Omanghana
Ghana has become the first country to sign the United Nations Convention on Negotiable Cargo Documents, known as the Accra Convention, in a move aimed at improving access to trade finance and simplifying the movement of goods across borders.
The signing took place in Accra on Monday, October 26, 2026, with 26 countries signing the treaty by the end of the opening day.
The convention establishes a common legal framework for negotiable cargo documents covering goods transported by road, rail, air and sea. It is intended to make it easier for businesses to transfer rights to goods in transit and use qualifying documents to support financing.
For African economies, the framework offers a potential means of addressing financing constraints that limit business growth and regional commerce.
Expanding Access to Trade Finance
Negotiable documents associated with maritime transport have traditionally played a significant role in financing international trade. The Accra Convention seeks to extend similar opportunities across other modes of transport, including journeys involving several transport methods.
Under the framework, businesses would be able to use qualifying cargo documents to obtain working capital while their goods are still in transit, subject to applicable legal and lending requirements.
This could benefit small and medium-sized enterprises that struggle to secure loans because they lack conventional collateral, such as land or buildings.
The convention also provides for electronic negotiable cargo documents, supporting a shift towards digital trade processes and reducing dependence on paper records.
Supporting Regional Commerce
The framework has particular relevance for Africa, where road transport carries a substantial share of freight and many businesses face persistent difficulties accessing affordable credit.
By improving the legal recognition of cargo documents across transport modes, the convention could help businesses finance shipments moving through regional supply chains.
Its objectives also complement the African Continental Free Trade Area by supporting more efficient cross-border transactions and greater certainty for traders, lenders and logistics operators.
However, the financing benefits will depend on implementation, participation by financial institutions and businesses’ ability to meet lending requirements.
Ghana Prepares Domestic Legal Reforms
The Ministry of Trade, Agribusiness and Industry, led by Elizabeth Ofosu-Adjare, is spearheading a review of Ghana’s commercial laws to support implementation of the convention.
The review covers legislation relating to the sale of goods, evidence, transport, electronic transactions and secured lending.
The proposed changes are intended to align domestic law with the treaty and provide a clear basis for recognising and using negotiable cargo documents.
Ghana’s signing marks an initial commitment to the framework. Its full domestic application will require the relevant treaty procedures and legal measures to be completed.
Source: Omanghana
