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How will OHADA affect secured lending in the DRC?
06 July 2010
DLA Piper’s James Willcock assisted by DLA Piper's Herman Lemaire and Emmanuel Lubala analyse what impact West-African legal treaty OHADA will have on secured lending within the Democratic Republic of Congo.
Read more:
[OHADA Democratic Republic of Congo]
[Organisation for the Harmonisation of Business Law in Africa ]
The impact of OHADA on the DRC: what do lenders need to know?
In 11 February 2010 the Democratic Republic of Congo’s President, Joseph Kabila, approved law number 10/002 authorising the accession of the DRC to the Organisation for the Harmonisation of Business Law in Africa (commonly known by its French acronym, OHADA).
The DRC’s accession will be complete once it has ratified the founding treaty of OHADA and deposited the relevant instrument with the Government of Senegal, sixty days after which, the laws of OHADA will apply within the DRC; a process which has yet to be completed.
OHADA and the uniform acts
OHADA currently comprises 16 (West African) member states (seventeen, following the accession of the DRC) with the stated aim of strengthening the African legal system by enacting a secure legal framework for the conduct of business. This is achieved by issuing unified legislation...
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