When Foreign Investment and Its Dispute Mechanisms Work against African Economic Advancement: Revenue and Sustainable Development Implications

Abstract

This article explores the importance of the disclosure of beneficial ownership in states revenue collection efforts and its implications for sustainable development. It critically  analyses the concealment of beneficial ownership and investment tribunals uncritical acceptance of jurisdiction in such cases. The article suggests that this uncritical acceptance     increases the risk of money laundering and could potentially breach fundamental principles of transnational policy. These tribunals have also been hesitant to consider the investors  failure to pay taxes when awarding damages. In so doing, the tribunal offers a powerful enforcement tool for investors but leaves the state with only limited recourse.