Organization for Harmonization of the Business Law in Africa
Project / Program Summary
(provisional translation)
I. Basic Data:
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II. Project Description
Objectives:
Three principal objectives are established for improving the juridical safety for business and for promoting the return of investors to Africa:
(a) Provide member countries with a modern and unified law
(b) Assure smooth and efficient regulations and litigation in the business world
(c) Establish high-level business law organizations at the magistrate and auxiliary justice levels.
Activities:
The member countries have decided that OHADA has to be composed of the following four institutions:
(a) The Justice and Finance Ministers' Council charged with the adopting the new business laws
(b) The Permanent Secretariat
(c) The Common Court of Justice and Arbitration, which is established in place of the National Court of Cassation for mediating disputes under the new business laws, and
(d) A Superior Regional School for the Magistracy.
The member countries expect from OHADA great advantages resulting from increased trade among most of them, and the development of a lasting private sector. Also, essential conditions for the preparation of economic integration will result from this.
The important laws started to be enforced at the beginning of 1998, which attests to the credibility of the OHADA project.
III. Contact point:
OHADA Permanent Secretariat, M.Aregba POLO, BP 10071 Yaounde, TEL / FAX: (237) 21 67 45
(End)
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