Legal challenges in the realisation of free movement of capital under the [east african community] common market protocol

This research has investigated the legal challenges in the realisation of free movement of capital under the [East African Community] Common Market Protocol. The general objective was to indentify such challenges, to find out their nature, causes and extent; and to finally suggest solutions thereto. The hypothesis was that the Region needs effective institutions to enhance the free movement of capital; and the manner of reception and implementation of community law in Tanzania requires an overhaul in order to smooth the reception and implementation of community law in the country, regarding the free flow of capital. Research findings reveal that the Community lacks effective institutions for monitoring the implementation of the Common Market Protocol and for settling disputes of a Common Market nature. The research has also revealed that there are flaws in the process of receiving and implementing community law in Tanzania. The study has concluded that the aforesaid challenges pose a negative threat to the success of free movement of capital under the East African Community Common Market Protocol. The research recommends that effective institutions for monitoring the implementation of the Common Market Protocol should be established and accorded sufficient capacity to perform their obligations. Lastly, the study recommends that Tanzania should make constitutional amendments in order to make the application and enforcement of community law within the country more effective.