Navigating the Tangled Web of Security Interests in Cameroon's Public Procurement Contracts: An OHADA-Centric Analysis

Public procurement plays a vital role in economic development, serving as both a strategic tool for state function and a revenue source for private enterprises. Although procurement contracts offer financial leverage for contractors; their unique legal nature raises concerns regarding creditor security, enforcement mechanisms, and administrative prerogatives. Securitization of interests in public procurement contracts represent a double-edged sword. On the one hand, they provide a crucial financing mechanism for contractors, enabling them to fulfil large-scale public projects that drive economic growth. On the other hand, the unique nature of public contracts—characterized by administrative prerogatives, unilateral contract modifications, and the complexities of debt recovery—creates substantial risks for secured creditors. By dissecting the intersection between public contracts and security interests, this paper highlights the legal and practical challenges faced by creditors, the limitations imposed by administrative powers, and the risks associated with debt recovery within the OHADA legal framework. Ultimately, it calls for legal reforms that safeguard creditor interests while maintaining procurement efficiency, ensuring a more stable and predictable investment environment.