African Continental Free Trade Agreement

China is the largest developing country with a GDP of USD17.82 trillion, while Africa boasts of a conglomeration of the highest number of developing countries under the largest regional free trade mechanism – the African Continental Free Trade Area (AfCFTA) – with a collective GDP of USD3.4 trillion. China is Africa’s largest bilateral trade partner. Trade between China and Africa stood at USD282 billion in 2023. China and Africa appreciate the significance of IP rights to fostering bilateral, and intra-regional (Africa), trade. Little wonders, therefore, international cooperation on IP rights forms a key strategy for achieving the objectives of China’s Belt and Road Initiative (BRI), and the AfCFTA agreement. As the 9th Forum on China-Africa Cooperation (FOCAC), which was established in 2000, holds in China from 4-6 September with possible focus on green energy, ICTs and technology development, it is important to examine the continued prominence of IP issues in China-Africa relations.

The Protocol on Intellectual Property Rights (IPR) Protocol aims to promote science, industrialisation, services, investment, digital trade, technology and technology transfer, and regional value chains. This aligns closely with the African Union's Agenda 2063, Africa’s collective blueprint for transforming the continent into a global powerhouse of the future. This analysis argues that the IPR Protocol offers a viable pathway for African countries to foster technology transfer, innovation and technological advancement by creating a unified market, encouraging innovation and competition, enhancing industrialization and infrastructure development, and strengthening human capital development.

We are thrilled to announce the second edition of the Afronomicslaw Academic Forum Conference, following the tremendous success of our inaugural event.

Interested scholars and practitooners are invited to submit an abstract of about 400 words, in English, French, Portuguese or Arabic, by 25th June 2024 at the latest, at the following email address AfCFTA.HAQAA@obreal.org.

In the last decade, there have been seven major leaks of financial documents in tax havens which have exposed the international web of financial flows, mechanisms to facilitate these flows and the major role players in these activities. In each leak, questions often arise on how both legal loopholes and illicit means are used to facilitate the outflow of funds from low- and middle-income countries to tax havens by corporations, wealthy individuals, and politically exposed persons (PEPs). These leaks are often the result of whistleblower-led investigations and the release of these financial documents has become a primary resource in understanding how financial corruption works globally. The effects of these leaks have seen heads of government sacked or resigned in some cases while little to no action takes place in other countries. However, what is undeniable is the role of whistleblowers is increasingly becoming central to curbing illicit financial flows (IFFs) especially as the global digital economy and stronger privacy-enhancing technologies make the detection of IFFs harder. Within Africa, very few countries have comprehensive national laws for whistleblowers despite the majority ratifying international agreements for the protection of whistleblowers. Using Nigeria, Kenya, and South Africa as case studies, this note reviews the regulatory landscape in the countries and the extent to which current laws and practices aid or hinder whistleblowing on IFFs.

There is no gainsaying the fact that Illicit Financial Flows (IFFs) constitute a major impediment to Africa’s sustainable development. In fact, IFFs have a direct impact on a country’s ability to raise, retain and mobilise its own resources to finance sustainable development. Its negative impact further includes draining a country’s foreign exchange reserves, reducing domestic resource mobilization, preventing the flow of benefits of foreign direct investment, and worsening insecurity, poverty and economic inequality.

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.

March 11, 2024

BII Sells Stake in I&M Group to East Africa Growth Holding for $65 Million