Abstract:
The evidence of developments in the harmonization of international
business laws shows that Africa is lagging seriously
behind. There are still some skeptical voices about the need
for and the value of harmonization of international business
laws, but such voices are now in a minority. The aim of this
paper is to assess the prospects for harmonizing international
business laws in Africa. The main contention is that the
debate today in Africa is not whether or not there should
be harmonization of international business laws, but how
this should be done. The paper reviews the imperatives for
harmonization and the options that exist and then focuses on
the present approach to harmonizing business laws in Africa
under the auspices of the Organization for the Harmonization
of Business Laws in Africa, better known under its French
acronym, OHADA. Based on the critical review of the weaknesses
and strengths of the OHADA regulatory framework,
the paper suggests ways in which the agenda to develop a
harmonized and modern set of business laws in Africa can
be achieved.
