Trade Policies

The suspension of operations as a result of government measures towards curbing Covid-19, should not be encouraged. Competition agencies must remain vigilant in protecting vulnerable consumers with no bargaining power from unscrupulous businesses. Further, while cartel conduct is per se illegal, it is the responsibility of the competition agencies to provide the business community with guidance on how they can operate during the crisis and at the same time comply with competition law.  Covid-19 has also proved to us that, competition agencies need to reinvent their enforcement including the adoption of digital technologies such as artificial intelligence and investing in the security and privacy concerns of the people. Integration of technology is no longer a choice.

The huge investments in the extractive sector should, in principle, be a catalyst for economic growth, job opportunities, and development. Often, these investments have been a source of environmental degradation, socio-economic malaise and despair. Equatorial Guinea, for instance, is a classic example of the ‘resource curse mystery in Africa. To leverage extractive resources for development, African countries are faced with legal, fiscal, implementation, infrastructure, regulatory and institutional challenges. This contribution addresses state and investor responsibility in the sustainable development of Africa’s extractive sector. It highlights four responsibility indices that will guide states and investors in fostering a shared value approach to an inclusive and sustainable development of Africa’s extractive sector.