In December 2021, African negotiators began a year-long process to develop the text of the Investment Protocol, culminating in a final version that defines the protection, promotion, and facilitation of intra-African investment. Phase I negotiations on trade in goods and services have been completed, while Phase II, which includes the Investment Protocol, the Intellectual Property Protocol, and the Competition Protocol, is underway. A further Phase III will cover negotiations on a protocol on electronic commerce.
The draft Protocol on Investment to the Agreement Establishing the African Continental Free Trade Area (AfCFTA) was concluded in October 2022 and adopted at ministerial level by the AfCFTA Council of Ministers. The text will now be submitted to the Assembly of Heads of State for consideration and adoption at its next ordinary session, scheduled for February 2023.
This is a decisive moment for the continent, as the protocol reflects and indicates a common African position on a number of key areas related to investment governance.