The African Continental Free Trade Area (AfCFTA) Draft Protocol on Investment adopted at the 36th African Union Heads of State meeting in February 2023 aims to create a conducive investment climate in AfCFTA State Parties by providing additional measures around investor protection and facilitation, and by balancing the obligations of investors and host country states. The Protocol uses a narrow definition of investment and protects against direct and indirect expropriation. There is also a promising emphasis on investment facilitation using national focal points and a pan-African trade and investment agency. This could usher in a new approach towards the private sector. Unfortunately, there are no details yet on dispute settlement which still need to be worked out. There are also some articles on expropriation which needs to to be finalised in coming few days.