In a bid to foster innovation and address the challenge of brain drain, technology ministers from Algeria, South Africa, Tunisia, Botswana, and Nigeria are planning to introduce startup visas, a pivotal initiative discussed during the second edition of the African Startup Conference in Algiers.
The startup visa aims to enable unrestricted movement for startups across the continent and increase the mobility of young entrepreneurs, VisaGuide.World reports.
As local media report, a significant outcome from the ministers’ meeting is their unanimous commitment to start negotiations on an African Charter on the brain drain. This charter aims to directly address the issue and empower African nations to retain their brightest minds.
According to the African Youth Survey 2022, a total of 52 percent of young Africans are likely to consider immigrating in the coming years, citing economic hardship and seemingly more positive opportunities in North America and Europe. To counter this trend, ministers propose implementing new policies and ending mergers to nurture local talent.
Ministers also announced their commitment to drafting a Pan-African Startup Strategy to increase startup growth. The strategy is designed to cultivate a business-friendly environment, introduce support programs, and encourage cooperation at the regional level.
In addition, they advocated for creating an African Founders Fund dedicated to providing essential financial resources to promising startups across the continent. This initiative aims to accelerate their development and contribute to advancing Africa’s technological landscape.
In this regard, African leaders have undertaken similar efforts, with Nigeria launching a $672 million Investment in Digital and Creative Enterprise (IDICE) fund in March.
Countries like Canada, the United Kingdom, and the Netherlands have also implemented similar startup visa programs designed to attract technology talents, innovators, and investors.
Previously, Canadian Minister of Immigration, Refugees and Citizenship Sean Fraser unveiled a new initiative allowing digital nomads to work in Canada for periods exceeding six months to attract a higher number.
Under the Digital Nomad visa, individuals from abroad can relocate to Canada and work remotely for companies or clients outside the country.
Recently, the British government has implemented new measures to curb migration, including proposals to raise the minimum wage threshold for foreign workers to qualify for a work visa.
The measures come in response to the UK’s record net immigration figures from last year, exceeding expectations and causing concern among policymakers.
Source link : https://visaguide.world/news/african-ministers-unite-for-startup-visas-amid-brain-drain-concerns/
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Publish date : 2023-12-13 08:00:00
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