ABSTRACT

Harmonisation is believed to help promote legal certainty and economic efficiency within a specific region, as the rules governing key sectors of the economy become similar and increase the region's attractiveness for foreign direct investment. The level of harmonisation as well as the approach and techniques used depend on the particular stage of economic integration pursued by the participating countries. Regionalism occupies a prominent place in most African states' development strategy, as it is supposed to provide them with the opportunity to better exploit their wealth and to attract more foreign and local investments. Harmonisation can be defined as the coordination of different legal systems in order to reduce their differences and reach common goals. With harmonisation, nations are supposed to agree on a set of objectives and targets and let each nation amend their internal legal regimes to fulfil the chosen objectives, giving their laws some sort of similarity.