PSF to launch international arbitration center by September
In a bid to ensure an effective resolution of commercial disputes, the Rwandan private sector federation is in the process to establish an arbitration center, the Kigali International Arbitration Center (KIAC), which should be operational by September.
The center will focus on providing dispute-resolution services to domestic as well as foreign parties in the fields of finance, trade, investment, insurance, construction and real estates, among others.
The idea of establishing the center resulted from the parliament recommendations in 2009 on a study on the promotion of arbitration and alternative modes of commercial conflict resolution. It is an attempt to build a conflict-resolution system by the people concerned themselves. “An approach which is similar to abunzi system, an informal justice system at the village level based on a traditional form of justice,” says Roger Munyampenda, the CEO of PSF.
According to Munyampenda, the new approach has many advantages for businesspeople.
“Through this process, we expect a reduction of dispute resolution costs, it will be less time consuming, and more effective and efficient,” Munyampenda explains. “Entrepreneurs will themselves solve their cases instead of taking them to national courts.”
PSF is proving training to lawyers and other specialists from various fields such as architects or experts in evaluation of projects in order to obtain certification. So far 40 candidates are confirmed to start training this month.
Yet the center will not only have local competence, but also international one, given that 3 out of 7 of its executive board members will come from abroad.
“We expect more foreign partners and we’ve contacted some of them, but this requires working hard to improve our standards in areas such as combating corruption to ensure credibility,” Munyampenda explains, adding that campaigns will be conducted countrywide and in the region to explain to the business community the importance and the role of the center in the development of their businesses.
- Kigali arbitration center to help resolve business disputes
- Commercial courts to improve business environment