Minister of Justice, Titus Mvalo, says lack of information on arbitration centres in Africa is a big challenge.
Mvalo was speaking during the opening of Malawi International Arbitration Centre (MIAC) Symposium in Lilongwe.
“Europe and Asia are leading the way but Africa is lagging behind even in establishing arbitration centres, it is commendable that Malawi Law Society and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) established the private owned Malawi International Arbitration Centre in 2023,” he said.
The minister went on to highlight other challenges Africa is facing such as perceived corruption due to poor reputation on the vice and size of market for economic activities is also small.
The arbitration centre seeks to establish and maintain a private sector-led neutral and independent facility for the resolution or settlement of commercial, investment and other disputes by arbitration and mediation rather than going to court.
Meanwhile, a website for MIAC has been launched during the symposium.
