An arbitration decision was made public on December 22, 2023, regarding the Banque Franco-Tunisienne (BFT) case, filed with the International Centre for Settlement of Investment Disputes (ICSID), and opposing the Tunisian State to ABCI Investments Limited. According to the verdict, Tunisia is ordered to pay the sum of TND 343,673,000, with an estimated pre-award interest rate of 7.2% per annum from February 26, 2007 until the date of publication of the verdict, i.e. December 22, 2023. The annual interest rate after the arbitration ruling stands at 7.2% from the date of publication of the verdict until the amount is paid in full, due to the illegal expropriation of the company's shares in BFT dating from July 1989. Ali Abbès, in charge of the State's litigation department and responsible for the case, said that the Tunisian State should pay the sum of $705,693.62 thousand on behalf of ABCI as charges and expenses of the ICSID's administrative body. He told TAP that the arbitration body had rejected the ot her claims of the various sides, pointing out that ABCI had claimed the sum of $12.6 billion, i.e. more than TND 37 billion. The amount mentioned in the verdict accounts for 0.003% of the sum claimed by ABCI, he pointed out. This arbitration dispute is considered to be the longest in the history of arbitration, the same source added, pointing out that the case dates back to 1982 and has only been resolved in 2023. This decision is the fruit of the various efforts exerted by the many stakeholders in the case, notably the body in charge of the State's litigation department, which has handled the case with professionalism, he concluded. Source: Agence Tunis Afrique Presse Shoppers are seen walking from Roxy Cinema through to Tudu to Makola and Kantamanto Market as a result of the heavy traffic build up. Sitting in the trotro is going to be a very frustrating exercise as the Sun, with its heat, gives only one option-a walk through the forest of shops to pick a few things for the Christmas. The continuous humming of sound, fast movement of people and goods, including 'Christmas goats' and 'fowls' offer a lively spectacle of Makola and Kantamanto Street or Market in the heart of Accra's business district, a few hours to Christmas. The surge in human traffic adds an extra layer of excitement as shoppers navigate through bustling crowds to complete their festive purchases. The festive period, however, come with its share of challenges. Price fluctuations are observed as demand peaks during the final shopping hours, prompting shoppers to exercise caution, double-check prices, and engage in negotiations with traders who feel the pressure of the going down of the Sun - closing t ime. Cash transactions take precedence during the bustling period, with many traders favouring the efficiency of cash over mobile money. This preference, while expediting transactions, highlights the need for shoppers to be flexible and adapt to the evolving dynamics of the holiday rush.Security is visibly heightened as police officers from the Accra Regional Command are strategically deployed to the Kantamanto Market area. Their presence aims at ensuring law and order, managing the crowd, and fostering a secure shopping environment. Amidst the holiday cheer, the perennial concern of pickpockets lingers. Shoppers are reminded to stay vigilant and safeguard their belongings, even with the visible police presence, underscoring the importance of personal responsibility during the bustling shopping spree.Transportation adds another layer of complexity, with taxis charging elevated fees and online car services proving elusive. Securing a ride becomes a time-consuming task, emphasising the need for shoppers to plan ahead and exercise patience amidst the traffic situation across the central business district. In some instances one could spend about 30mins in one spot and not moving. Commuters are advised to find alternative means of transportation, which is either the use of motor bike with caution. A number of shoppers are seen adhering to health measures of donning face masks, showcasing a positive response to the Environmental Protection Agency's educational efforts amidst the harmattan season. Source: Ghana News Agency
