is the strength and stability of the country’s passport. 

A passport from Botswana currently grants visa-free access to over 80 countries, including nomad-friendly territorial tax jurisdictions such as Panama, Georgia, Malaysia, the Philippines and Singapore.

So perhaps the strategy is to create demand for the programme first, then raise prices by making the passport more valuable, much like recent moves by Vanuatu. 

Egyptian Citizenship By Investment

So, now that we’ve looked at the newest, let’s look at Africa’s oldest citizenship by investment programme, Egypt. 

Egypt is Africa’s second-largest economy, the third-largest by population and twelfth by size. 

Unlike Botswana, it doesn’t need to worry about diversifying its economy, with an unassailable status as a hub of global trade that’s as old and solid as the pyramids. 

As with most African countries, economic volatility is persistent, though as Egypt continues to grow, opportunities grow along with it.

This makes Egyptian citizenship especially valuable to those looking to invest in Africa and/or the MENA region. 

Egyptian CBI – Cost

The cost of Egyptian Citizenship by Investment is higher than other African offerings, in line with the country’s size and economic status.

Four different options available, starting at $250,000 USD for a non-refundable donation. This is the cheapest and generally swiftest option, though it may not appeal to everyone. 

Seasoned investors may prefer to invest a minimum of $300,000 in Egypt’s dynamic real estate sector, on condition that they hold that property for at least five years. 

Alternatively, they can invest $350,000 in a new or existing business in Egypt, with an additional $100,000 non-refundable fee. 

Finally, there is the bank deposit option, whereby you deposit $500,000 in the Egyptian state bank for a period of three years, after which time the amount is refunded to you in local currency. 

In each case, government fees of $10,000 also apply per application. 

Egyptian CBI – Benefits

Egyptian citizenship by investment is considerably more expensive than its newer African counterparts. 

It’s primarily of value to investors looking to gain a secure foothold for conducting business in Africa and the Middle East.  

This dual citizenship option can also be extended to family members during the application process. And, since Egyptian citizenship is also inheritable, subsequent generations of your family can automatically become citizens of the second-largest economy on the African continent. 

Sierra Leone Citizenship By Investment

Sierra Leone is a small West African nation on the Atlantic coast. 

The announcement of its citizenship by investment programme in 2025 created a stir due to Sierra Leone’s membership of ECOWAS. 

ECOWAS is the Economic Community of West African States, a 12-nation community of regional economies including Côte d’Ivoire (Ivory Coast), Senegal, Ghana and Africa’s fourth largest economy, Nigeria. 

By possessing an ECOWAS passport, you gain much smoother access to Africa, allowing you to travel freely and do business easily in many of the continent’s largest economies. 

The other interesting development with Sierra Leone’s passport is that it also offers a significant discount to applicants with African heritage. 

Sierra Leone CBI – Cost

Sierra Leone’s citizenship by investment programme costs $140,000 for a one-time donation. 

The key difference between Sierra Leone’s programme and others which have preceded it, however, is that it also offers a $40,000 discount for those who can prove African heritage. 

While there are clear cultural and historical reasons why Sierra Leone is the first country to offer this, there are clear economic benefits too. 

It provides an incentive for members of the sizeable African diaspora, who have a better chance at integrating in the country, to repatriate to Sierra Leone specifically, bringing their wealth and expertise with them. 

Combining CBI with a citizenship by descent element is a new innovation, and we are curious to see whether it will catch on in the future. 

We may even start to see similar programmes based on cultural or linguistic considerations, for example, a Latin American country offering discounted CBI to native Spanish speakers. 

Sierra Leone CBI – Benefits

Sierra Leone’s CBI programme offers an ECOWAS passport at a low cost, plus added discounts to those of African heritage. 

The programme also has one extra benefit with membership of the Gold for Gold Club (or GFG Club for short). 

The GFG Club offers travel and concierge services to members, plus a 2% discount on purchases of Sierra Leonean gold, which, given the current demand for gold, is yet another smart inducement for foreign investors. 

São Tomé and Príncipe Citizenship By Investment

São Tomé and Príncipe’s citizenship by investment programme is designed for those who want swift and affordable CBI with zero red tape. 

