Addis Ababa, Ethiopia, 31 October 2024 – The 11th Meeting of the African Continental Free Trade Area (AfCFTA) Committee on Investment concluded successfully on 31 October 2024, marking a significant step forward in enhancing Africa’s investment landscape. Held in Addis Ababa, Ethiopia, the meeting focused on advancing negotiations for the Draft Annex on Rules and Procedures for the Prevention, Management, and Resolution of Disputes to the Protocol on Investment.
This four-day meeting aimed to finalise a robust legal framework designed to promote, facilitate, and protect investments across the continent. This objective underscores Africa’s proactive approach to shaping its investment climate in the face of declining global Foreign Direct Investment (FDI). Representing H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, Dr. Tsotetsi Makong emphasised the framework’s importance in fostering economic resilience and attracting essential investments, especially given global shifts in FDI flows. The Chairperson, Mr. Aristides Mbwasi, Director of Private Sector Investment at the President’s Office of Planning and Investment in the United Republic of Tanzania, commended the dedication and collaboration of the delegates, noting that this Annex represents a critical component of Africa’s strategy to foster a stable and predictable investmentclimate. He urged the delegates to “demonstrate the trust and confidence placed in them by the Council of Ministers” by driving forward a framework that will unlock investment opportunities and economic growth across the continent.
The delegations reached a consensus on a majority of the articles in the Draft Annex, setting the stage for its consideration and adoption by the Council of Ministers. The meeting also produced recommendations, highlighting the need for technical assistance to support the Protocol’s implementation.
The AfCFTA Secretariat extends its gratitude to the Government of Ethiopia for hosting the meeting and for its invaluable support to the delegates. This accomplishment reaffirms Africa’s commitment to creating an integrated investment environment, steering the continent towards shared prosperity.
