Arbitration bill to regulate international proceedings
Foreign businesses are also understandably cautious about litigating disputes in local courts
As the world becomes more globalised and international investment interest grows across Africa, a sound international arbitration framework will provide foreign businesses with comfortingly familiar processes. Arbitration is increasingly becoming the preferred mode of commercial dispute-resolution and the chosen path of recourse for the protection of investor rights across the continent. Foreign businesses are also understandably cautious about litigating disputes in local courts, where it can be difficult to enforce the decisions of foreign courts. International arbitration provides a variety of dispute-resolution mechanisms that are flexible, consent based, robust, expedient and universally understood. Equally attractive to business is the globally adopted New York Convention, which allows for the relatively simple enforcement of a foreign arbitral decision in national courts, where the assets of a company may lie. There are 33 African states that are signatories to the New York C...