Addis Ababa, Ethiopia, 15 October 2019: The ALSF attended the Centre for Energy, Petroleum and Mineral Law and Policy Extractives Hub (The Extractives Hub) Phase II launch event under the theme “Investment and Governance in the Extractives Sector”. The Facility highlighted the current trends of foreign direct investment trends in the extractives sector in Africa.
The Extractives Hub is a multiannual project funded by the UK Department for International Development (DFID) as part of the programme on Releasing the Transformation potential of Extractives for Economic Development (RTPEED). The second phase of the project began in April 2019 with the designation of the Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP) at the University of Dundee as the manager and host of the Extractives Hub. The Extractives Hub has an enhanced-governance focus on extractives and green energy transition, supporting governance in DFID focus countries. Professor Peter Cameron, CEPMLP Director and Extractives Hub Team Leader and Dr. Ernesto Bonafe, CEPMLP Extractives Hub Project Manager were present at the launch.
Mr. Francis Omesa, Legal Counsel, Institutional Division of the African Legal Support Facility made a presentation titled “Foreign Direct Investment as a Tool to Promote Good Governance”. There is increased regulation of foreign direct investment by governments of source countries; host countries in Africa are working on improving the quality of their legal and regulatory framework to attract foreign direct investment. The presentation highlighted the African Legal Support Facility’s work in supporting African governments to improve their legal and regulatory frameworks to govern their extractive industries in an environmentally sustainable manner.
In his closing remarks, Professor Peter Cameron highlighted the intention of the Extractives Hub to collaborate with the African Legal Support Facility in this endeavor of improving the governance of the extractives industry by African governments.
About the ALSF
Created by the African Development Bank in 2010, the ALSF supports governments in negotiating complex commercial transactions, providing legal and technical assistance in public-private partnership projects across the oil and gas, mining and energy sectors, and covering sovereign debt issues and creditor litigation.