Doing Business recognises OHADA

• 09/05/2009
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The World Bank report on « Doing business » appreciates the evolution on OHADA Member States. This year again, the World Bank « Doing Business » report evaluates the business regulation of 181 countries around the world, in particular the reforms designed to facilitate business practices. According to the report, Eastern Europe and Central Asia effected the great majority of those reforms (93%). It also highlights the Sub-Saharan Africa states, almost all of which belong to OHADA, that undertook at least one reform to improve the business environment. Senegal and Burkina Faso initiated legislative reforms in various fields: incorporation of companies, acquisition of construction certificates, transfers of property, protection of investors and of contractual expectations. In Ivory Coast, alongside a conference evaluating the implementation of OHADA, the authorities initiated an interaction between the Government and managers of enterprises, for the purpose helping the private sector become more competitive. Worldwide interest in these countries is evidence of their emerging economic revival. The Bretton Woods institutions and the French Agency for Development have shown increased interest in the region. Similarly, Mrs. Idrac, secrétaire d'Etat in Charge of Foreign Trade, has recently led a delegation of businessmen to Sub-Saharan Africa. France, that region's most important commercial partner and investor, represented by more than 600 enterprises in Ivory Coast, is a partner of this revival. According to some analysts, the after several years of economic growth in Africa, it is time for reforms. A 6% average growth rate over the last decade and the awareness of the economic potential that can result from attracting more foreign investment, is pushing the authorities of these countries to rationalize applicable legal constraints and to adopt well-designed legal frameworks for investment. Written by Goullom Ouattara, on May 6th, 2009 Translated into English by Jean Alain Penda and Prof. Claire Moore Dickerson