Headline

Australia Scraps Special Visa Scheme Designed For Wealthy Investors

Published

2 years ago

January 22, 2024

The Australian government has discontinued the “golden visa” programme, which allowed wealthy investors across the globe the right to live in the country.

According to BBC, Australia ended the special visa programme designed to attract foreign business, for “delivering poor economic outcomes”.

It had earlier been reported that critics argued that the scheme was being used by “corrupt officials” to “park illicit funds”.

The scheme which was craved out from an immigration system would be replaced with more skilled-worker visas.

Thousands of significant investor visas (SIV) have been granted through the program since 2012, with 85% of successful applicants coming from China according to government data.

Marketed as a way to drive foreign investment and stoke innovation, candidates had to invest more than A$5m (£2.6m;$3.3m) in Australia to be eligible.

After multiple reviews, the government found that the scheme had failed to meet its core objectives. In a policy document from December, it announced that it would scrap it, focusing instead on creating more visas for “skilled migrants” capable “of making outsized contributions to Australia”.

“It has been obvious for years that this visa is not delivering what our country and economy needs,” Minister for Home Affairs Clare O’Neil said in a statement on Monday.

The move has been welcomed by Clancy Moore, the chief executive of Transparency International Australia, who told the BBC: “For far too long corrupt officials and kleptocrats have used golden visas as a vehicle to park their illicit funds in Australia and arguably hide their proceeds of crime.”

The program had already come under intense scrutiny for its alleged “loopholes” and “vulnerabilities”. Bill Browder, who is widely credited as being responsible for the creation of the Magnitsky Act – a US law designed to target individuals for abuses committed overseas, has also criticised the scheme.

In 2016, a government inquiry raised concerns that it had the “potential for money laundering and other nefarious activities”, while in 2022 The Australian newspaper reported that members of Cambodia’s Hun Sen regime were among the bad actors who had exploited the system.

The government inquiry also found that the visas were bringing people into Australia with “less business acumen” than would have otherwise arrived, while offering tax concessions that were costing the public.

Some asset managers have pushed back on those assessments, arguing that the follow-on investment from SIVs has ended up being significantly more than the A$5m buy in.

Australia now joins the UK, which scrapped a scheme offering fast-track residency to the mega rich in 2022, due to concerns about the inflow of illicit Russian money.

So-called golden visa schemes have also come under scrutiny in Malta, which has been granting speedy citizenship to wealthy non-European Union nationals.

In 2022, an investigation discovered the visas being granted after people spent just days in the island nation, while the EU had raised concern over risks of money laundering, tax evasion and corruption.

BBC

Headline

Africa Coups: 10 In Five Years

Published

2 hours ago

December 7, 2025

Editor

A military coup attempt in Benin Sunday adds to a list of such incidents on the turbulent African continent.
A group of soldiers announced that they had ousted President Patrice Talon, although his entourage said he was safe and the army was regaining control.

Here is a recap of the 10 successful coups in Africa in the last five years:

Mali

Malian President Ibrahim Boubacar Keita is overthrown by five army colonels in August 2020.

In May 2021, the Malian military takes over from the civilian leaders of an interim government.
Colonel Assimi Goita, who led both coups, is sworn in as transitional president.

After promising to hold elections in February 2024, the military puts them off indefinitely, pointing to the jihadist violence plaguing the country.

In July 2025, Goita approves a law granting himself a five-year presidential mandate, renewable without election.
In September jihadists launch a fuel blockade, weakening the ruling junta.

Guinea

On September 5, 2021, mutinous troops led by lieutenant-colonel Mamady Doumbouya take over in Guinea, arresting President Alpha Conde.

Doumbouya in early November 2025 submits his candidacy ahead of December 28 elections that are meant to restore constitutional order.

Sudan

After weeks of tension between the military and civilian leaders who had shared power since the ousting of dictator Omar al-Bashir, the armed forces led by army chief Abdel Fattah al-Burhan stage a new coup on October 25, 2021.

Since April 2023 war has raged between the regular armed forces led by Burhan and the paramilitary Rapid Support Forces, led by his former deputy Mohammed Hamdan Daglo.

The conflict has so far killed tens of thousands of people and created one of the world’s worst humanitarian crises.

