Afriland First Group SA and others v. Democratic Republic of the Congo (ICSID Case No. ARB/23/38)

Procedural record

1. 16 July 2025Arbitration

   16 July 2025Arbitration

   Decision on the Bifurcated Issue

   International Centre for Settlement of Investment Disputes

   Decision summary

   The Tribunal rejected the bifurcated jurisdictional objection, held that Afriland First Group SA has standing to act as a claimant, and ordered the proceedings to continue between the four claimants and the Democratic Republic of the Congo. It deferred other decisions, including on costs; the decisions were unanimous except for the standing decision, which was adopted by majority.

   Participants

   Afriland First Group SA

   Afriland First Bank SA

   Joseph Toubi

   Paul Kammogne Fokam

   Democratic Republic of the Congo

   International Centre for Settlement of Investment Disputes

   Arbitrator

   Juan Fernandez-Armesto

   Arbitrator

   Henri C. Alvarez

   Arbitrator

   Alexis Mourre

   Tribunal secretary

   Laura Bergamini

   Tribunal secretary

   Francisca Seara Cardoso

   Authorities cited

   10

   • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
     statute
   • Democratic Republic of the Congo Investment Code, Law No. 004/2002 of 21 February 2002 (Law No. 004/2002 of 21 February 2002)
     statute
   • Democratic Republic of the Congo Banking Law, Law No. 003/2002 of 2 February 2002 (Law No. 003/2002 of 2 February 2002)
     statute
   • Democratic Republic of the Congo Prime Minister's Decree No. 10/16 of 22 April 2010 (Decree No. 10/16 of 22 April 2010)
     statute
   • Democratic Republic of the Congo Prime Minister's Decree No. 12/046 of 1 November 2012 (Decree No. 12/046 of 1 November 2012)
     statute
   • Amco Asia Corporation and others v. Republic of Indonesia (ICSID Case No. ARB/81/1, Decision on Jurisdiction, 25 September 1983)
     case law
   • Antoine Abou Lahoud and Leila Bounafeh-Abou Lahoud v. Democratic Republic of the Congo (ICSID Case No. ARB/10/4, Award, 7 February 2014)
     case law
   • Societe Resort Company Invest Abidjan, Stanilas Citirici, and Gerard Bot v. Republic of Cote d'Ivoire (ICSID Case No. ARB/16/11, Decision on Jurisdiction, 1 August 2017)
     case law
   • Southern Pacific Properties (Middle East) Limited v. Arab Republic of Egypt (ICSID Case No. ARB/84/3, Award, 20 May 1992)
     case law
   • Holiday Inns S.A. and others v. Morocco (ICSID Case No. ARB/72/1, Decision on Jurisdiction, 1 July 1973)
     case law