It offers citizenship by investment starting at $90,000, with no interviews, no residency requirements and a timeline of just six weeks. 

“Sounds great”, you’re thinking, “but where is São Tomé and Príncipe?”

São Tomé and Príncipe is a tiny island nation off the coast of equatorial West Africa, in the Atlantic Ocean’s Gulf of Guinea. 

In terms of size and population, it’s the second smallest African country, after the Seychelles.

The country was once a Portuguese colony before gaining its independence in 1975. This is an important point as it’s what helps differentiate São Tomé CBI from other offerings. 

As a member of the CPLP (Community of Portuguese Language Countries), you get enhanced mobility within Portuguese-speaking countries, including Angola, Brazil and Portugal itself. 

Plus, if Portuguese citizenship is your ultimate goal, there may be additional strategic advantage to having a São Tomé and Príncipe passport, which we will discuss in a moment, but first, let’s look at the price. 

São Tomé and Príncipe CBI – Cost

São Tomé and Príncipe currently offers the cheapest and fastest citizenship by investment programme on the planet. (Until Botswana launches its CBI programme in 2026.)

The base price for a São Tomé and Príncipe passport is $90,000 USD for one person, or $95,000 for a family of four. 

Additional dependents can be added for $5,000 per person. 

Be advised that there is also an additional submission fee of $5,000, which also needs to be factored in to your calculations.

São Tomé and Príncipe CBI – Benefits 

With visa-free access to 71 countries, São Tomé and Príncipe’s passport doesn’t look particularly enticing on the surface. 

Once again, it all depends on the specifics of your mobility strategy. 

São Tomé and Príncipe offers enhanced mobility within African and Latin American countries, as well as to territorial tax countries in Asia such as Singapore, the Philippines and Malaysia. 

It’s also worth noting that, as a tiny island nation off the coast of West Africa, São Tomé and Príncipe can’t afford to play favourites, so its citizenship by investment programme is open to citizens of all nations, with the sole exception of North Korea. 

As it’s a new programme, we’re taking a wait-and-see approach while we learn more about the specifics of the process. 

One positive is that their CBI unit is based here in Dubai, which makes fund transfers easier and adds an overall degree of transparency to the programme. 

The prospect of such a cheap second passport in a matter of weeks, rather than months, is certain to appeal to many, though we think its true potential value lies elsewhere. 

As a member of the CPLP, a São Tomé and Príncipe passport also grants easier access to Portuguese-speaking countries such as Angola, Mozambique, Cape Verde and Brazil. 

And then there’s Portugal itself.

Portugal Citizenship Hack

The government in Portugal is currently looking to update their country’s naturalisation rules, doubling the time it takes to become a citizen from five to ten years. 

The exception, however, would be nationals from Portuguese-speaking countries, who would then have a proposed naturalisation period of seven years, instead of ten. 

Right now, we’re holding tight to see whether this change to Portugal’s naturalisation policy does, indeed, come to pass so we can advise our clients accordingly. 

If it does, a São Tomé and Príncipe passport could take three years off your waiting time but even then, you will still need to pass the language test. So, regardless of what the ruling will be, if you’re planning on Portugal, now is the time to start learning the lingo. 

At A Glance: 

African Citizenship By Investment Programmes

• With an entry price of $250,000 USD, Egyptian citizenship by investment is Africa’s most expensive CBI programme, but it may still prove valuable to those looking to invest and gain a foothold in the lucrative MENA region. 
• Sierra Leone’s pioneering programme offers an ECOWAS passport for a $140,000 USD donation with a $40,000 discount for those who can prove African heritage. 
• São Tomé e Príncipe currently offers the cheapest and quickest second passport option, with the added benefit of enhanced access to CPLP (Portuguese-speaking) countries. 
• Announced in late 2025 and launching in 2026, Botswana’s citizenship by investment programme will become the  world’s cheapest, costing just $75,000 USD. 

African CBI: Is This Just The Beginning?

While Europe shuts up shop, Africa is opening up for business, launching innovative citizenship by investment programmes with unique value propositions. 

The low cost of these new programmes is certain to provoke debate. 

