Bilateral Investment Treaties and Regional Investment Regulation in Africa: Towards a Continental Investment Area?

Abstract

This article addresses the issue of international investment regulation with a bearing on Africa. It reviews the bilateral investment treaties (BITs) which have been signed by African countries and characterizes intra-African BITs. It also discusses regional investment regulation in the continent and its elements for harmonizing the cluttered ‘spaghetti-bowl’ of investment regimes. Based on the findings and the existing regional integration agenda on investment, the article discusses the viability of an African Continental Investment Area as an alternative to the existing investment regime, in favour of more harmonized development that builds on existing institutions and processes.