Developing an effective Africa IP plan
Can Africa in 2021 still be compared to the 1966 Spaghetti Western, “The Good, the Bad and the Ugly”? And, if so, where do we find these attributes in the various national and regional intellectual property (IP) regimes?
Fortunately, the days of referring to Africa only in negative terms when it comes to IP protection are long gone. The continent is seen as brimming with business opportunities, and interest in its economic potential comes from all over the world. Economic growth is closely associated with progressive IP systems, which must be geared towards fostering technology, industrial development, and innovation.
Key sectors, including construction, financial services, food, agriprocessing, healthcare, manufacturing and retail, present attractive investment opportunities for global and smaller corporations.
Doing business in Africa can be challenging, and the red tape and administrative headaches associated with navigating its 54 countries often seem daunting to new entrants into the market. It is hoped that the African Continental Free Trade Agreement (AfCFTA) will play a big role in highlighting the “good” of Africa. Following delays in 2020, AfCFTA came into force at the beginning of 2021 and, if fully successful, will create the world’s largest common market, containing more than 1.2 billion consumers—which is, according to the World Bank, hoped to increase African trade by more than 50% in the first five years and by 80% in 2035.
In line with these exciting trading opportunities, the IP laws of Africa’s various countries have been rejuvenated in recent years and, in many cases, have undergone a complete overhaul to make provision for compliance with obligations under international treaties and to meet internationally accepted standards—all part of what makes investing in Africa a good idea.
While there have been promising developments on the IP front, there remain a few “ugly” pitfalls which IP owners should be aware of as they navigate the complex IP landscape on the continent.
