Arbitration in Africa – Managing Risks in a Growing Market
Today, many areas of African economy are still growing despite considerable drawbacks due to the oil crisis. Besides the industries related to the continent's natural resources, especially infrastructure projects, banking and telecommunications are on the rise. In these areas and many others, Africa has a large untapped market with relatively low penetration and great potential for investment and business.
Yet such opportunities also involve risks. So it follows that investors and businesses are increasingly looking for legal certainty to protect their interests. Most investors and businesses are still reluctant to rely on local legislation and courts. Arbitration is, thus, the most attractive option.