ODI Global, in partnership with the Government of Ghana’s 24-Hour Economy Authority and the African Continental Free Trade Area (AfCFTA) Secretariat, on Thursday formally announced Neofingo, a digital trade finance protocol designed to bridge Ghana’s estimated $7 billion annual trade finance shortfall by connecting United Kingdom neobanks with Ghanaian and African fintech ecosystems.
The launch, held simultaneously in London and Accra on March 26, 2026, brought together regulators, financiers, entrepreneurs, policymakers and technologists from both countries. It followed a consultative online exercise conducted on March 24, 2026.
Neofingo is envisioned as shared digital public infrastructure that would give Ghanaian small and medium enterprise (SME) exporters access to letters of credit and international trade finance systems, including the entrepreneurial Ghanaian Diaspora. The initiative draws on Ghana’s pro-fintech regulatory framework, the UK Electronic Trade Documents Act 2023, open standards including ISO 20022, and the International Chamber of Commerce (ICC) electronic Uniform Customs and Practice for Documentary Credits (eUCP).
Ghana’s $7 billion trade finance shortfall is part of a broader $120 billion gap across Sub-Saharan Africa, one that experts say stems not just from limited capital, but from a breakdown in trust infrastructure. The retreat of correspondent banking has blocked many exporters, particularly smaller operators, from accessing the letters of credit that are fundamental to international commerce.
Presidential Adviser on the 24-Hour Economy, Augustus Goosie Tanoh, said the current global trade finance system was built around African SMEs, not for them, and that Neofingo aims to rebuild trade finance as shared infrastructure accessible to all.
Dr Sara Pantuliano, Chief Executive of ODI Global, said research indicates that effective implementation of the AfCFTA Digital Trade Protocol could boost Ghana’s gross domestic product (GDP) by $3 billion over the long term and potentially generate up to 600,000 high-quality jobs.
Ben Ainsley, Deputy Trade Commissioner at the British High Commission in Accra, noted that the United Kingdom and Ghana are already linked by people, history and language, and that Neofingo would add a financial layer to that relationship.
The forum will examine the governance, standards and institutional architecture required to make the corridor operational, with the ultimate aim of benefiting thousands of trade actors, employees and supply chain partners across both countries.
