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Oxford Debate: “The House Believes That Africa Would Be Better Off Without Investment Treaties”
Geneva
30 October 2024
Guided by Guillaume Tattevin, this thought-provoking debate tackled a bold and timely question: “Would Africa thrive better without international investment treaties?”
Pro Position: Samuel Mbiriri Nderitu, FCIArb, FMIArb partner at Mbiriri Ngugi & Co Advocates argued that investment treaties are essential for Africa, as investors prioritize legal certainty, stable politics, and infrastructure. While Bilateral Investment Treaties (BITs) may not be the first thing on investors’ minds, they are vital for safeguarding investments. Nderitu proposed that in the absence of BITs, alternatives like free trade agreements could still drive market access for African goods, using Kenya and Ethiopia ( Safaricom) as examples of success.
Con Position: Benjamin Ng'eno associate at LALIVE contended that African states don’t need international treaties to thrive. He highlighted that international trade is growing without BITs and praised Ethiopia’s BIT with the Netherlands as a model for attracting investment, like Safaricom. Ng’eno pointed to a shift towards sustainable, self-driven investment rather than dependency on BITs, signaling a new era for African development.
The debate showcased contrasting views on the future of investment in Africa, emphasizing the complexity and evolving nature of international treaties in promoting economic growth across the continent.
Pro Position: Samuel Mbiriri Nderitu, FCIArb, FMIArb partner at Mbiriri Ngugi & Co Advocates argued that investment treaties are essential for Africa, as investors prioritize legal certainty, stable politics, and infrastructure. While Bilateral Investment Treaties (BITs) may not be the first thing on investors’ minds, they are vital for safeguarding investments. Nderitu proposed that in the absence of BITs, alternatives like free trade agreements could still drive market access for African goods, using Kenya and Ethiopia ( Safaricom) as examples of success.
Con Position: Benjamin Ng'eno associate at LALIVE contended that African states don’t need international treaties to thrive. He highlighted that international trade is growing without BITs and praised Ethiopia’s BIT with the Netherlands as a model for attracting investment, like Safaricom. Ng’eno pointed to a shift towards sustainable, self-driven investment rather than dependency on BITs, signaling a new era for African development.
The debate showcased contrasting views on the future of investment in Africa, emphasizing the complexity and evolving nature of international treaties in promoting economic growth across the continent.
