Whatever new SA president Cyril Ramaphosa is doing to keep affluent South Africans to stay in the country is not working. The high number of people currently leaving the country means that South Africa is currently on track to break emigration records.
With the Wall Street Journal today saying Ramahosa looks like a re-incarnation of Bob Mugabe, it comes a no surprise that the rich are ready to leave SA.
According to UK visa solutions experts, Move Up, there is a 22% increase in South Africans interested in relocating to the United Kingdom (UK) – and that’s just over the past two years with this tend escalating as Ramaphosa propagates property expropriation without compensation.
BusinessTech quotes Financial Emigration expert Jonty Leon saying there has been a huge increase in citizens deciding to leave the country after last year’s announcement by Parliament that there would be a change in tax laws. He said other contributing factors include education, and a lack of job opportunities.
“The political instability. Looking at the recent comments on land expropriation without compensation, that is all major factors which are pushing South Africans to leave South Africa,” he said.
According to recent data, the UK is by far the most popular destinations for South African immigrants.
Talking to BusinessTech in June, immigration consultants Breytenbachs explained that the United Kingdom has always been a very popular destination for South Africans who decided to move overseas.
“This can probably be found in the fact that it is relatively easy for South Africans to adapt to the English way of life. South African businesses also tend to find their feet relatively easy, and easily adapt to the way business is done,” it said.
“This, together with the fact that there is a large South African community settled in the UK, and the relative ease to commute between the two countries, make the UK a popular immigration destination for South Africans.”