Country investment factsheet · OHADA business law
Legal & tax framework for investment — June 2026 edition
Series: OHADA country factsheets — a country-by-country overview of investment across the OHADA area.
A major West African mining nation and one of the continent’s leading gold producers, Mali is opening a new chapter with the start of lithium production (the Goulamina mine, inaugurated in late 2024) and the adoption of a new Mining Code in 2023. A member of the unified OHADA legal area and of WAEMU — a single-currency monetary zone pegged to the euro — the country offers investors business law harmonised across 17 states. This factsheet summarises the macroeconomic, tax and legal data relevant to an entry decision, with particular focus on the legal securing of the investment.
Mali at a glance
A harmonised business-law framework
- OHADA — Mali applies the uniform business law of the Organisation for the Harmonisation of Business Law in Africa (17 member states, 9 Uniform Acts: companies, security interests, debt recovery, insolvency, arbitration, etc.). Disputes may be brought before the CCJA (Common Court of Justice and Arbitration), whose awards are enforceable across the 17 states.
- WAEMU — an 8-state economic and monetary union (central bank: BCEAO); free movement of goods and a common foreign-exchange framework. Reference: uemoa.int.
- Revised SYSCOHADA accounting — the mandatory accounting framework, readable by any investor across the zone.
- Also a member of the African Union, the AfCFTA, the WTO, OAPI (intellectual property) and CIMA (insurance).
Common OHADA company forms
| Form | Minimum capital | Typical use |
|---|---|---|
| SA (public limited co.) | XOF 10,000,000 | Codified governance, access to public savings |
| SAS (simplified joint-stock co.) | Set freely by the by-laws | Statutory flexibility — joint ventures, holdings |
| SARL (LLC) | XOF 1,000,000 (national derogation) | Simpler projects, light structure |
| Branch | Attached to the foreign company | OHADA duration limit to anticipate |
Registration with the RCCM; one-stop shop for incorporation and approvals: API-Mali.
Tax regime — the essentials
| Tax | Rate | Details |
|---|---|---|
| Corporate income tax (CIT) | 30% | Aligned with WAEMU directives. Minimum tax: 1% of turnover, due even where no profit is recorded. |
| VAT | 18% | Standard rate. Actual-earnings regime above XOF 50,000,000 turnover (Tax Code art. 70-71); simplified regime below. |
| Withholding taxes (non-residents) | Dividends 10% · services/royalties 30% | Dividends: 10% (7% for companies listed on an approved CREPMF/BRVM exchange). Interest: 6% to 18% depending on type for securities of Malian companies (IRVM regime); 30% for a loan from a foreign parent company without a permanent establishment. Services, technical assistance and royalties paid to non-residents without a permanent establishment: 30% on a net basis (50% flat-rate deduction, or 90% for works/supply contracts) — Tax Code art. 94 to 97, rate set by the 2013 Finance Act. Reduced by the applicable tax treaty — to be checked case by case. |
| Tax treaties | Morocco, Russia, Tunisia, Algeria, Monaco + WAEMU | WAEMU multilateral convention. The France-Mali tax treaty has been terminated and no longer applies (see “practitioner’s view”). Source: DGI Mali. |
Tax source: DGI Mali (General Tax Code) — art. 70-71 (thresholds), 85 (CIT), 94-97 (non-resident withholding), 229 (VAT).
Attractive sectors
- Gold — Mali ranks among Africa’s leading gold producers; gold and cotton make up the bulk of exports.
- Lithium — a new growth driver: the Goulamina mine (Bougouni region), inaugurated in late 2024, is one of Africa’s largest; further projects are in development.
- Cotton & agribusiness — a rising cotton value chain; rain-fed agriculture, livestock.
- Energy — strong solar potential; electrification programmes.
- Telecommunications & services — a fast-growing segment.
Investment incentives
- Investment Code — approvals granting tax, customs and administrative benefits (temporary exemptions for priority sectors: agribusiness, renewable energy).
- API-Mali (Mali Investment Promotion Agency) — one-stop shop for incorporation and approvals (with a regulated processing timeline).
- New Mining Code (2023) — raises the state’s potential stake and strengthens local content; the reference framework for any extractive project.
Work permits for expatriates
- Issuance of residence and work permits to expatriate staff holding a local contract.
- Free transfer of salaries to the home country, after payment of Malian taxes and social contributions.
Foreign-exchange regulation
- WAEMU / BCEAO framework. Cross-border financial transactions fall under WAEMU’s common foreign-exchange regulation, administered by the BCEAO; capital movements and transfers are regulated, channelled through approved intermediaries (banks) and subject to declaration.
- Repatriation of dividends and capital. Transfer abroad of profits, dividends and disposal proceeds is permitted but conditional on documenting the flows and paying the taxes due — to be structured and documented from the moment of entry into the capital. Highly capital-intensive mining projects call for particular attention to the traceability of foreign-currency financing.
