This article examines the rejection of the International Investor–State dispute (ISDS) system across the African continent and its replacement with a range of domestic and regional alternatives. It assesses the advantages of the two principal options for African countries: retaining the current ISDS system, or using local courts and regional tribunals. To this end, the dispute resolution mechanisms proposed in the Pan-African Investment Code, the 2016 Southern African Development Community Finance and Investment Protocol, the SADC model BIT, the Common Market for Eastern and Southern Africa, Economic Community of West African States and East African Community investment agreements and domestic approaches are critically examined. The argument is then advanced that African countries should not abandon ISDS because replacing it with isolated domestic or regional mechanisms does not reduce any of the risks. In particular, for foreign investors, the risk associated with the adjudication of investment disputes in potentially biased, politically influenced domestic courts may prove too high. African host nations, in turn, risk sending out the wrong message concerning their commitment to the protection of foreign investments. Instead of veering off course, perhaps the time has come for African States to display the political will to remain within the ISDS system and contribute to its reform from within.

中文翻译：

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评估非洲区域投资工具和投资者-国家争端解决

本文探讨了整个非洲大陆对国际投资者-国家争端 (ISDS) 系统的拒绝以及用一系列国内和区域替代方案取而代之的情况。它评估了非洲国家两种主要选择的优势：保留当前的 ​​ISDS 系统，或使用当地法院和地区法庭。为此，泛非投资法典、2016 年南部非洲发展共同体金融和投资议定书、SADC 双边投资协定范本、东部和南部非洲共同市场、西非国家经济共同体和东非洲共同体投资协议和国内方法受到严格审查。然后提出了非洲国家不应放弃 ISDS 的论点，因为用孤立的国内或区域机制取而代之并不能降低任何风险。尤其是对于外国投资者而言，在可能有偏见、受政治影响的国内法院裁决投资纠纷的风险可能被证明过高。反过来，非洲东道国可能会发出有关其保护外国投资承诺的错误信息。与其偏离方向，或许非洲国家现在应该表现出政治意愿，留在 ISDS 体系内，并从内部为其改革做出贡献。在可能有偏见、受政治影响的国内法院裁决投资纠纷的相关风险可能被证明过高。反过来，非洲东道国可能会发出有关其保护外国投资承诺的错误信息。与其偏离方向，或许非洲国家现在应该表现出政治意愿，留在 ISDS 体系内，并从内部为其改革做出贡献。在可能有偏见、受政治影响的国内法院裁决投资纠纷的相关风险可能被证明过高。反过来，非洲东道国可能会发出有关其保护外国投资承诺的错误信息。与其偏离方向，或许非洲国家现在应该表现出政治意愿，留在 ISDS 体系内，并从内部为其改革做出贡献。