African Continental Free Trade Area Agreement (AfCFTA)

Africa is by far the continent with the lowest carbon emissions, accounting for between 2% to 3% of global CO2 emissions (with South Africa accounting for about 33% of all CO2 emissions in Sub-Sahara Africa). However, with the prospects of increased intra-Africa trade as a consequence of the ambitions of African states under the African Continental Free Trade Area ("AfCFTA") it is inevitable for CO2 emissions to increase with the expanded use of fossil fuels (petroleum products, gas and coal) in prospective industries[1] who intend to tap into the opportunities that the AfCFTA presents. In addition, the prospects of increased trade between Africa states and other strategic trading partners such as the United States, the European Union and China will also contribute to Africa's pie of CO2 emission to increase gradually overtime. As for the rest of the world, the commitment to decarbonization the global economy has become even much strong pursuant to the release of report titled 'Climate Change 2021: The Physical Science Basis' dated August 2021 by the Intergovernmental Committee on Climate Change ("ICCC Report"). The ICCC Report has set-off the alarm bells that it may already be too late to meet the CO2 emissions target and has re-emphasized the need for accelerated investment in clean energy technologies and has now largely solidified the significant role green hydrogen can play as part of the energy transition from fossil fuels (petroleum products etc) to meet the global target of reducing CO2 emissions to about 1.5 degrees Celsius.

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.

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.

Given the promising potential for deeper trade and investment relationships between both regions, there is a dearth of scholarly analysis on the Africa-Caribbean economic relationship, which this AfronomicsLaw Symposium aims to address partially. The five essays in this symposium, all authored by well-respected academics and practitioners, explore various themes of the Africa-Caribbean relationship. The essays all refer to the shared bonds of history and the need for more significant action on both sides to actualise a mutually beneficial region-to-region relationship. All of the essays offer innovative recommendations for deepening Africa-Caribbean relations.

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.

On July 1, 2021, the Organization for Economic Cooperation and Development (OECD) secured the votes of 130 members out of 139 members of the Inclusive Framework, on a two-pillar plan to reform the global tax rules. Notably, two African countries—Kenya and Nigeria—, active members of the Inclusive Framework withheld their support for this plan, which has been described by many as “historic”. Nigeria is a major economic force in West Africa and the largest economy, by GDP, on the African continent. Kenya is East Africa’s gateway and the region’s largest economy. What must have influenced their decisions not to support a historic global tax reform, and what are the consequences of such action?

Whatever their level of evolution in competition regulation, developing countries, particularly African countries except for a few rare success stories such as South Africa, need to interrogate their RCRs and national competition laws. Countries without a competition regime or law have the advantage of avoiding the Washington Consensus trap and forging a national competition law tailored to their development goals

While WIPO’s technical assistance programme has been seen as less biased than much of the bilateral assistance on offer from the EU and the US, the history that Africa has with WIPO concerning cooperation in the provision of IP technical assistance can be said to have led to the introduction of Western-style IP norms across the continent. Our leaders and negotiators, therefore, need to proceed with caution in negotiating the AfCFTA IP protocol and the kind of technical assistance they receive. They must consult broadly and court the services of African scholars and experts on the matter.

To ensure that innovative capacity is developed on the continent, it is pertinent to promote regional innovation. As a starting point, negotiators of the AfCFTA may consider including in the text appropriate provisions that will allow the collaboration and nurturing of innovative capacity in Africa. Open innovation is an approach that meets the needs of Africa and is worth considering.

This blog post focuses on the Agreement for the establishment of the African Continental Free Trade Area (AfCFTA) and the implications for the evolution of lex mercatoria in Africa. This blog post is primarily based on a recent paper by Chisa Onyejekwe and Eghosa Ekhator titled ‘AfCFTA and Lex Mercatoria: Reconceptualizing International Trade Law in Africa’. The paper argues that some of the major innovations embedded in the AfCFTA (such as variable geometry and dispute settlement amongst others) form the crux of an emerging African practice of lex mercatoria. Consequently, the creation of AfCFTA has engendered what can be termed as an emerging concept of ‘Lex Mercatoria Africana’. In the context of the AfCFTA, this is exemplified by the notion that the AfCFTA explicitly promotes African trade principles.