- Good practice. Funding the investment in foreign currency and keeping documentary traceability of each flow secures the later transfer of funds.
Regulation subject to change — precise terms (thresholds, supporting documents, timelines) to be checked with the BCEAO and an approved intermediary.
Securing the investment — the UGGC angle (OHADA levers)
Beyond the figures, a successful entry rests on command of the legal framework. In a country where the mining sector (gold, lithium) drives foreign investment and where the treaty framework has changed, contractual and tax structuring is decisive.
- CCJA arbitration — dispute resolution before OHADA’s Common Court of Justice and Arbitration; awards enforceable across the 17 member states.
- Security interests (Uniform Act) — a full range of guarantees (mortgage, pledge, autonomous guarantee, security agent) to secure mining financings.
- FX & repatriation — WAEMU/BCEAO foreign-exchange rules: structure dividend and capital repatriation upfront.
- Governance & compliance — OHADA company law, SYSCOHADA, 2023 Mining Code, early-difficulty prevention.
Our teams support these transactions across M&A, tax law and litigation & arbitration (CCJA).
Our reading — the practitioner’s view
The figures don’t tell the whole story. Here are the points we flag to our clients before any entry into Mali — where field experience makes the difference.
Which structure to choose?
For a foreign operator, the choice is most often between the SA (codified governance, XOF 10,000,000 capital, access to public savings) and the SAS (statutory flexibility, freedom of governance and capital). The SARL remains suited to simpler projects. For a mining project, the architecture generally combines a local project company with an ownership structure compliant with the 2023 Mining Code.
Three pitfalls investors underestimate
- The France-Mali tax treaty no longer applies. The double-taxation treaty between France and Mali has been terminated and has ceased to produce effects. In practice, flows (dividends, interest, royalties, services) between France and Mali now fall under domestic law, with no treaty relief — notably the 30% withholding on services, technical assistance and royalties (Tax Code art. 94-97), which now applies in full to France-Mali flows. This is a major change to build into any tax model involving France, particularly for technical-assistance contracts and intra-group management fees.
- The new 2023 Mining Code. It raises the state’s potential stake and strengthens local-content obligations. The structuring of equity stakes, establishment conventions and financing must be designed around this framework, not older arrangements.
- The minimum tax. A minimum tax of 1% of turnover is due even where no profit is recorded; it must be built into the financial model from the business plan of the early years.
From text to practice
API-Mali is the operational entry point — incorporation, Investment Code approval, project support. For extractive projects, the interplay between the Mining Code, establishment conventions and OHADA security interests conditions the bankability of the project. Traceability of foreign-currency financing, from entry into the capital, is decisive for later repatriation. For regulated sectors, anticipating sector authorisations and their timelines remains essential.
Frequently asked questions
What is the minimum capital to set up an SA in Mali?
The minimum capital for a public limited company (SA) is XOF 10,000,000. The SARL has a minimum capital of XOF 1,000,000 (national derogation). For the SAS, it is set freely by the by-laws. Registration is with the RCCM; API-Mali operates the investment one-stop shop.
What is the corporate income tax rate in Mali?
The CIT rate is 30%. A minimum tax of 1% of turnover remains due even where no profit is recorded.
What is the VAT rate in Mali?
VAT is 18% (standard rate). The actual-earnings regime applies above turnover of XOF 50,000,000 (Tax Code art. 70-71); a simplified regime applies below. Exemptions apply by sector.
How can an investment be secured in the OHADA zone in Mali?
Investors benefit from OHADA’s CCJA arbitration (awards enforceable across the 17 member states), OHADA security interests (mortgage, pledge, autonomous guarantee, security agent), the SYSCOHADA framework, and must structure dividend repatriation upfront under WAEMU/BCEAO foreign-exchange rules. With no France-Mali tax treaty in force, France-related flows now fall under domestic law.
Does Mali apply OHADA law?
Yes. Mali is one of the 17 OHADA member states. It applies the 9 Uniform Acts (companies, security interests, debt recovery, insolvency, arbitration, etc.) and is part of WAEMU and the revised SYSCOHADA accounting framework.
Considering an entry into Mali?
Contact the UGGC Africa team · Download the country factsheet (PDF)
Disclaimer. This country factsheet is provided for general information, as at June 2026; it does not constitute legal or tax advice and cannot bind UGGC Africa. The figures are drawn from public sources and are subject to change (notably through Malian finance acts and the Mining Code). Any investment decision should be the subject of a tailored analysis.
Sources: World Bank (Macro Poverty Outlook Mali, April 2026) · IMF (country report) · UN / Worldometer (population) · DGI Mali (General Tax Code) · API-Mali / Investment Code · Ministry of Mines (2023 Mining Code, lithium) · BOFiP / DGFiP (treaty termination) · OHADA (ohada.org) · BCEAO · WAEMU · uggcafrica.com.