How Africa Will Lose Skilled Manpower Under New UAE Citizenship Law

Emirati Vice-President and Dubai ruler Sheikh Muhammed bin Rashid al Maktoum

The United Arab Emirates (UAE) following the trends in the United Kingdom and Canada through their skilled personnel visa programmes, and the United States Lottery Visa programme, has launched a similar project aimed at extending citizenship rights to “eligible” foreigners who contribute to the Gulf country’s development.  According to the Emirati Vice-President and Dubai ruler Sheikh Muhammed bin Rashid al Maktoum who made the announcement over the weekend, the UAE has adopted a number of amendments that will allow the granting of Emirati citizenship to “talented” professionals, investors, scientists, engineers, and doctors who contribute to the development of the Gulf country. He said the amendments will also cover artists, authors and their families.

Emirati Vice-President and Dubai ruler Sheikh Muhammed bin Rashid al Maktoum
Emirati Vice-President and Dubai ruler Sheikh Muhammed bin Rashid al Maktoum

“The new directives aim to attract talents that contribute to our development journey,” Rashid al Maktoum explained. He noted that the UAE cabinet and authorities will select “those eligible for the citizenship under clear criteria set for each category.”

Read also:Startups In Ethiopia Have A New Fund From The United Arabs Emirates

Meanwhile, the law also allows receivers of the UAE passport to keep their existing citizenship. The decision is part of the UAE’s new reforms seeking to attract foreign investors.

The United Arab Emirates has opened a citizenship programme for professionals and Investors. The UK, Canada and the US have been running similar programmes for years.

Analysts have warned that this new opportunity closer home to Africa will end up raping the continent of its highly skilled workforce many of whom are searching for greener pastures, and better remunerations, especially in the health sector. According to an economist who pleaded anonymity “I fear Nigeria may get stripped of what is left of its professionals in no time. Nigeria has come so low in its trajectory to the point where all it values is personal loyalties and skills and professionalism mean nothing. The Minister of Labour even said doctors’ emigration is a good thing because they repatriate US dollars”.

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Many other observers have equally expressed similar warnings across other fields of endeavors especially in the ICT sector where African youngsters are doing quite well. Without a level playing ground, opportunities for younger people in Africa, the continent would lose its young skilled professionals to better competitive environments like the UAE.

In November 2020, the UAE announced the approval of amendments to end punishment against alcohol consumption, cohabitation, and suicide attempts. The legal age for alcohol consumption in the UAE is 21. The amendment also includes ending the special treatment of individuals charged for “honor killings.”

Read also:The role of technology in unlocking trade value in East Africa

Anyone facing such charges will receive prison sentences and Emirati courts will no longer hand defendants reduced prison terms. The move has largely been interpreted as a notable victory for gender equality in the Gulf country. The amendments also include changes to the Personal Status and the Civil Transactions laws, allowing non-Emirati citizens to choose the law of their country of origin to solve their issues, including inheritance. For many observers, the spate of reforms is meant to upgrade the UAE’s global image and make the country more attractive to foreign expertise, including investors and highly skilled professionals.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Startups in Kenya, Ghana and Tanzania Have Over $150 million New Fund

startups

Kenyan startups have more investment opportunities in town. A Dubai-based equity fund, Nimai Capital has appointed Kenya’s Victoria Commercial Bank (VCB) to oversee the investment of its Sh1.5 billion in financial technology startups in Africa and Asia.

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Here Is The Deal

  • The new fund is named the Nimai Emerging Financial Services Fund (NESF) facility and it will seek to benefit 1.7 million customers in Kenya, Sri Lanka, Bangladesh, Nepal, India, Ghana, and Tanzania.
  • However, only startups in the technology mobility-enabled emerging financial services opportunities including but not limited to banking, insurance, retail, and housing finance, microfinance will be able to access the funds.
  • The Fund will be regulated by the Cayman Islands Monetary Authority.

“The markets were chosen based on the existing (fintech) presence and experience. It integrates investment expertise with deep operational capability and resources,” said a joint statement.

Victoria Commercial Bank’s chief executive Yogesh Pattni termed the deal as an opportunity to deepen their relationship with Nimai Capital which recently gave out Sh1 billion kitty for onward lending to women-led enterprises.

Nimai co-founder and managing director Pankaj Mundra said NESF will benefit from VCB’s business experience and deep understanding of the Kenyan market.

“We look forward to working with Victoria Commercial Bank to source and develop investment opportunities for the Fund across East Africa,” said Mr Mundra.

What Is Expected of Interested Startups

To be able to access this fund, interested startups or investee companies under the Nimai Emerging Financial Services Fund must be startups with proven track records.

Inside The Growth of UAE Investments in Africa — Botho Emerging Markets Group

Successful startups will gain access to diaspora financial services, expert financial advice from line companies as well as have systems integrated with Fintech firms in India thereby enabling them to facilitate cross-border financial services.

“We have a firm belief that the fund will make a significant and positive impact in the lives of millions of families in addition to generating appropriate financial returns for investors,” said the statement.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

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