By Tajudeen Adebanjo

The Conference of Chartered Institute of Arbitrators (CIArb) has identified the dearth of knowledge and trust deficit as part of the bane of African Continental Free Trade Area Agreement, (AfCFTA).

These were pointed out in a statement at the end of the arbitrators’ conference.

It was signed by the Nigerian Branch Chairman, Mr. Tunde Busari (SAN) and Conference Organising Committee Chairman, Mr. Yakubu Chonoko Maikyari, (SAN).

The Institute said practitioners must acquire knowledge on how to penetrate the mechanisms of law in the variety of areas and where commercial parties do agree to contract.

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The arbitrators called for continuous training of judges and lawyers to be familiar with rules and importance of Alternative Disputes Resolution (ADR) as a social and economic infrastructure.

The coming into effect of the AfCFTA, the group said, was a potential of gaining global recognition.

“The AfCFTA provides an opportunity for African states to refocus the arbitration global framework by removing structures that project a neo-colonial bias, focusing on capacity building in terms of our negotiating power and capacity of our arbitration practitioners,” they said.

The Institute recognised the needs for African countries to domesticate dispute resolution mechanisms.

It said: “The AfCFTA dispute resolution mechanisms should involve a regional centre to raise predictability, harmony and confidence in these mechanisms so that state parties willingly submit and utilize the dispute resolution mechanisms with the purpose of making Africa an arbitration friendly seat.”