According to article 309 of the OHADA Law of 2014, a private limited company is a company in which members are liable for the company debts only proportionally to their contributions and whose rights are represented by equity interests.
It may be formed by a natural person or legal entity, or by two or more natural persons or legal entities.
It shall be designated by a name that shall be immediately preceded or followed by the following words written in legible characters: “private limited company” or by the abbreviation: “PLC”.