Is this a race to the bottom? Perhaps, though, investors are unlikely to complain. 

At the same time, such discussions miss the finer details and, with them, the true value such passports can provide. 

Sierra Leone leverages its ECOWAS membership while adding discounted rates for investors of African heritage. 

São Tomé e Príncipe, meanwhile, positions itself as the cheapest and fastest CBI programme with additional travel benefits to other Portuguese-speaking countries.

This programme will be undercut when Botswana launches its programme in 2026.

And, if these programmes prove successful, you can be certain that other African nations will follow suit, each looking for new ways to compete and innovate. 

With Africa, there’s always plenty of opportunity, but also significant volatility, both economic and in some cases, political. 

This should not put you off investing and doing business in Africa, however. 

On the contrary, it merely highlights the importance of getting advice from professional investors with experience in the region. 

As a truly global company, Millionaire Migrant has its own experts in the region, as well as trusted partners who can advise on a range of topics from second passports to real estate opportunities. 

Contact our team today to learn more. 

African Citizenship By Investment FAQs

What is Citizenship by Investment?

Citizenship by investment is a straightforward method for obtaining citizenship in another country. As its name suggests, it requires the applicant to make an approved government investment, such as a donation, a real estate investment, or through the formation of a company, to obtain citizenship within that country.

Countries that offer citizenship by investment generally do so to attract foreign investment and help diversify their economy. 

Which African Countries Offer Citizenship by Investment? 

The current African citizenship by investment countries are Egypt, Sierra Leone and São Tomé and Príncipe, with Botswana set to launch its own programme early in 2026. 

Which Citizenship by Investment Programmes Launched in 2025?

2025 saw the launch of new citizenship by investment programmes in Nauru, Sierra Leone and São Tomé and Príncipe.

What Are Some Of The Cheapest Passports Right Now?

The cheapest second passport options currently includes Nauru, at $105,000 USD per applicant, Sierra Leone, at $140,000, and a São Tomé and Príncipe passport for $90,000.

Starting in 2026, the diamond-rich African nation of Botswana will launch its own citizenship by investment programme with a base cost of $75,000.

What is ECOWAS?

ECOWAS stands for the Economic Community of West African States, an organisation which celebrated its 50th anniversary in 2025. 

Currently, there are 12 member states in ECOWAS:

• Benin
• Cabo Verde
• Côte d’Ivoire
• The Gambia
• Ghana
• Guinea
• Guinea Bissau
• Liberia
• Nigeria
• Senegal
• Sierra Leone
• Togo

The group includes some of the largest economies in Africa. 

What Are CPLP Countries?

The CPLP is an organisation of Lusophone (Portuguese-speaking) countries. 

It stands for the Comunidade dos Países de Língua Portuguesa, or the Community of Portuguese Language Countries. 

The nine current members of the CPLP are:

• Portugal
• Brazil
• Angola
• Cape Verde
• East Timor 
• Equatorial Guinea
• Guinea-Bissau
• Mozambique
• São Tomé and Príncipe

The Portuguese language is spoken by over 250 million people worldwide. 

Which Citizenship By Investment Programme Is The Fastest?

With no interviews, no residency requirements and turnaround times of around six weeks, São Tomé and Príncipe is the fastest programme currently, making it one of the easiest second citizenship options overall. 

Other fast second passport countries include Caribbean countries like Antigua and Barbuda, Dominica, and Grenada, each with an estimated wait time of three to four months, or the tiny Pacific island nation of Vanuatu, with an estimate time of between one and four months.

Which Country Has The Cheapest Citizenship By Investment? 

At the time of writing, São Tomé and Príncipe’s citizenship by investment programme is the cheapest, with prices starting at $90,000 USD. 

This programme is set to be undercut by Botswana’s new citizenship by investment programme when it launches in 2026 at a cost of $75,000.

What is Botswana Famous For? 

Botswana is famous for its diamonds and is currently the world’s largest producer of natural diamonds by market value. 

While Russia produces more diamonds in terms of volume, the economic situation there precludes it from exporting to key markets, including the US, which is currently the world’s largest consumer of diamonds globally.