Investment migration services are noting a spike in the number of people upping and leaving South Africa or at least looking into it as a viable ‘Plan B’.
Speaking to, Amanda Smit, a managing partner at investment advisory firm Henley & Partners, said that there has been an uptick in people inquiring about investment migration products in South Africa and countries abroad.
South Africa’s energy crisis is in the worst position it has been in for years, with everyday citizens facing blackouts ranging from two to four hours at a time, sometimes three times a day.According to Smit, the type of people that are deciding to leave include highly successful and established business people with a family wanting to get their ‘Plan B’ in place.
In February, Edward Kieswetter, the commissioner of the tax authority, admitted that over 6,000 people had left the country. However, he said that headlines noting wealthy people leaving the country are overstated.
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