By: James G. Apple, Editor-in-Chief, International
Judicial Monitor
Many African states, in their efforts to be involved with
modern commercial practices not only in their specific areas, but also in
relationships to other nations and the international community, find that their business
and commercial laws, dating back to colonial eras, are not suitable for
modern commercial transactions and commercial relationships. Efforts for reform
have not been successful. As a result 17 African states combined
together (mostly Francophone) to upgrade the legal systems of these states,
especially for foreign and international transactions. OHADA’s
objective is to put together common and simple laws that would be fitting
and satisfactory enough to lure foreign investors back to the region. A key
element of this effort is the promotion of arbitration as the principal
dispute resolution method for trade related disputes.
OHADA was established by the Treaty on the Harmonization of
Business Law signed on October 17, 1993 in Port Louis, Mauritius. The
laws of OHADA are focused exclusively on business and commercial issues.
Organs of OHADA include the Council of Justice and Finance,
a Permanent Secretariat, and the Common Court of Justice and Arbitration.
The key work of OHADA can be found in the Uniform Acts,
which are now nine in number. They are:
General Commercial Law
Commercial Companies and Economic Interest Groups