People & Lifestyle

How Ghanaians can use investment migration to improve global access and secure the future health and wealth of their families

Published

3 months ago

January 25, 2024

Diversifying your portfolio is common practice when managing assets. For high-net-worth individuals looking to futureproof their portfolio, investing in a range of regions and asset classes can spread risk and create new opportunities. But increasingly, wealth planning and legacy management is widening to include new strategies, such as investment migration, which can protect against future risk, and create new value and opportunity for the entire family.

In an increasingly unpredictable world, affluent individuals are actively diversifying their geographical domicile options and expanding their personal access rights to a range of different jurisdictions through residence and citizenship by investment.

According to the Henley Passport Index, an individual with a Ghanaian passport only has visa-free or visa-on-arrival access to approximately 60 out of 226 destinations worldwide, which together account for about 3.5% of the global economy.

Ghana is Africa’s 9^th wealthiest country, according to the Africa Wealth Report 2023, with millionaire growth of 24% from 2012–2022. Ghana has a population of 2,600 high-net-worth individuals (that is, persons with investable wealth of USD 1 million or more). Of this group, 100 individuals emigrated from the country last year, as shown in the Henley Private Wealth Migration Dashboard. 100 more were forecast to leave Ghana in 2023.

Ghanaian investors looking to achieve greater global reach through residence and citizenship programs can improve their economic mobility and opportunity, as well as provide greater access for themselves and their families to benefits such as internationally recognized educational institutions and world class healthcare.

A more strategic generational wealth transfer

Globally, an estimated USD 72 trillion in wealth will be transferred from the so-called ‘baby boomers’ to their Generation X and millennial children over the next 20 years. With this in mind, many high-net-worth individuals are planning more strategic generational wealth transfers.

While savvy Ghanaian entrepreneurs and investors recognize that having a diversified portfolio is key to wealth management, a diversified portfolio of residences and/or citizenships can enable greater global access, and expand the opportunities and resources available to their families for generations to come.

Visa rules can and do change, as do governments, but citizenship, when legitimately acquired through an established investment migration program, is for life and can usually be passed down to future generations.

A growing number of countries across the globe host residence and citizenship by investment programs in some of the most sought-after locations in terms of business environment, quality of life, and access to top-tier tertiary education institutions and private healthcare. These programs offer a suite of attractive investment options, from government donations starting at USD 100,000 to real estate acquisition, to capital transfers, to enterprise start-ups — each providing a pathway to residence or citizenship in exchange for a significant financial contribution.

Shape your children’s future with premium global education

A good education is one of the best gifts you can give your children. It can set them up for future success and help them reach their full potential. Ghanaian families who want to ensure that the next generation has access to the best education can do so by securing residence in countries such as the UK, the USA, Canada, Australia, New Zealand, and numerous European countries that are home to the world’s best educational institutions. In so doing, they will open doors for their children at the world’s most sought-after institutions and prepare them to become global citizens.

Henley & Partners’ education division provides clients with all the support and assistance they need to access the best schools and universities in their countries of choice.

Prioritize longevity and quality of life

Medical innovation is advancing rapidly, resulting in longer lifespans than ever before. As a result of this many investors want to ensure that when required, they have access to the top-tier level of healthcare for themselves and their families. High-net-worth individuals are keen to benefit from the best possible medical facilities and treatments available, looking to improve not only the length but the quality of their life. As a result countries such as Australia, New Zealand, and Switzerland, which all deliver some of the world’s best healthcare, are seeing a rise in demand for their residence programs.

Balance risk and opportunity

The world is going through a paradigm shift and for many safety, security, and future proofing is at the forefront of wealth planning. This year, we anticipate that there will be over 122,000 millionaires on the move, the highest number on record, many of whom are likely to be prompted by regional instability, economic opportunity, and creating a lasting legacy for their family.

Investment migration programs are fundamentally designed to balance risk and opportunity: a portfolio of multiple residences and citizenships generates unique short-term value and long-term yield, enabling investors to transcend the constraints imposed on them by their countries of origin, to improve the resilience of their wealth and estate planning strategies, and to ensure physical and financial longevity for generations to come. Having just a plan B is no longer enough to secure your legacy — you need a plan B, C, and even D.

