News: 06.20.2025

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Sovereign Debt News Update No. 139: The Mutapa Investment Fund Recapitalization and Its Implications on Zimbabwe's Debt Relief Prospects

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid. Focusing in particular on Kenya, Zambia, Zimbabwe, Mozambique, Nigeria and Senegal, the AfSDJN will also amplify African voices and decolonize narratives on African sovereign debt . Its activities include producing research outputs to enhance the network’s advocacy interventions. It also seeks to create awareness on and elevate the priority given to sovereign debt and other economic justice issues on the African continent and beyond throughout 2021.

Preferred in Principle, Penalised in Practice: Afreximbank and the Politics of Preferred Creditor Status*

This paper examines the contested claim that the African Export-Import Bank (Afreximbank) enjoys Preferred Creditor Status (PCS), particularly in the context of its recent downgrade by Fitch to BBB-. While Afreximbank cites provisions in its founding treaty as evidence of such status, the realities of sovereign debt restructuring suggest that PCS is not a legally enforceable right, but a practice shaped by consistent behaviour and market consensus. The analysis argues that, despite normative justifications advanced by African multilateral development banks and sympathetic scholars, the inconsistent treatment of Afreximbank’s claims by African sovereigns has weakened its path toward recognition. Drawing on recent debt workouts in Ghana and Zambia, the paper highlights how systemic pressures and the absence of a global debt resolution framework have compelled member states to treat Afreximbank as an ordinary creditor. It concludes that recognition of PCS for regional development banks cannot be achieved solely through legal assertion or treaty clauses. Instead, it must be earned through consistent practice, reinforced by institutional behaviour, and ultimately sponsored by a reformed global financial architecture. In the interim, the creation of a differentiated PCS tier for regional development banks could serve as a pragmatic step toward balancing developmental imperatives with restructuring realities.

Afronomicslaw Sovereign Debt Quarterly Brief, No. 5 of 2025: Intermediaries, Transaction Costs & Sovereign Debt Sustainability in Africa

The Repository contains cases, documents, bibliographies and materials on International Economic Law relating to Africa and the Global South with a view to making these materials easily and freely accessible. At the moment, the repository contains cases from the Common Market for Eastern and Southern Africa, (COMESA), Court of Justice cases as well as an extensive summary of Africa's regional and sub-regional international economic regimes. Afronomicslaw.org invites our readers to contribute towards building this repository by proposing and submitting bibliographies particularly of materials of international economic law and international law that concern and relate to Africa and the Global South. The justifications for this repository include making these materials easily accessible and available especially in resource constrained environments. In addition, the repository is consistent with a major Afronomicslaw.org goals of: (i) centering and amplifying the scholarship that is excluded in the canon of international law in the most widely read publications; and (ii), producing content to overcome barriers to access such as cost of printed materials, paywalls and stringent intellectual property rights protections.

Deadline Extension - Call for Applications: Afronomicslaw Masterclass on Climate Finance, the Green Transition, and Sovereign Debt – Accra, Ghana

Join a Transformative Training at the Intersection of Climate Justice, Economic Sovereignty, and Global Governance. Afronomicslaw invites applications for an in-person Masterclass on climate finance and economic justice training taking place in Accra, Ghana. This high level, interdisciplinary program will bring changemakers from across Africa together to unpack the urgent challenges of climate finance, debt, and economic justice facing the continent.

News: 06.13.2025

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

News: 06.06.2025

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Book Review IV of The African Continental Free Trade Area Agreement: The Development of a Rules-Based Trading Order - Sub-National Governments, Cities and the AfCFTA

Professor Kofi Kufuor, in his recent book on the African Continental Free Trade Area (AfCFTA), dedicates a chapter to African sub-national governments (SNGs), cities and the AfCFTA (generally see Kufuor, 2024: chapter 6, 148-160). In this chapter, Kufuor makes a compelling observation that cities and sub-national governments (SNGs) are absent from the AfCFTA complex (Kufuor, 2024: 148). He proceeds to explain this absence and the need for their inclusion. This review critically reflects on Kufuor's assessment, drawing on the emerging literature on paradiplomacy in the African context and the engagement of SNGs and cities with integration in Africa.

Book Review III of The African Continental Free Trade Area Agreement: The Development of a Rules-Based Trading Order

While much has been written about the African Continental Free Trade Area (AfCFTA), very few studies address the social, political and cultural implications of this new regional bloc from the perspective of international economic law. In this respect, Professor Kufuor’s book pushes disciplinary boundaries and presents an original account of how markets have been constituted, expanded and reformulated across Africa. Kufuor draws on a range of theoretical lenses from international political economy, jurisprudence, history, sociology and economics to critically evaluate what institutional shifts will be required at different levels of governance if the aim of pan-African unification through a rules-based order is to materialise.

Book Review II of The African Continental Free Trade Area Agreement: The Development of a Rules-Based Trading Order

The AfCFTA, which aims at setting up a single market for goods and services ‘from Cairo to Cape Town’, is the subject of the eloquent monograph written by Professor Kufuor. The author, a well-known scholar on African legal affairs, has published extensively, inter alia, on world trade, on (the problems of) African integration and on RECs. Therefore, he is eminently qualified to write about the pan-African ‘Trading Order’.