ECOWAS Common Investment Code

The ECOWAS Common Investments Code mark the fulfilment of the Common market of investment within West Africa. It is designed to operationalize the ECOWAS Supplementary Act adopting Community Rules on Investments and Modalities for their Implementation (adopted in 2008), ahead to the harmonization of national investment policies and regimes for greater investment climate in the region.

The Common Investment Code is made of rules and principles that govern the admission of investments within the community and provides  guidelines for their exploitation.

The ECOWAS Investment Code provides the legal framework for treatment and operation of investment in the ECOWAS Common Investment Market (ECIM) and for implementation of the policy. In particular, the  code aligns the Member States into a single economic space and provides

 

1. a clear definition of investment and investors that qualify for benefits under the code. 

 

1. a full-fledged set of provisions aimed at providing policy space for Member States in the operation of investment in their countries and within the region.

 

1. a wide set of sectoral policy tools for economic and social development, poverty reduction, and for the advancement of the ECOWAS integration agenda.

 

1. an innovative dispute settlement arrangement, aligned with the current development on investment governance policy discussions and reform process.

 

1. a mechanism for implementation of the code by Member States in line with their respective national interests.

 

1. full coherence with the continental framework on investment as envisaged in the African Continental Free Trade Area (AfCFTA).