Undertaking on international arbitration will reassure investors
International Arbitration Act, digitisation of courts and virtual hearings give investors the comfort they need in the event of a dispute arising in SA
SA is making up for lost time as a competitive international arbitration centre. For years the country sat and watched from the sidelines while others, notably Egypt, Kenya, Mauritius, Rwanda and Uganda, put themselves on the map as credible international arbitration centres for civil and commercial disputes.
Now, SA has been galvanised into action. Where international disputes were once referred to the Arbitration Foundation of Southern Africa (Afsa) at the rate of one or two a year, the numbers have been accelerating rapidly. For the nine-year period between 2007 and 2016 only 10 international disputes were referred to Afsa for arbitration, compared with the 18 in 2018 alone, with a total quantum in excess of R640m...
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