Angola, a country with a civil justice system regarded by many as being slow and out of date, has taken a positive step towards changing this perception by acceding to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
The Government of Angola endorsed the ratification of the New York Convention on 12 August 2016. Once brought into effect, Angola will become the 157th contracting state to the Convention.
Angola is neither a member of the International Centre for the Settlement of Investment Disputes (ICSID), nor the Organisation pour I’Harmonisation en Afrique du Droit des Affaires (OHADA). As such, its accession to the New York Convention will be welcomed by parties seeking to invest or do business with entities registered in Angola, a country seeking to attract diversified foreign investment (outside of the oil industry).