A project in an African State is affected by a currency crisis, a tariff reduction for energy producers and an anti-corruption investigation. The project’s Portuguese Sponsor / shareholder and its African Lender each bring claims under two different applicable investment treaties. Working through jurisdictional issues, the core standards of protection, available defences and quantum considerations, this session contrasts the claims under the two different investment treaties with the hypothetical position were the AfCFTA Protocol on Investment to apply, and draws out practical lessons for States in preventing, managing and defending investor-State disputes.