...Nigeria leads applicant pool as officials deepen outreach across the continent
ST. GEORGE’S, Grenada — GRENADA is turning to the African continent as a new frontier for its Citizenship by Investment (CBI) Programme, which continues to serve as a vital economic pillar for the island.
Government officials have noted a growing interest from African nationals, with data from the first quarter of 2025 showing a sharp uptick in general applications. According to the Investment Migration Agency (IMA) of Grenada, between January and March, 123 applications were reveived - surpassing the first quarter of 2024 - with 174 applications processed under the National Transformation Fund and Real Estate options. Of those, 149 were approved, generating more than EC$65 million (approximately US$24 million) in revenue. The remaining 25 applications were denied.
The approvals resulted in 632 new residents under the programme.
Nigerians are currently the top applicants, accounting for 14 percent of the total submissions, followed closely by Chinese nationals.
"So, interestingly, Nigeria represents the largest demographic of individuals applying for the Citizenship by Investment programme, followed closely by China," said Thomas Anthony, CEO of IMA Grenada. He was addressing a gathering of stakeholders from Africa and the Caribbean.
CBI programmes have long been an essential revenue source for several Caribbean countries, including Antigua and Barbuda, Dominica, Grenada, St. Lucia, and St. Kitts and Nevis. However, these programmes have come under increased scrutiny from developed nations whose visa-free arrangements with the Caribbean could be affected by perceived vulnerabilities in the CBI schemes.
Despite this, Grenada is doubling down on outreach. Anthony revealed that the agency recently visited Kenya in collaboration with the Nairobi Chamber of Commerce, where they engaged with over 100 attendees.
"...we believe that we will see some fruit from that event," he said. "We also had a private event with 42 individuals, and my understanding is that 25 percent of those have expressed an interest in applying for the programme."
As part of its continued push, the agency is planning a West Africa tour in October, with Ghana identified as a promising new market for the programme.
This effort aligns with the region-wide initiative to build stronger economic ties with Africa—an area many Caribbean leaders now view as key to long-term growth amid a shifting geopolitical landscape.
"So, we're trying to grow the demographic coming out of Africa," Anthony added, "but we are also playing our part in creating that bridge between Africa, Grenada, and the Caribbean at large, and allowing individuals to make investments into Grenada, but also, as I said earlier, protecting those investments by becoming citizens of Grenada.
The push for deeper Africa-Caribbean collaboration was also evident during the Fourth Africa-Caribbean Trade and Investment Forum recently held in Grenada. The event, spearheaded by Afreximbank, attracted over 2,000 regional leaders, delegates, and stakeholders from across both regions.
More than US$300 million in investment deals and projects were signed during the forum. St. Kitts and Nevis alone secured over US$130 million in projects.
These developments are part of Afreximbank’s broader US$3 billion line of credit initiative aimed at bridging the gap between the Caribbean and African economies.
