Abstract
This paper examines the current dynamics of regulatory reforms in Africa and its implication on the continent. It analyses the highly political struggle for regulatory dominance of business law in Africa and how this interacts with the preferences and power of select international actors. It illustrates that the struggle between Francophone and Anglo-Saxon sections of society for OHADA to reflect their ideological stance is having a negative effect on the harmonisation process.
Highlights
The business environment of Sub-Sahara Africa (SSA) has experienced considerable changes in the past two decades as a result of pressure both within and out of the country for better economic reforms
Ewald (1995) is of the same opinion. It is on this backdrop that the section of this paper provides some recommendations for effective harmonisation of business law in Africa
Understanding the social, legal, economic and political implications of OHADA is important for future evolution of the harmonisation and integration process especially at this early stage of the regulatory process
Summary
The business environment of Sub-Sahara Africa (SSA) has experienced considerable changes in the past two decades as a result of pressure both within and out of the country for better economic reforms. This paper examines the dichotomy that epitomises the dilemma faced by African countries as a result of the struggle for ideological and cultural dominance of regulatory reform of business law in Africa. It examines the OHADA Treaty on Business law in Africa and the struggle between the IMF and the World Bank on the one hand and France on the other hand for the law to reflect their legal system and ideology. This has had negative effects on the application of OHADA as this paper indicates
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