OHADA is a system of corporate law and implementing institutions adopted by seventeen
West
West or Occident is one of the four cardinal directions or points of the compass. It is the opposite direction from east and is the direction in which the Sunset, Sun sets on the Earth.
Etymology
The word "west" is a Germanic languages, German ...
and
Central Africa
Central Africa is a subregion of the African continent comprising various countries according to different definitions. Angola, Burundi, the Central African Republic, Chad, the Democratic Republic of the Congo, the Republic of the Congo, ...
n nations in 1993 in
Port Louis
Port Louis (french: Port-Louis; mfe, label= Mauritian Creole, Polwi or , ) is the capital city of Mauritius. It is mainly located in the Port Louis District, with a small western part in the Black River District. Port Louis is the country's ec ...
,
Mauritius
Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...
before it was revised in 2008 in
Quebec
Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirtee ...
,
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
. OHADA is the acronym for the French "''Organisation pour l'harmonisation en Afrique du droit des affaires''", which translates into English as "Organisation for the Harmonisation of Corporate Law in Africa".
The OHADA Treaty is made up today of 17 African states. Initially fourteen African countries signed the treaty, with two countries (
Comoros
The Comoros,, ' officially the Union of the Comoros,; ar, الاتحاد القمري ' is an independent country made up of three islands in southeastern Africa, located at the northern end of the Mozambique Channel in the Indian Ocean. It ...
and
Guinea
Guinea ( ),, fuf, 𞤘𞤭𞤲𞤫, italic=no, Gine, wo, Gine, nqo, ߖߌ߬ߣߍ߫, bm, Gine officially the Republic of Guinea (french: République de Guinée), is a coastal country in West Africa. It borders the Atlantic Ocean to the we ...
) subsequently adhering to the treaty and a third (the
Democratic Republic of Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
) joined on 12 September 2012. The Treaty is open to all states, whether or not they are members of the
Organisation of African Unity
The Organisation of African Unity (OAU; french: Organisation de l'unité africaine, OUA) was an intergovernmental organization established on 25 May 1963 in Addis Ababa, Ethiopia, with 32 signatory governments. One of the main heads for OAU's ...
. OHADA was created with the objective of fostering economic development in West and Central Africa by creating a better investment climate so as to attract investment in a 225 million-consumer market.
Characteristics
As a West and Central African initiative to harmonize business laws and implementing institutions, OHADA aims to find alternative solutions to the lack of economic growth in sub-Saharan Africa - a region which has challenged and puzzled
development economists
Development economics is a branch of economics which deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural c ...
for several decades. The stated purpose of the initiative is to facilitate and encourage both domestic and foreign investment in the member states, and as most of the participating countries are former
French colonies
From the 16th to the 17th centuries, the First French colonial empire stretched from a total area at its peak in 1680 to over , the second largest empire in the world at the time behind only the Spanish Empire. During the 19th and 20th centuri ...
, they draw chiefly on a modernised French legal model to achieve their goals. The laws promulgated by OHADA are exclusively business-related. The OHADA treaty has created a supranational court ( Common Court of Justice and Arbitration of the Organization for the Harmonization in Africa of Business Lawbr> to ensure uniformity and consistent legal interpretations across the member countries, and the French influence in court proceedings is apparent.
The most critical tool for legal integration is the Uniform Act. A uniform act is the recollection of all relevant legal norms needed to ease business in the Member States. As of today, OHADA includes nine validated Uniform Acts: General Commercial Law, Commercial Companies and Economic Interest Groups, Secured Transactions Law, Debt Resolution Law, Insolvency Law, Arbitration Law, Harmonization of Corporate Accounting, Contracts for the Carriage of Goods, Cooperatives Companies Law. Two Uniform Acts (Arbitration and Accounting) are currently being revised.
Member States
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Benin
Benin ( , ; french: Bénin , ff, Benen), officially the Republic of Benin (french: République du Bénin), and formerly Dahomey, is a country in West Africa. It is bordered by Togo to the west, Nigeria to the east, Burkina Faso to the north ...
Treaty On The Harmonisation Of Business Law In Africa ON LINE OHADA LAW LEGISLATION, n.d., retrieved 18 May 2016
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Burkina Faso
Burkina Faso (, ; , ff, 𞤄𞤵𞤪𞤳𞤭𞤲𞤢 𞤊𞤢𞤧𞤮, italic=no) is a landlocked country in West Africa with an area of , bordered by Mali to the northwest, Niger to the northeast, Benin to the southeast, Togo and Ghana to the ...
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Cameroon
Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west-central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the C ...
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Central African Republic
The Central African Republic (CAR; ; , RCA; , or , ) is a landlocked country in Central Africa. It is bordered by Chad to the north, Sudan to the northeast, South Sudan to the southeast, the DR Congo to the south, the Republic of th ...
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Chad
Chad (; ar, تشاد , ; french: Tchad, ), officially the Republic of Chad, '; ) is a landlocked country at the crossroads of North and Central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic ...
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Comoros
The Comoros,, ' officially the Union of the Comoros,; ar, الاتحاد القمري ' is an independent country made up of three islands in southeastern Africa, located at the northern end of the Mozambique Channel in the Indian Ocean. It ...
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Côte d'Ivoire
Ivory Coast, also known as Côte d'Ivoire, officially the Republic of Côte d'Ivoire, is a country on the southern coast of West Africa. Its capital is Yamoussoukro, in the centre of the country, while its largest city and economic centre is ...
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Democratic Republic of Congo
The Democratic Republic of the Congo (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
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Equatorial Guinea
Equatorial Guinea ( es, Guinea Ecuatorial; french: Guinée équatoriale; pt, Guiné Equatorial), officially the Republic of Equatorial Guinea ( es, link=no, República de Guinea Ecuatorial, french: link=no, République de Guinée équatoria ...
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Gabon
Gabon (; ; snq, Ngabu), officially the Gabonese Republic (french: République gabonaise), is a country on the west coast of Central Africa. Located on the equator, it is bordered by Equatorial Guinea to the northwest, Cameroon to the north ...
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Guinea
Guinea ( ),, fuf, 𞤘𞤭𞤲𞤫, italic=no, Gine, wo, Gine, nqo, ߖߌ߬ߣߍ߫, bm, Gine officially the Republic of Guinea (french: République de Guinée), is a coastal country in West Africa. It borders the Atlantic Ocean to the we ...
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Guinea-Bissau
Guinea-Bissau ( ; pt, Guiné-Bissau; ff, italic=no, 𞤘𞤭𞤲𞤫 𞤄𞤭𞤧𞤢𞥄𞤱𞤮, Gine-Bisaawo, script=Adlm; Mandinka: ''Gine-Bisawo''), officially the Republic of Guinea-Bissau ( pt, República da Guiné-Bissau, links=no ) ...
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Mali
Mali (; ), officially the Republic of Mali,, , ff, 𞤈𞤫𞤲𞥆𞤣𞤢𞥄𞤲𞤣𞤭 𞤃𞤢𞥄𞤤𞤭, Renndaandi Maali, italics=no, ar, جمهورية مالي, Jumhūriyyāt Mālī is a landlocked country in West Africa. Mali ...
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Niger
)
, official_languages =
, languages_type = National languages
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Republic of the Congo
The Republic of the Congo (french: République du Congo, ln, Republíki ya Kongó), also known as Congo-Brazzaville, the Congo Republic or simply either Congo or the Congo, is a country located in the western coast of Central Africa to the w ...
Togo
Togo (), officially the Togolese Republic (french: République togolaise), is a country in West Africa. It is bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, where its c ...