ODI Global, in partnership with the 24-Hour Economy Authority and the African Continental Free Trade Area Secretariat, has unveiled Neofingo, a digital trade finance protocol aimed at bridging Ghana’s estimated $7 billion annual trade finance gap.
The initiative was formally announced on March 26, 2026, during a dual launch event held in London and Accra, bringing together regulators, financiers, policymakers, entrepreneurs, and technologists from both countries. The announcement followed a consultative virtual session held on March 24.
Neofingo is designed as a shared digital public infrastructure to connect United Kingdom neobanks with Ghanaian and broader African fintech ecosystems. The platform aims to expand access to trade finance tools—particularly letters of credit—for small and medium enterprise (SME) exporters, including members of the Ghanaian diaspora engaged in cross-border trade.
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The protocol is built on Ghana’s pro-fintech regulatory environment and anchored on global standards such as the UK Electronic Trade Documents Act 2023, ISO 20022, and the International Chamber of Commerce’s electronic Uniform Customs and Practice for Documentary Credits (eUCP), ensuring interoperability and trust across jurisdictions.
Ghana’s $7 billion trade finance shortfall reflects a wider structural challenge across Sub-Saharan Africa, where an estimated $120 billion financing gap persists. Experts attribute this not only to limited capital but also to weakened trust infrastructure, exacerbated by the withdrawal of correspondent banking relationships, which has restricted access to essential instruments like letters of credit—particularly for smaller exporters.
Presidential Adviser on the 24-Hour Economy, Augustus Goosie Tanoh, stated that the global trade finance system “was built around African SMEs, not for them,” noting that Neofingo seeks to redesign trade finance as inclusive, shared infrastructure accessible to all participants.
Chief Executive of ODI Global, Dr Sara Pantuliano, cited research indicating that effective implementation of the AfCFTA Digital Trade Protocol could increase Ghana’s gross domestic product by up to $3 billion over time, while potentially creating as many as 600,000 high-quality jobs.
Also speaking, Ben Ainsley highlighted the longstanding ties between the United Kingdom and Ghana, noting that the two countries are already connected through “people, history, and language.” He added that Neofingo would introduce a critical financial layer to deepen that relationship and enhance bilateral trade.
Organisers said ongoing engagements will focus on defining the governance structures, technical standards, and institutional frameworks required to operationalise the trade finance corridor. The initiative is expected to unlock opportunities for thousands of businesses, employees, and supply chain actors across Ghana, the UK, and the wider African market.
