Bad bilateral trade deals haunting Africa

World Bank arbitration court has ordered Tanzania to pay $185 million to Standard Chartered for breaching an energy contract. PHOTO | REUTERS

African countries are being urged to review and terminate all existing bilateral investment treaties, avoid signing new ones and to also remove themselves from the international investment arbitration system.

According to Nicomedes Kajungu, secretary general of the National Union of Mines and Energy Workers of Tanzania (Numet), the growing number of legal suits that multinational companies are bringing against Tanzania and other African countries is a major concern.