The legal framework for participatory financing in the WAEMU zone

The rise of participatory financing as an alternative to traditional financing channels, especially for SMEs, has prompted various legislators to establish a legal framework to facilitate access to it. However, UEMOA legislators seem to be standing on the sidelines of this dynamic, depriving economic operators of the opportunity to make use of this mode of financing. The major difficulty with this absence of a legal framework lies in the compatibility of the participative financing mechanism with the classic banking and financial regulations laid down by the OHADA and UMOA legislators. It is with this in mind that this book, through a comparative study with the legislation of the European Union and certain African legislations on the subject, proposes possible solutions to the UEMOA legislator in order to promote the insertion of this "new" mode of financing in the said area.