African legal sector granted of eleven Billions Fcfa

The African Development Bank has allocated USD 22 million to improve the continent’s legal expertise, assisting African countries’ access to justice when dealing with international investors. According to the online website africanlawbusiness.com, the African Legal Support Facility (ALSF) has been granted USD 22 million, to develop the legal sectors of African nations by its parent organisation, the African Development Bank (AfDB). The funding will be used “to support legal advisory and capacity building initiatives in fragile states”, according to a statement from the ALSF. The ALSF and the transitional support department of the AfDB will collaborate on the project. The ALSF is seeking to strengthen legal expertise in relation to issues such as managing relationships with so-called vulture funds, private equity funds that invest in debt likely to be in imminent default, with which African countries later engage in enforcement litigation or investor-state arbitration when financial default has occurred. By providing technical assistance, as well as offering advice and support in expanding the legal capacities of countries in transition, the ASLF will ensure that nation states have greater equality against legally well-resourced funds instructing top law firms. The provision of stronger legal services, in turn helps vulnerable countries maximise their resources for economic development and social progress. The investment goes hand-in-hand with the bank’s strategy of addressing fragility and building resilience in Africa, with the aim of building resilience, stability and capability in the region. Stephen Karangizi, director of the ALSF, said in the statement: “Strengthened institutions are a catalyst for strong resilient governments. We recognize that there is a great need in the extractive sector for countries in fragile situation to anchor governance related standards as well as incorporate the broader questions of technical capacity as a facilitator of good resource governance.” Director of the AfDB’s transitional support department, Sibry Tapsoba, added: “This joint initiative provides us with an opportunity to effectively deliver support required by our regional member countries. Through regular coordination of institutional work programs and activities, we are in a position to achieve high efficiency and impact to address the challenge of fragility on the continent.” Negotiations between international investors and African governments are often one-sided in favour of foreign businesses, due to their wealth and access to high-end legal advice. The ALSF was established in 2010 with the aim of levelling the playing field by providing legal advice, technical assistance and improving the quality of legal expertise available to African countries. This includes funding access to legal counsel for these states. Such advice will complement existing pro bono initiatives such as London’s Advocates for International Development, which has provided free legal assistance on African development issues from legal partners such as Allen & Overy, Linklaters, Mayer Brown and Brick Court Chambers, and African firms like Nigeria’s Kentuadei Adefe.