Neoliberalism

Olakpe's scholarly contribution is a thought-provoking addition to the discourse on South-South migration. Through an in-depth conceptual and methodological analysis of the law from below and Third World Approaches to International Law (TWAIL), Olakpe unveils the intricate layers of migration dynamics. Departing from the conventional south-north migration paradigm, this book unpacks the nuances of south-south migration through a critical and transformative lens, reorienting the dialogue towards the subtleties that characterize this unique migration pattern. At the heart of Olakpe's approach lies her innovative utilization of case studies and legal ethnographies in Nigeria and China. These studies serve as a lens through which she illuminates the experiences of marginalized subaltern communities, offering a critique of international law's role within the context of South-South migrations.

The Academic Forum is an inclusive and accessible forum that brings together undergraduate and graduate students as well as early career researchers from across the world interested in international economic law issues as they relate to Africa and the Global South. Its goals are to encourage and build core research skills in teaching, research, theory, methods and writing; developing content for Afronomicslaw.org and where possible to encourage authors to submit to the African Journal of International Economic Law; holding workshops and masterclasses on core research skills in teaching, research, theory, methods and writing; and organizing annual poster/essay competitions on international economic law issues.

This blog post largely derives from a recent study entitled Bank of Zambia’s Autonomy Amidst Political Turnovers in Zambia, which investigated whether BOZ could effectively deliver on its mandate given the context of political interferences arising out of Zambia’s competitive clientelist democracy. That study concluded that, over time, BOZ had enshrined its independence in the law and had been quite effective at delivering on its mandate to stabilize prices and develop the financial system as required in a market economy.

It is proposed that South Africa as a developing country needs to have a central bank that has the semblance of a developmental central bank, and that takes care of consumers, different than the orthodox, neoliberal central bank that focuses on price stability and lowering of inflation and expect market forces to protect consumers. The Twin Peaks model of financial regulation where the central bank is explicitly appointed as the guardian of financial stability, could be a small step on the way of the SARB becoming such semblance of a developmental central bank.

This opinion piece aims to ascertain the extent to which the new Bank of Namibia Act 1 of 2020 (the Act) imports the neoliberal rules of central banking and it also assesses the level of departure, if any, from the conventional central bank mandates couched in law. The piece further highlights the domestication of the rules of the Central Bank Model Law adopted by the Southern African Development Community (SADC).

The ailing financial sector in Ghana necessitated an immediate pragmatic response to realign and reposition the financial sector back to its glory days. Depositors’ monies are mostly squandered or bolted with by directors and managers of financial institutions in Ghana. The recent clean-up in the financial sector has awakened uproars from some Ghanaians, notable amongst them are the customers of the affected financial institutions. While some vowed to boycott the 2020 elections, others instituted a civil action in court on the grounds of negligence against the central bank. It will be intriguing to know the legal principles for adjudicating this matter in the high court, whether private law principles under tort law (on the basis of which the customers have sued BoG), or public law principles under administrative law (which seems more appropriate for a public body). With the extent of insolvency, licensing irregularities and insufficient minimum capital requirements among financial institutions, the greatest fatherly role played by BoG was not to spare the rod to spoil the child in its quest to salvage the financial sector.

May 24, 2020

It is the segment of the news bulletin that many viewers skip, the section of the newspaper that many readers skim, the panel of the law conference during which many listeners in the audience yarn. And yet few things affect our ability to eke out a living as drastically as central banking.

The volume's contribution do well in facilitating the reader's understanding of the broad range of legal and practical intricacies of land reform and land rights, including chapters that examine commercial incentives for land vis-a-vis the security of rural land rights (Chapter 4 by Lorenzo Cotula), shifting policy paradigm (Chapter 7 by Howard Stein) property transfer taxes (Chapter 8 by Riel Franzsen), and the role of women in land reform (Chapter 11 by Eugene Chigbu) among other topics.

Development, particularly in developing countries, in the current context requires thinking about how multiple global crises are interlinked, their impact on development prospects, and the narrative framing needed to generate positive and progressive systemic policy change.

The laws of the international trading regimes are crafted, not by Africans, but by economists and policymakers in the Global North, with the interest of the elites of the Global North at the heart of any prescriptions. That is why neoliberalism and the “free market” is sold as the panacea for Africa’s developmental impasse.