Twenty-six countries have signed the United Nations Convention on Negotiable Cargo Documents, popularly known as the Accra Convention, in a significant move to address Africa’s estimated US$74 billion to US$92 billion trade finance gap and expand access to funding for businesses involved in cross-border trade.
The Convention aims to facilitate international commerce, strengthen supply chains and promote digitalisation through a harmonised legal framework governing negotiable cargo documents across road, rail, air and sea transport.
Ghana became the first country to sign the agreement at a ceremony in Accra on Monday, October 26, 2026, when the Convention was officially opened for signature. Speaking on behalf of President John Dramani Mahama, the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said the agreement would help remove longstanding obstacles that have prevented businesses, particularly small and medium-sized enterprises (SMEs), from securing financing using goods in transit as collateral.
Mrs Ofosu-Adjare explained that although maritime cargo documents have traditionally allowed traders to use goods in transit to obtain bank financing, similar arrangements have been largely unavailable for goods transported by road, rail and air.
She noted that road transport accounts for an estimated 80 to 90 per cent of freight movement across Africa, while intra-African trade represented only 14.4 per cent of the continent’s total trade in 2024.
Under the Convention, negotiable cargo documents will be recognised as documents of title regardless of the mode of transport used. The agreement also provides safeguards for parties acting in good faith and grants electronic cargo documents the same legal recognition as paper-based documents.
Mrs Ofosu-Adjare reaffirmed Ghana’s commitment to ratifying the Convention and undertaking the necessary reviews of laws relating to transport, the sale of goods, evidence, electronic transactions and secured lending to ensure effective implementation.
She further announced plans to pilot the use of negotiable cargo documents in partnership with the Ghana Shippers’ Authority, the Ghana Ports and Harbours Authority, the Customs Division of the Ghana Revenue Authority and financial institutions.
The Secretary of the United Nations Commission on International Trade Law (UNCITRAL), Anna Joubin-Bret, commended Ghana for hosting the signing ceremony, expressing confidence that the Convention would help reduce legal uncertainty, improve access to trade finance, enhance supply chain efficiency and advance digital trade.
She said the agreement could play a vital role in supporting Africa’s regional integration efforts under the African Continental Free Trade Area (AfCFTA).
Describing the signing as a crucial first step towards implementing the new international legal framework, Ms Joubin-Bret urged more countries to support the Convention’s adoption.
The 26 signatories are Ghana, Sierra Leone, Burkina Faso, Cabo Verde, China, Comoros, Côte d’Ivoire, Cuba, the Democratic Republic of the Congo, Djibouti, Dominica, the Dominican Republic, Gabon, The Gambia, Guinea, Guinea-Bissau, Mauritania, Nicaragua, Nigeria, Pakistan, Rwanda, Saudi Arabia, South Sudan, Togo, Tanzania and Venezuela.
The United Nations General Assembly adopted the Accra Convention on December 15, 2025. The Convention takes its name from Ghana’s capital, where it was opened for signature, and will enter into force once the tenth instrument of ratification, acceptance, approval or accession has been deposited.
