AfCFTA hosts 10th meeting of the committee on investment protocol in Windhoek

The African Continental Free Trade Area (AfCFTA) Secretariat, in collaboration with the Ministry of Industrialisation and Trade, convened the 10th Meeting of the Committee on Investment in Windhoek, Namibia. The meeting, which runs from October 1 to 4, 2024, aims to review and consider Draft 1.0 of the Annex on the Rules and Procedures for the Prevention, Management, and Settlement of Disputes under the Protocol on Investment.

This meeting was preceded by a joint meeting of the Committee on Investment and the Dispute Settlement Body (DSB), to apprise the members of the DSB of the Annex and how it is related to the AfCFTA Protocol on Dispute Settlement.

The objective of the innovative approaches set out in the Draft Annex is to provide a sound legal framework for the prevention, management and settlement of disputes and the effective implementation and achievement of the overarching objectives of the Protocol on Investment. The Draft Annex provides three avenues for dispute prevention and resolution namely: Dispute Prevention and Grievance Management; Alternative Dispute Resolution; and Dispute Settlement.

The AfCFTA Protocol on Investment seeks to create a harmonised, predictable, and a secure environment investment regime for the attraction, retention and expansion of investment across the continent. Its core objectives include:

 Promoting intra-African investment by encouraging, facilitating, retaining, and expanding investments supporting AfCFTA member states’ sustainable development.

 Establishing a transparent, balanced, and predictable legal framework for investment that considers the interests of member states, investors, and local communities.

•   Providing a legal structure for preventing, managing, and resolving investment disputes, enhancing investor confidence in Africa’s markets.
•   Encouraging the acquisition and transfer of technology, contributing to the continent’s technological advancement.
•   Promoting coordinated efforts on investment promotion, facilitation, and protection within Africa. These initiatives form part of the AfCFTA’s broader mission to advance economic integration and position Africa as a top destination for African and global investments. This is particularly critical given the evolving international investment landscape, where geopolitical tensions, economic disruptions, and emerging opportunities are prompting investors to rethink their strategies.The AfCFTA Protocol on Investment aligns with the objectives of Agenda 2063, Africa’s blueprint for long-term development and transformation, reinforcing the continent’s commitment to regional integration and sustainable growth. It aims to foster inclusive economic integration by providing accessible and affordable dispute settlement mechanisms, while also promoting a conducive investment climate across Africa.The outcomes of these negotiations are expected to play a critical role in shaping how investment disputes are handled under the AfCFTA leading to legal security in intra-African trade and investment across the African Continent.