African Legal Support Facility promotes investments at the 2018 African Business Law Firms Association Conference
Each year, members and supporters of African Business Law Firms Association (ABLFA) gather at the organization’s annual conference to explore and devise solutions to the emerging challenges preventing or limiting investments in the African region. As a sponsor of this year’s ABLFA Conference, the African Legal Support Facility (ALSF) shared lessons and best practices developed during project implementation.
Organized this year in Paris, France, on the theme, “Legal Certainty of Investments in Africa,” the 2018 ABLFA Conference attracted more than 100 African policy-makers, legal experts and government representatives. ABLFA President, Michel Brizoua-Bi and ALSF Director, Stephen Karangizi, officially opened the annual event alongside Marie-Aimée Peyron, President of the Paris Bar Association.
The conference, which took place on May 3-4, was a key event for those who were interested in securing their investments in Africa and creating partnerships between African and international law firms. In his presentation, Karangizi observed that “Africa’s possible development is significant, and its potentials are huge. However, to reap the benefits, the continent will need to recognize and avoid the common pitfalls, while appropriately evolving the relevant legal and fiscal frameworks to improve the investment climate.” For his part, Souley Amadou of the African Development Bank’s Legal Department highlighted the role of the Bank in facilitating investment in Africa through the financing of private-sector projects and ensuring that the projects are legally sound.
The conference was comprised of high-level panel discussions exploring obstacles to foreign investments in the African region. To formulate meaningful solutions to persisting problems in the area of foreign investments, special care was taken to make a distinction between challenges in the Anglophone context and those of Francophone Africa. To further enrich the deliberations, separate panel discussions were held to share experiences of investing in North and Southern Africa.
The African Legal Support Facility is an international organization hosted by the African Development Bank Group. The Facility is dedicated to providing legal advice and technical assistance to African countries in their negotiation of complex commercial transactions, creditor litigation and other related sovereign transactions. The ALSF also develops and proposes innovative tools for capacity building and knowledge management. www.aflsf.org
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. www.afdb.org