Using the Uncitral Legislative Guide as a Tool for a Secured Transactions Reform in Sub-Saharan Africa: The Case of Malawi

Abstract

The purpose of this article is to introduce the reader to the on-going reform of the secured transactions framework in Malawi that seeks to increase access to credit, particularly for small and medium-sized businesses (SMEs). Malawi may become the first jurisdiction in Africa to have a modern and efficient legal framework in place for security interests in personal property. The legal reform culminated in the adoption of the Personal Property Security Act in July 2013.

Keywords: secured transactions, security interest, UNCITRAL Legislative Guide, financing statement, creditor