To find out more about these or any other investment migration programs, or our education services, please reach out to Henley & Partners or e-mail ghana@henleyglobal.com. As the pioneering firm and global leader in residence and citizenship by investment and with over 45 offices worldwide, we are best placed to successfully serve international clients and partners, advising and supporting you every step of the way.

By Grace ARTHUR: the writer is a Consultant at Henley & Partners. She can be reached via Grace.Arthur@Henleyglobal.com and 233 2022220496

People & Lifestyle

Ghana Welcomes Starlink: Revolutionizing Connectivity

Published

11 hours ago

April 27, 2024

Ameyaw Debrah

The National Communications Authority (NCA) in Ghana has recently approved the satellite broadband application of Starlink, a service by Elon Musk’s SpaceX, making Ghana the eighth African country to welcome this revolutionary internet service.

This development is set to challenge existing internet providers in the region, offering multi-gigabit speeds and lower latency through satellite technology.

Ghana to become eighth African country to approve Elon Musk's Starlink.
It is currently available in seven African countries: Mozambique, Eswatini, Zambia, Malawi, Kenya, Rwanda, and Nigeria. pic.twitter.com/OpJ0dI1WsW
— Clovis T (@clovist237) April 27, 2024

Users have expressed satisfaction with Starlink’s service, citing significant improvements in speed and reliability compared to traditional providers. The service is currently available in seven African countries: Mozambique, Eswatini, Zambia, Malawi, Kenya, Rwanda, and Nigeria.

Recently got Starlink, and so far better than any residential internet provider I’ve used in this country tbh
— remi (@alo_aderemi) April 27, 2024

This expansion is expected to foster healthy competition and better offers, breaking the monopoly enjoyed by some internet providers. As Starlink continues to expand, it promises to revolutionize network access and connectivity in Africa, providing a much-needed boost to internet access across the continent.

People & Lifestyle

#AOTY2023: King Promise vs. Stonebwoy

Published

11 hours ago

April 27, 2024

Ameyaw Debrah

The debate over King Promise’s candidacy for Artist of the Year has sparked a lively discussion among social media users, with arguments both for and against his potential win.

Those saying King Promise should rather win song of the year and not Artiste of the year cuz Patapaa too had one big song, did Patapaa do all this? Greg is winning this, forget the Stonebwoy shouts pic.twitter.com/ICfLI1nBaf
— Twilight (@the_marcoli_boy) April 27, 2024

Supporters highlight his sold-out shows in Asia and the impact of his music, while critics point to other artists like Stonebwoy and Black Sherif, questioning the fairness of the awards process.

You are telling me King Promise isn't Artiste of the Year? let's be serious 😂pic.twitter.com/k8KDiilWsP
— Twilight (@the_marcoli_boy) April 26, 2024
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The discussion showcases the diverse opinions and passion surrounding the music industry in Ghana and beyond, with users engaging in playful banter and humorous remarks while presenting their arguments.

Ur artist of the year our artist of the year my artist of the year their artist of the year @stonebwoy #StonebwoyForAOTY 🔥🔥🔥🔥all this history was made just last year December @GHMusicAwards pic.twitter.com/R0biHkhdEx
— Hernandez Gh✊🏾🔥 (@HernandezGh35) April 27, 2024

People & Lifestyle

‘Dubai in Accra’ set to thrill Ghanaians on Sunday, April 28

Published

1 day ago

April 27, 2024

VJ Scaro

In the heart of Accra, excitement buzzes as the city eagerly anticipates the grand spectacle known as “Dubai in Accra,” set to take place this Sunday 28th April 2024 at the prestigious Stanbic Heights, Icon House Airport. (more…)

People & Lifestyle

Celebrating 25 Years: Otumfuo Osei Tutu II’s Reign

Published

2 days ago

April 26, 2024

Ameyaw Debrah

Celebrating 25 Years: Otumfuo Osei Tutu II's Reign

Today marks the 25th anniversary of Otumfuo Osei Tutu II’s reign as the Asantehene, the King of the Ashanti Kingdom.

Otumfuo Osei Tutu II: Celebrating 25 Years of Local and Global Impact.
Showing on @GTV_Ghana and streaming on all our social media platforms on Sunday, April 28, at 8:30PM.#Asanteman #OurCultureOurHeritage pic.twitter.com/g3u0Ql5q6i
— GTV Ghana (@GTV_Ghana) April 26, 2024

The celebrations, which began with spectacular fireworks witnessed by Otumfuo himself, will culminate in the Silver Jubilee anniversary on Akwasidaekese on June 12 at Dwabrem, Manhyia Palace.

