The African Renaissance and International Investment Law

Is the twenty-first century destined to be ‘the African Century’? Certainly African intellectuals and policymakers have called for an African Renaissance. The concept conveys the idea that the African continent will overcome current challenges to achieve cultural, political, and economic renewal. It encourages African peoples to take pride in their rich cultural heritage, rebuild the economy, and position Africa as a significant player in international affairs. Can the African Renaissance be realized? What role, if any, can foreign direct investment play in supporting this goal? What kind of international investment law regime can emerge under the African Renaissance framework? This introductory chapter emphasizes that prosperity requires neither complete self-reliance nor unbridled foreign capital, but rather appropriately governed foreign investment. The chapter outlines how African states are innovatively reforming their international investment agreements to prioritize sustainable development.