Western companies arrived in Africa during the colonial era. Agricultural enterprises came first, followed by mining companies. Today, businesses from across the world operate on the continent, from energy giants and telecommunication providers to major retail chains. Yet, many of these exploit weaknesses in local legislation to extract their profits. For example, most of the revenue from diamond sales ends up overseas.
Some African countries are trying to change this, demanding that foreign companies revise long-standing contracts. However, Professor Lumumba notes that, for real change to take place, a common legal framework is needed — one that puts the interests of the continent first. Will African countries be able to agree on new rules of the game and become more than merely just suppliers of raw materials for the West?