This milestone is a testament to Otumfuo’s impactful leadership, dedication to the Asante people, and contributions to education and research as the Chancellor of KNUST.

❤️ @AkwaboahMusic meets The King of Ashanti Kingdom Otumfoc Osei Tutu II. pic.twitter.com/wdvlulV7Ez
— FELICIA OSEI (@Osei_Feliciaa) April 26, 2024

The event is being celebrated across Ghana, with well-wishes and congratulations pouring in from various quarters, highlighting the significance of this occasion for Asanteman and Ghana as a whole.

People & Lifestyle

Mr. Beast in Ghana: Surprising Visit Sparks Excitement

Published

2 days ago

April 26, 2024

Ameyaw Debrah

World-renowned YouTuber Mr. Beast, known for his philanthropic acts, has been spotted in Ghana, specifically in Accra and Tema, sparking excitement among locals.

Wow, Mr Beast is in Ghana! Look at how boys are gathering to take pictures with him. pic.twitter.com/46gawXYWnJ
— Big Kay🇬🇭 (@OfficialBigkay) April 26, 2024

His visit has led to discussions about his choice of Ghana over other African countries, with some suggesting that the country’s popularity as a tourist destination played a role.

MrBeast is in Ghana and no one is talking about it? Make I step out more times I go get new phone or car saf pic.twitter.com/AUP9CSoDoV
— Kofi Ntim (@NtimBarima) April 26, 2024
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Mr. Beast’s presence in Ghana is part of his global outreach, as he recently gifted a Ghanaian $25,000 as part of his X (Twitter) giveaway.

The YouTuber has been seen exploring the country and interacting with locals, with many expressing their desire to meet him and participate in his charitable endeavors.

People & Lifestyle

Stephen Appiah to contest John Dumelo and Lydia Alhassan in MP race for Ayawaso West Wuogon

Published

2 days ago

April 26, 2024

Ameyaw Debrah

Stephen Appiah to contest John Dumelo and Lydia Alhassan

Former Black Stars captain Stephen Appiah is set to enter the political fray by rubbing shoulders with notable personalities in the upcoming general elections.

The former Juventus midfielder is believed to be lacing his boots to face the likes of John Dumelo and the incumbent member of Parliament for the Ayawaso West Wuogon Constituency Lydia Alhassan.

While Dumelo and Alhassan represents the NDC and NPP respectively, Appiah is expected feature in the elections as an independent candidate.

This was revealed by the Spokesperson of the Ayew family Fiifi Tackie via X on Friday afternoon.

“Stephen Appiah to contest Ayawaso West Wuogon constituency as an independent Parliamentary candidate,” he wrote.

If Stephen Appiah affirms the reported news, he will be following in the footsteps of other renowned figures in Ghana football who have indulged in politics recently.

Earlier this year, all-time top scorer of the Black Stars Asamoah Gyan was appointed as the sub-committee chair of Youth and Sports in the campaign committee of Dr Bawumia, the flagbearer of the ruling New Patriotic Party.

In acceptance of the appointment, Gyan emphasised the need to share hos ideas garnered through experience in the game.

Anas took $100,000 to stop documentary release – Kwesi Nyantakyi
‘I have enough experience to contribute to sports – Asamoah Gyan reacts to political appointment
“I always ask myself, how do we create change if we don’t want to change? How do we spectate without being on the bench, and how do we score without being on the field?… All I know and will ever know, all I love and will ever love is SPORTS.” he stated.

Another figure in Ghana football who recently announced his intention to engage in partisan politics is Kwesi Nyantakyi, former Ghana Football Association (GFA).

The former football administrator showed up as one of the candidates to contest in the NPP primaries for the Ejisu constituency following the demise of incumbent John Kumah.

However, it didn’t pan out well for the former Wa All Stars owner as he lost disappointingly.

He garnered a paltry 35 votes after close to 1,081 delegates had cast their votes in the parliamentary primary of the New Patriotic Party (NPP) held in the Ejisu Constituency on April 13.