OHADA

OHADA (Organization for the Harmonization of Business Law in Africa) is a system of corporate law and implementing institutions adopted by seventeen West and Central African nations in 1993 in Port Louis, Mauritius before it was revised in 2008 in Quebec, Canada. OHADA is the acronym for the French "Organisation pour l'harmonisation en Afrique du droit des affaires", which translates into English as "Organisation for the Harmonisation of Corporate Law in Africa". The OHADA Treaty is made up today of 17 African states. Initially fourteen African countries signed the treaty, with two countries (Comoros and Guinea) subsequently adhering to the treaty and a third (the Democratic Republic of Congo) joined on 12 September 2012. The Treaty is open to all states, whether or not they are members of the Organisation of African Unity. 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.