Economic impact of the Uniform Acts: OHADA's reform dynamic is paying off
Yaounde, February 4th, 2019
The various Doing Business Reports and econometric studies carried out in recent years confirm, every day more and more, the decisive contribution of OHADA's legal system to improving the business climate and promoting investment in Africa. An independent assessment, focusing specifically on the revised Uniform Acts, has just highlighted the positive impact of the recent reforms on economic activity in the OHADA Member States.
Carried out by ECOPA and ECONOMISTI ASSOCIATION at the request of OHADA and the International Finance Corporation of the World Bank Group, the study covers the following nine (9) countries: Benin, Cameroon, Chad, Côte d'Ivoire, Democratic Republic of Congo, Equatorial Guinea, Guinea, Mali, and Senegal. It shows, in substance, that companies have been able to create and prosper more easily by means of the modernization of the regulatory framework through the updating of the Uniform Act on General Commercial Law, the Uniform Act on the Law of Commercial Companies and Economic Interest Groups, the Uniform Act organizing the Securities and the Uniform Act on the Collective Proceedings for wiping up debts.
The Report points out that the revision of these four texts had a significant impact in terms of improving access to finance, business creation and cost savings for the private sector. It draws lessons from the assessment and makes public policy recommendations to OHADA and member countries.
Download the Report here:
- English: OHADA IC Impact Final Report - English
- French: OHADA IC Impact Final Report - French
The Permanent Secretary welcomes the results of this study, which once again attests to OHADA's decisive role in promoting a legal environment conducive to economic activity as a source of growth and development. He also welcomed the renewed support of the World Bank Group and the many other partners of the Organization.
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The Permanent Secretary,
Prof. Dorothé C. SOSSA
www.ohada.org
