ICC looking to drive investments into Africa
The International Chamber of Commerce (ICC) is hoping to address the challenges in building efficient dispute resolution mechanisms in Africa and how it affects economies around the continent at its 2nd African Regional Arbitration Conference in Lagos.
The event, which holds from May 14-17, 2017 is titled, ‘Arbitration as a Catalyst For Economic Growth’ and would focus on the need to create a conducive environment for the practice of arbitration not only in Nigeria but in Africa.
Speaking about the programme for the conference, the 2017 conference chair, Boma Ozobia expressed delight at the theme for this year’s event.
She said, “It is so significant to where we are as a country, and where we are as a continent. Today, dispute resolution is the key that unlocks investments. It is at the very heart of all we do in business, be it local or foreign investments. Disputes are inimical to business, investments and ultimately, economic growth, and where it arises, must be resolved speedily.
Buttressing the importance of arbitration to economic growth, Ozobia also said that the need to resolve disputes expeditiously, goes beyond the lawyer, the arbitrator or the disputants, as it goes as far as the well being of all parties and the economy as a whole.
She urged potential participants at this conference, to expect an engaging, rich, diverse, deep, informative and far-reaching conference, where a carefully selected panel of speakers and discussants will be x-raying various topical issues as it relates to commerce, dispute resolution, law, the economy, etc.
Also driving home, the relevance of the 2017 conference theme, another member of the planning committee, Chief Anthony Idigbe, SAN spoke of the need to have a clear, efficient dispute resolution system/laws not just in Nigeria but all around Africa.
“Any system that can boast of a pool of skilled arbitrators, is likely to attract the attention of the world; and where such a jurisdiction or country has laws that favourable to arbitration, such a jurisdiction would be greatly appealing to investors and dispute resolution experts globally.”
According to him, the effects of these on the economy, particularly at a time as this, would form part of the discourse at the 2017 conference to the benefits of participants.
Throwing some light on the practice of arbitration and arbitrators, Idigbe explained that arbitrators are not necessarily lawyers, as not every lawyer is also an arbitrator. An arbitrator can be an engineer, a media personality, etc.
Also speaking about the conference, the Chair of the publicity committee, Josephine Akinwunmi detailed some highpoints of the conference.
According to her, the conference which will feature both plenary and breakout sessions, will touch on various issues critical to the development of arbitration laws and practices in Nigeria. This will include, ‘the basics in building an arbitration practice; Barriers to Entry; Reforming Arbitration Law and Practice in Africa; Investors – State Disputes; Arbitrability; The Rising Cost of Arbitration; The Increasing Complexities of the Rules; How to be an Administrative Secretary in an Arbitration; amongst other things.
Akinwumi maintained that the 2017 conference promises a more rewarding outing than the last conference.
Other members of the planning committee include, Funke Adekoya, SAN, who is the Chair of the conference technical committee, Dorothy Ufot, SAN, Adedoyin Rhodes-Vivour, Tunde Fagbohunlu, SAN, Chikwendu Madumere, and several notable names in the industry.
With plans in place for a successful conference, members of the CPC are confident that the 2017 conference will be thoroughly impactful, highly instructive and a great networking event for business people.
Some registered delegates have so far commended the conference programme and theme for this year, noting that it could not have come at a more relevant time when the nation was restructuring its systems for economic growth and development
The International Chamber of Commerce (ICC), whose headquarters is in Paris, focuses primarily on commercial arbitrations and though a lot of its operations are carried out by the Nigerian committee, its international status and structure sees it conducting arbitrations in various parts of the world, including Nigeria.
Members and other participants made up of arbitrators, mediators, legal practitioners, businessmen and women and corporate bodies, will converge from jurisdictions across Africa to attend the even in Lagos, Nigeria. So far, several local and international organisations have indicated interests in this year’s conference.
Guests expected at this conference, include the president of the ICC court in Paris and representatives of the LCIA in Mauritius.