Burkina Faso

Burkina Faso underwent two military coups in 2022.

In January that year mutinous soldiers led by Lieutenant-Colonel Paul-Henri Sandaogo Damiba arrest President Roch Marc Christian Kabore.

Then in September army officers announce they have dismissed Damiba. Captain Ibrahim Traore becomes transitional president, but elections he promised do not materialise. In May 2024 the junta authorises him to stay for another five years in a country wracked by Islamist violence.

Niger

On July 26, 2023, members of the presidential guard overthrow Niger’s President Mohamed Bazoum, elected in 2021. General Abdourahamane Tiani, head of the presidential guard, takes over.

In March 2025, the junta extends by at least five years its transitional leadership of the country which is plagued by jihadist violence.

Gabon

In Gabon, ruled for 55 years by the Bongo family, army officers on August 30, 2023 overthrow President Ali Bongo Ondimba, less than an hour after he is declared winner of an election the opposition says was fraudulent.
General Brice Oligui Nguema is named transitional president.

In April 2025 he is elected president with 94.85 percent of the vote. He is sworn in on the basis of a new constitution approved by referendum during the transition.

Madagascar

In October 2025, the military ousts Madagascar’s president Andry Rajoelina and takes power following weeks of “Gen Z” anti-government protests.

Army colonel Michael Randrianirina is sworn in as Madagascar’s new president, promising elections within 18 to 24 months.

Guinea-Bissau

In November 2025, military officers in Guinea-Bissau declare they have “total control” of the coup-prone west African country, closing its borders and suspending its electoral process three days after general elections.

The military says a command “composed of all branches of the armed forces” is taking over the leadership of the country “until further notice”.

Headline

Benin Republic Presidency Breaks Silence On ‘Military Takeover’

Published

9 hours ago

December 7, 2025

Editor

Benin Republic military
Military personnel in Benin on Sunday said they had ousted President Patrice Talon, but the Presidency said he was safe and the army was regaining control.

Talon, 67, a former businessman known as the “cotton king of Cotonou,” is due to hand over power in April next year after 10 years in office marked by strong economic growth and rising jihadist violence.

West Africa has seen several coups in recent years, including in Niger, Burkina Faso, Mali, Guinea, and most recently Guinea-Bissau.

Early on Sunday, soldiers calling themselves the “Military Committee for Refoundation” (CMR) said on state television that they had met and decided that “Mr Patrice Talon is removed from office as president of the republic.”

The signal was cut later in the morning.

Shortly after the announcement, a source close to Talon told AFP the president was safe.

“This is a small group of people who only control the television. The regular army is regaining control. The city (Cotonou) and the country are completely secure,” they said.

“It’s just a matter of time before everything returns to normal. The clean-up is progressing well.”

A military source confirmed the situation was “under control” and said the coup plotters had not taken Talon’s residence or the presidential offices.

The French Embassy reported on X that “gunfire was reported at Camp Guezo” near the president’s official residence in the economic capital and urged French citizens to remain indoors.

Benin has a history of coups and attempted coups.

Talon, who came to power in 2016, is due to end his second term in 2026, the constitutional maximum.

The main opposition party has been excluded from the race to succeed him, leaving the ruling party to compete against a so-called “moderate” opposition.

Talon has been praised for driving economic development but is often accused of authoritarianism.

(AFP)

Headline

JUST IN: Soldiers Announce Military Takeover Of Govt In Benin Republic

Published

10 hours ago

December 7, 2025

Editor

A group of soldiers appeared on Benin’s state television on Sunday to announce the dissolution of the government in what is being described as an apparent coup, marking yet another power seizure in West Africa.

Identifying themselves as the Military Committee for Refoundation, the soldiers declared the removal of the president and all state institutions.

President Patrice Talon, who has been in office since 2016, was scheduled to leave office next April after the presidential election. His party’s preferred candidate, former Finance Minister Romuald Wadagni, had been widely viewed as the frontrunner. Opposition candidate Renaud Agbodjo was disqualified by the electoral commission on the grounds that he did not have “sufficient sponsors.”

The takeover comes a month after Benin’s legislature extended the presidential term from five to seven years while retaining the two-term limit.

(AFP)