Dakar, Senegal, 07 and 08 February 2018

The Permanent Secretary of the Organization for the Harmonization of Business Law in Africa (OHADA), Prof. Dorothé Cossi SOSSA, attended the regional conference on factoring in Africa , held on 7 and 8 February 2018 at hotel Radisson BLU of Dakar (Senegal).

Organized by Afreximbank and Factors Chain International (FCI), the conference focused on the following central theme: “International and domestic factoring: an alternative means for the SMEs in Africa”. This important scientific meeting was attended by: Bank representatives, financial institutions, regulators and legislators, government agencies, factoring companies, business firms, SMEs, information technology companies, consulting companies, exporters and other companies interested in the factoring world. The conference's purpose was to familiarize the participants with domestic and international factoring, and to assess its benefits and opportunities.

In his speech, the OHADA's Permanent Secretary developed a conceptual approach to factoring and stressed its importance for OHADA's State Members, before highlighting the challenges and OHADA's strategy on drafting a Uniform Act on Factoring.

He stressed that factoring is a facilitation tool for access to credit to African SMEs undermined by the weakness of their net liquidity whose financial balance is at risk in case of delay or default of payment by the debtors. He added that this financing technique is all the more important since the difficulties to access credit is the very first issue to the development of enterprises, especially for small and micro-enterprises that represent the bulk of the economic fabric in most African States. By generally improving the cash flow of African enterprises, factoring contributes to the achievement of OHADA's ultimate goals, namely the economic development of Africa through legal security of business operations.

The Permanent Secretary thanks Afreximbank and FCI for the successful organization of the event and welcomes the state of the Bank's cooperation with OHADA.

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The Permanent Secretary
Prof. Dorothé C. SOSSA
http://www.ohada.org/index.php/en/news/latest-news/2421-ohada-participes-at-the-regional-conference-on-factoring-in-africa