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Ghana Aims to Become a Regional Hub for ADR

July 18, 2024
Prince Agyapongby Prince Agyapong
in General News
0
Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana

Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana

In a significant move that underscores Ghana’s commitment to enhancing its legal framework and business environment, President Nana Addo Dankwa Akufo-Addo has urged Alternative Dispute Resolution (ADR) practitioners to strive towards making Ghana the regional hub for settling disputes via ADR.

This vision, if realized, will position Ghana at the forefront of legal innovation in Africa, attracting international businesses and investors seeking efficient and effective dispute-resolution mechanisms. By urging ADR practitioners to enhance their expertise and establish Ghana as a preferred venue for resolving disputes, President Akufo-Addo not only underscores the nation’s potential but also its readiness to embrace innovative conflict resolution mechanisms.

“The establishment of an ADR centre… will provide a viable opportunity for multi-million-dollar commercial disputes and cases involving the use of the state’s valuable natural resources to be resolved in Ghana in a very wholesome environment.”

Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana

This vision, coupled with strong democratic credentials, a liberal economy, and a conducive business environment, positions Ghana advantageously in the race to become the arbitration nerve center in Africa, particularly West Africa.

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Ghana’s judiciary, known for its integrity and pro-arbitration stance, further bolsters this ambition. The nation’s strong judicial system and pro-arbitration courts are critical assets that inspire confidence among international investors and neighboring countries.

As President Akufo-Addo aptly put it, “Our neighboring countries should find Ghana, a safe haven for the resolution of disputes, just as they do for investment.” This assurance is crucial in attracting cross-border commercial disputes and making Ghana a hub for international arbitration.

The ADR center is expected to serve as a catalyst for sharpening the skills of ADR practitioners, particularly members of the Ghana Bar Association.

This professional development will be crucial in ensuring that practitioners are well-equipped to handle complex commercial disputes efficiently and effectively. The emphasis on skill enhancement is a clear indication that Ghana is serious about maintaining high standards in its legal practices.

Benefits of ADR Mechanisms

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President Akufo-Addo has rightly highlighted the benefits of ADR mechanisms such as mediation, arbitration, and negotiation.

ADR can help to reduce the costs associated with legal proceedings, making justice more accessible to a wider range of individuals and businesses. Litigation can be expensive, with legal fees, court costs, and other expenses quickly adding up. ADR offers a more cost-effective alternative, allowing parties to resolve their disputes without the need for lengthy court proceedings.

President Akufo-Addo further highlighted this by stating, “ADR mechanisms… provide parties with the opportunity to resolve their disputes, amicably preserving relationships and fostering a culture of dialogue and understanding.”

“The Ghana Bar Association, the Ghana Investment Promotion Center, and the Private Enterprise Federation have all called for the introduction of Alternative Dispute Resolution mechanisms, particularly arbitration, to alleviate the congestion in the courts and to enhance expertise and specialization in certain areas of the law.”

Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana

The inauguration of the Governing Board of the Alternative Resolution Centre, chaired by the respected retired Supreme Court Judge, Justice Victor Jones Mawulom Dotse, marks a pivotal moment in Ghana’s legal history.

The board comprises distinguished members from various professional backgrounds, including the Ghana Chamber of Commerce, the Ghana Bar Association, the Ghana Institute of Surveyors, the Judiciary, the Institute of Chartered Accountants, and Organized Labour.

This diverse composition ensures that the board has the expertise and perspective needed to oversee the ADR center’s operations effectively.

Ghana’s ambition to become a regional hub for ADR is both timely and strategic. By establishing a robust framework for ADR, the nation not only enhances its legal infrastructure but also strengthens its appeal to international businesses and investors.

The ADR center, supported by a strong judicial system and a pro-business environment, is poised to propel Ghana to the forefront of dispute resolution in Africa.

READ ALSO: GSE Reaches Historic Milestone with Over GHS 90 Billion Market Capitalization

Tags: ADR MechanismsAlternative Dispute Resolution (ADR)Ghana Chamber of CommerceMediationNegotiation
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