What is the OHADA Treaty?

The Organization for the Harmonization of Business Law in Africa (abbreviated as OHADA) is an intergovernmental organization for legal integration. It was established by the Treaty of 17 October 1993 signed in Port Louis (Mauritius), as revised on 17 October 2008 in Quebec (Canada).

What does OHADA mean?

The Organization for the Harmonization of Business Law in Africa (OHADA) was established by the Treaty on the Harmonization of Business Law in Africa (OHADA) signed on October 17, 1993 in Port – Louis (Mauritius Ireland) and revised in Quebec (Canada) on October 17, 2008.

What are the 17 member states of OHADA?

There are presently 17 members States : Benin, Burkina Faso, Cameroon, Central African Republic, Comoros, Congo, D.R. Congo, Ivory Coast, Gabon, Guinea, Guinea-Bissau, Equatorial Guinea, Mali, Niger, Senegal, Chad and Togo..

What are the aims of the OHADA Treaty?

Set up by a treaty signed on October 17, 1993 in Port-Louis (Mauritius), OHADA’s purpose is to promote regional integration and economic growth and to ensure a secure legal environment through the harmonization of business law.

What are the advantages of OHADA?

The advantages are many: they are primarily the establishment of the legal integration, then, as we have already mentioned, the legal integration promotes economic integration, which together are the way to achieve the African Union. These advantages encourage the states to opt for the legal integration.

What is OHADA financial reporting?

OHADA accounting plan is a regulatory framework of accounting applicable in states which are part of the OHADA treaty. OHADA is the French acronym for “Organisation pour l’Harmonisation en Afrique du Droit des Affaires”, which translates into English as “Organisation for the Harmonization of Business Law in Africa”.

What are the organs of OHADA?

OHADA shall comprise the Conference of Heads of State and Government, the Council of Ministers, the Common Court of Justice and Arbitration and the Permanent Secretariat.

What are the possible reasons for the creation of OHADA?

6 days ago
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.