Shifting Development Paradigms: Community and Environmental Wellbeing Over Corporate Profit in Africa

Abstract

The prevailing paradigm in international business and investment increasingly prioritizes economic gains over the well-being of indigenous communities and the environment, particularly in developing nations. This article challenges this approach, focusing on Africa as a case study. Through a critical analysis of existing legal frameworks, policies, and practices, it argues for a shift towards a more holistic approach to sustainable development and foreign direct investment (FDI) that places the rights of indigenous communities and environmental protection at the forefront. Examining case studies and empirical data, the paper demonstrates the adverse effects of prioritizing profit-driven agendas in African communities and ecosystems. Drawing on principles of ethics, justice, social inclusion and sustainability, it proposes a new framework emphasizing human well-being and environmental safeguards while still promoting economic development through FDI. By reordering the priorities within existing legal instruments and advocating for community inclusion, and stronger enforcement mechanisms, the goal is to achieve a more accountable and equitable foreign investment standard, contributing to a sustainable future for all stakeholders in Africa.