Unlocking sustainable development: How foreign direct investment shapes Africa’s future
Posted: 15 August, 2024 Filed under: Elim Shanko, Khushi Agrawal | Tags: 2030 Agenda, 2063 Agenda, African Continental Free Trade Area, climate change, developing countries, environmental degradation, environmental protection, FDI, fighting poverty, Foreign direct investment, global plan, global well-being, human rights abuses, international cooperation, reducing inequalities, social inclusion, sustainable development, Sustainable Development Goals Leave a comment |
Author: Khushi Agrawal Intern, RA Consulting |
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Author: Elim Shanko Sustainable development consultant, RA Consulting |
Introduction
Foreign direct investment (FDI) is a critical method of shaping economic growth and development for developing countries.[1] While instances of cross-border capital flow aim to foster improvement, it is becoming increasingly apparent that FDI is not the significant beneficiary of sustainable development it was originally believed to be.[2] The United Nations’ 2030 Agenda of Sustainable Development Goals (SDGs) are nowhere near their desired or planned standings.[3]
This article critically examines the current state of FDI and its effects on Africa’s developing economy, uncovers the challenges foreign investment is facing and searches for potential steps forward in achieving sustainability goals.
The impact of trade-based money laundering on economic growth & development
Posted: 10 July, 2024 Filed under: Nasubila Ng’ambi, Yeabsira Teferi | Tags: AfCFTA, Africa, African Continental Free Trade Area, cultural development, economic development, Global Financial Integrity, illicit financial flows, right to economic development, Sustainable Development Goals, TBML, trade based money laundering Leave a comment
Author: Nasubila Ng’ambi
LLB (cum laude) Nelson Mandela University
Introduction
The African Continental Free Trade Area (AfCFTA) is the African Union’s flagship regional economic integration project.[1] The AfCFTA aspires to lift 30 million people out of extreme poverty and to increase Africa’s income by $450 billion by 2035.[2] These goals are set to give effect to both Agenda 2063 and the UN’s sustainable development goals (SDGS).[3] However, these audacious goals are not without challenge as there are numerous risks associated with free trade areas (FTA) such as trade based money laundering (TBML). This article seeks to explore the implications of TBML on economic growth and development. Further, the article will highlight the need for an effective framework to ensure that TBML is mitigated.
AfricLaw 