Le défi de l’Organisation pour l’harmonisation en Afrique du droit des affaires face au développement des marchés financiers africains : Quid de la protection des investisseurs

Gloria Lubaki Sita

doi:10.5771/2363-6270-2019-2-157

Contents
- Chapter Expand | CollapseAuthorsPage
- 135–136 Titelei/Inhaltsverzeichnis 135–136
- 137–234 Abhandlungen • Articles • Articles 137–234
  - 137–156 Rule of Law 2.0: Blockchain Technology and the Development of Legal Institutions in Africa Alexander Wilhelm Alexander Wilhelm 137–156
  - 157–174 Le défi de l’Organisation pour l’harmonisation en Afrique du droit des affaires face au développement des marchés financiers africains : Quid de la protection des investisseurs Gloria Lubaki Sita Gloria Lubaki Sita 157–174
  - 175–203 Die gewohnheitsrechtliche Praktik der Leviratsehe in Kenia und Uganda Lena Scheibinger Lena Scheibinger 175–203
  - 204–234 Les activités minières et le respect des droits de l’homme au Kivu Balingene Kahombo Balingene Kahombo 204–234
- 235–245 Berichte • Reports • Rapports 235–245
  - 235–242 What can the Tanzania Judicial System learn from Germany? Issa Maige Issa Maige 235–242
  - 243–245 Mitteilungen aus der Gesellschaft für afrikanisches Recht (2019) Harald Sippel Harald Sippel 243–245
- 246–248 Buchbesprechungen • Book Reviews • Compterendus de publications 246–248
  - Hatem Elliesie: Völkerrechtliche Beziehungen zwischen Äthiopien und Italien im Lichte des Vertrages von Uccialli/Wuchale (1889). Harald Sippel Harald Sippel
- 249–249 Impressum 249–249
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RiA Recht in Afrika | Law in Africa | Droit en Afrique , page 157 - 174

Le défi de l’Organisation pour l’harmonisation en Afrique du droit des affaires face au développement des marchés financiers africains : Quid de la protection des investisseurs

Autoren

Gloria Lubaki Sita

DOI
- doi.org/10.5771/2363-6270-2019-2-157
- ISSN: 1435-0963
- ISSN online: 2363-6270
Abstract

By the time the founding fathers of the Organization for the Harmonization of Business Law in Africa (OHADA) signed the Treaty of Port Louis, the financial markets in Western and Central Africa were embryonic. Nowadays the situation has changed and it seems appropriate to reconsider relationship between OHADA law and securities exchange markets. Indeed, OHADA's Community legislation has to deal with the securities markets covered and serve both the proper functioning of the market and the protection of investors. The uniform Act on Commercial Companies and Economic Interest Groupings contains provisions referring to specific financial rules. However, is this sufficient to earn the public trust? Financial market law is a complex discipline. If we supplement this the effort required for investors to find their way between the West African Economic and Monetary Union (WAEMU) or the Economic and Monetary Community of Central Africa (CEMAC) stock exchange law and national constraints throughout OHADA, the following question must be asked: How is the investor’s interest protected in this legal jungle? This paper tries to analyse the legal mechanisms of investor protection in the WAEMU Regional Stock Exchange and the Central African Stock Exchange, combining them with the uniform law for commercial companies of OHADA.

Résumé

By the time the founding fathers of the Organization for the Harmonization of Business Law in Africa (OHADA) signed the Treaty of Port Louis, the financial markets in Western and Central Africa were embryonic. Nowadays the situation has changed and it seems appropriate to reconsider relationship between OHADA law and securities exchange markets. Indeed, OHADA's Community legislation has to deal with the securities markets covered and serve both the proper functioning of the market and the protection of investors. The uniform Act on Commercial Companies and Economic Interest Groupings contains provisions referring to specific financial rules. However, is this sufficient to earn the public trust? Financial market law is a complex discipline. If we supplement this the effort required for investors to find their way between the West African Economic and Monetary Union (WAEMU) or the Economic and Monetary Community of Central Africa (CEMAC) stock exchange law and national constraints throughout OHADA, the following question must be asked: How is the investor’s interest protected in this legal jungle? This paper tries to analyse the legal mechanisms of investor protection in the WAEMU Regional Stock Exchange and the Central African Stock Exchange, combining them with the uniform law for commercial companies of OHADA.
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