Civil society organisations (CSOs), grassroots movements, think tanks, and advocacy groups working on investment and development related issues are demanding reforms in the frameworks of international investment agreements and policies that governments in East Africa, and Africa sign with international organisations.
These agreements which comprise minerals, oil exploration and other related projects have led African countries into huge losses at the advantage of multinational institutions and companies.
The call was made as Civil society organisations convened – a Civil Society Forum in Entebbe, Uganda, united under the theme “Aligning Investment Policy Frameworks to Climate and Sustainable Development Goals”.
Through a six point declaration they claim that the frameworks must advance human rights, gender, climate and environmental justice, sustainable economic and industrial development . They further claim many agreements have clouses of leading to exploitation and inequality rooted in unbalanced economic models and profit maximization, Investment is essential for tackling global challenges, from mitigating and adapting to the impacts of climate change to fostering inclusive and resilient economies.
Ms. Jane Nalunga, flanked by a panel of sister organisations, says these agreements disproportionately prioritize the profits of multinational corporations (MNCs) at the expense of Economic, Social, Cultural, and Environmental Rights. As a result, they have entrenched countries in a cycle of extractivism, environmental degradation, and economic dependency, undermining efforts to achieve sustainable and equitable development.
The Panel comprised of Ms. Esther Kisembo, Program Coordinator, ActionAid Uganda ,Mr. Fernando Hernandez Espino, Trade and Investment Policy Expert, Both ENDS ,Ms. Jane Nalunga, Executive Director, SEATINI-Uganda, Dr. Bart-Jaap Verbeek, Senior Research, SOMO,Dr. Rob Davies Former Minister of Trade and Industry of South Africa, Academic Economist and Negotiator and Ms. Olivia Costa, Executive Director, Tanzania Trade and Investment Coalition
