- Kenya Investment Authority is developing a residency-by-investment programme targeting foreign investors who commit substantial capital
- The proposal revives a plan first considered in 2019 that was never implemented, and would require new legislation to take effect
- Kenya’s startup ecosystem attracted $984 million in funding in 2025, the highest on the continent
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Kenya is developing a golden visa scheme that would grant long-term residency to foreign investors, including Nigerians, as the country seeks to consolidate its status as East Africa’s premier investment destination.
The Kenya Investment Authority, known as Invest Kenya, is drafting a residency-by-investment programme that would offer permanent residency to individuals who commit significant capital and generate employment in the country.
The agency’s chief executive, John Mwendwa, confirmed the plan in an interview with Business Daily on Thursday, July 16, 2026.
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“We are exploring residency by investment. Directionally, that’s the way investors would like it.”
What the proposed programme would offer
Invest Kenya has not yet settled on investment thresholds or the sectors that would qualify.
Mwendwa acknowledged that any programme would need legislative backing because immigration policy falls outside the authority’s existing mandate.
“We have to have parameters that make commercial sense,” he said.
The initiative revives a proposal that was first floated in 2019 but never moved forward.
Under the current framework, foreign investors must obtain a Class G Investor Permit, which requires a minimum investment of $100,000 in an active Kenyan enterprise, before they can begin the multi-year process of applying for citizenship.
A permanent residency route would give investors a faster, more predictable path to long-term operations without the burden of repeated work permit renewals.
Why Kenya is competing for mobile investors
The timing reflects a broader global shift in how governments attract capital.
Countries are increasingly pairing tax incentives with residency rights to retain investors whose businesses are expected to remain for decades.
South Africa has offered a permanent residency route for investors of at least R12 million since 2002, while Mauritius reduced its minimum investment threshold from $500,000 to $375,000 in 2020 to attract post-pandemic capital.
Nairobi already hosts regional offices for several international venture capital firms, among them Antler, Capria Ventures, Delta40 and Enza Capital.
Venture capital in particular depends on physical presence, with fund managers expected to serve on company boards, recruit executives and remain closely involved with portfolio businesses over many years.
Kenyan startups raised $984 million in 2025, more than any other African country and roughly a third of all startup investment across the continent, driven by deals in climate technology, energy and fintech.
Kenya has maintained that lead into 2026, remaining the continent’s top startup funding destination in the first half of the year despite a broader slowdown in dealmaking globally, according to a report by TechCabal.
A formal residency programme could sharpen Nairobi’s competitive edge against rival investment hubs including Cape Town, Kigali and Mauritius, all of which have rolled out policies designed to attract high-net-worth individuals and fund managers seeking a stable base on the continent.
The development comes as the Dangote Group is planning a massive 700,000 bpd refinery in Kenya, with experts saying the new visa policy will benefit Nigerian expats mostly.
46 visa-free countries for Nigerians
Legit.ngearlier reported that Nigerian passport holders can reach approximately 46 destinationsin 2026 without obtaining a traditional visa ahead of travel, with options ranging from visa-free entry and visas on arrival to electronic visa (eVisa) systems.
The destinations span West Africa, the broader African continent, the Caribbean, Asia, the Middle East and Oceania, according to the latest travel advisory for Nigerian travellers.
West Africa remains the most accessible region, with the Economic Community of West African States (ECOWAS) Free Movement Protocol granting Nigerians entry into Benin, Burkina Faso, Côte d’Ivoire, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Senegal, Sierra Leone and Togo without a visa.
Pascal Oparada (Business editor)For over a decade, Pascal Oparada has reported on tech, energy, stocks, investment, and the economy. He has worked in many media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng
