Secured Transactions Law Reform in Africa

Description

Over the last few decades, many countries have reformed their secured transactions law. One of the main reasons has been the clear link between reform and the availability of credit, and the drive to improve access to finance, particularly for micro, small and medium-sized enterprises. This book focuses particularly on developing economies in Africa, which have legal frameworks influenced by English, French, Belgian, Roman-Dutch and other laws. Reform in this area of law across African countries has taken a number of forms, which are explored and discussed in this book. Secured Transactions Law Reform in Africa is a mixture of a critical description of the pre-reform law and practice, and the reform process itself. It also includes a comparative analysis of the legal provisions and an examination of the early results of the reforms. The book sets out a road map for the future of secured transactions reform; primarily in Africa, but also in other countries that have undertaken or are contemplating similar reforms. This book is the second in a series of books about Secured Transactions Law in countries around the world, and its reform, both on a national and an international scale. The first book, Secured Transactions Law Reform: Principles, Policies and Practice, was published in 2016. Preface Table of Contents List of Abbreviations Table of Cases Table of Legislation Table of International Instruments Part I: Introduction 1. Introduction A. General Introduction B. Reform of Secured Transactions Law C. The Status and Background of Secured Transactions Law Reform in Africa D. Terminology E. Legal Issues F. The Shape of the Book 2. A Modern Secured Transactions Law A. Introduction B. Scope of Secured Transactions Law C. Creation D. Third-Party Effectiveness E. Registration F. Priority G. Rights and Duties of Parties H. Enforcement I. Conflict of Laws J. Transitional Provisions K. Conclusion Part II: Common Law 3. Ghana A. Ghana's Economy B. Pre-B&L Act Legal Framework C. The Borrowers and Lenders Act D. Final Remarks 4. Kenya A. Economic Overview B. Pre-Existing Legal Framework and Registries C. Movable Property Security Rights Act D. Final Remarks 5. Liberia A. Economic Overview B. The Commercial Code C. Chapter 5 of the Commercial Code D. Insolvency Reform E. Final Remarks 6. Malawi A. Introduction B. Warehouse Receipts Act of 2018 C. Malawi's Commodity Exchanges D. Final Remarks 7. Nigeria A. Economic Overview B. Pre-Reform Secured Transactions Framework C. Recent Reforms D. Secured Transactions Law – The Reform E. Final Remarks 8. Zambia A. Introduction B. Background to the MPSIA C. Pre-MPSIA Framework D. Structure of the MPSIA E. Implementation Challenges F. Final Remarks 9. Sierra Leone A. Economic and Financing Overview B. Legal Framework Affecting Secured Transactions C. Borrowers and Lenders Act of 2014 D. The 2019 Borrowers and Lenders Act E. Final Remarks and Future Steps Part III: Civil Law 10. OHADA Uniform Act on Securities A. Introduction B. Scope: Types of Security Rights C. Third-Party Effectiveness D. Registration of Security Rights in the Register of Commerce and Securities E. Priority F. Rights and Obligations of the Parties G. Enforcement of Security Rights H. Conflict of Laws and Transition Provisions I. Final Remarks 11. Burundi A. Economic Overview B. Pre-Reform Legal Framework C. The 2016 Law on Security Rights and the 2016 Leasing Law D. Final Remarks 12. Ethiopia A. Economic Overview B. Legal System C. Overview of the Current Secured Transactions Regime D. Current Security Devices E. Proposed Reform F. Final Remarks 13. Tunisia A. Introduction B. Economic Overview C. Secured Transactions Framework - An Overview and Common Transactions D. Creation and Third-Party Effectiveness E. Priorities F. Enforcement of Security Rights G. Conclusion Part IV: Mixed Jurisdictions 14. Rwanda A. Country and Economic Overview B. Secured Transactions Legal Framework C. Law on Security Interests in Movable Property D. Final Remarks 15. South Africa A. Introduction B. Background of the Legal Framework C. Security Rights in Movable Assets D. Final Remarks 16. Zimbabwe A. Introduction B. Pre-2017 Secured Transactions Framework C. The Movable Property Security Interests Act D. Final Remarks Part V: Final Chapters 17. A Modern International Approach to Equipment Financing in Africa: The Cape Town Convention and its Protocols A. Introduction B. The Cape Town Convention Model: The Basic Legal Framework C. Facilitating Financing in the Aviation Sector: The Aircraft Protocol in Africa D. Facilitating Development of the Rail Sector: The Luxembourg Rail Protocol and Africa E. The Future Mining, Agriculture and Construction Protocol F. Final Remarks 18. The Infrastructure Underpinning a Modern Secured Transactions Law A. Introduction B. The Benefits of a Reformed Secured Transactions Regime C. Components of a Modern Secured Transactions Regime D. Credit Infrastructure Elements that Support Affordable Credit E. Conclusion Conclusion A. Introduction B. Drivers for Reform C. The Method of Reform D. The Substance of Reform E. Conclusion Index