Grenada wants Nigerian tech entrepreneurs to grow its economy through visa-free access

Grenada expects its young people and technology entrepreneurs to benefit from knowledge transfer and expanded business opportunities following the Caribbean nation’s decision to grant Nigerians visa-free entry.

This is according to the Chief Executive Officer of its Investment Migration Agency (IMA), Thomas Anthony.

His comments follows Grenada’s recent decision to grant visa-free entry to Nigerian entrepreneurs and investors as part of efforts to deepen economic and business ties between both countries.

Nigeria’s technology sector more advanced

Anthony told Nairametrics that Nigeria’s technology sector was more advanced than Grenada’s, expressing hope that easier travel would encourage Nigerian entrepreneurs to visit the island and share expertise with local businesses.

• “Our young people can learn from those entrepreneurs that would necessarily come to Grenada as a result of this opportunity. So that there will be knowledge transfer,” he said.

The initiative is also expected to create opportunities for Grenadian businesses to reach a larger market, particularly in technology and other sectors where entrepreneurs from both countries could collaborate.

• “The market size will grow so that the Grenadians also in that same tech space, for example, will have a bigger market to which they can access,” Anthony said.

Grenada eyes bigger market for entrepreneurs

Anthony said Grenada has a population of about 120,000, while the Organisation of Eastern Caribbean States (OECS) has approximately 700,000 people and the Caribbean Community (CARICOM) more than 20 million.

He noted that businesses based in Grenada could benefit from the free movement of people, goods and services within the OECS and CARICOM, giving entrepreneurs access to a broader regional market.

Grenada, a small island nation in the eastern Caribbean, comprises the main island of Grenada and the smaller islands of Carriacou and Petite Martinique. Known as the “Spice Isle,” it is a major regional producer of nutmeg and other spices.

Anthony said the country also needed to expand its population to support long-term economic growth and sustainability.

He said Grenada has about 120,000 residents across 133 square miles, while an estimated 350,000 Grenadians live in the diaspora.

• “We need to grow the population in the country to make the economy sustainable, viable,” he said.

Visa-free access could ease business travel

Anthony said the arrangement would make it easier for Nigerian entrepreneurs and prospective investors to visit Grenada without having to transit through the United States or the United Kingdom, where Nigerians may require transit visas.

He pointed to a twice-monthly direct flight to Antigua and Barbuda as another travel option for reaching the Caribbean.

• “Getting to Grenada or to the Caribbean will now no longer mean having to go through the US or the UK where you would have to have a visa, and we know the challenges with Nigerians getting visas to some of these places,” he said.

The easier travel arrangement is expected to support business visits, investment exploration and exchanges between entrepreneurs from both countries.

Anthony also expressed hope that Nigeria would introduce reciprocal visa-free access for Grenadian citizens.

• “My hope is that there will be reciprocity. Visa-free access for Grenadians into Nigeria, and that will allow them to learn and grow and bring new ideas back to Grenada,” he said.
• “Both nations can benefit from having this reciprocal visa-free access.”

Grenada seeks investment and business links

Anthony explained that the IMA works for the Grenadian government and processes citizenship applications from foreign nationals who invest in the country.

He said the agency encourages prospective applicants to visit Grenada and assess available investment opportunities before deciding which project to pursue as the basis for a citizenship application.

He added that removing the need for a transit visa would make it easier for Nigerians interested in the country’s investment migration programme to explore opportunities in person.

Visa-free initiative

The visa-free initiative was announced in June by Grenada’s Honorary Consul in Nigeria, Bidemi Sonoiki, as part of efforts to strengthen economic and business ties between the two countries.

The initiative is intended to ease business travel, encourage investment exploration and support educational and commercial exchanges.

Relations between Nigeria and Grenada have also developed since the establishment of Grenada’s Honorary Consulate in Lagos in 2022. The engagement has supported closer government relations, private-sector collaboration and the establishment of the Nigeria-Grenada Chamber of Commerce.

Both countries are exploring commercial opportunities across tourism, healthcare, agriculture, agro-processing, logistics, education, financial technology, renewable energy and real estate.