The African Development Bank Group signed a confirming bank agreement with Ghana International Bank (GHIB), a United Kingdom-based bank, under its Trade Finance Transaction Guarantee) Instrument, a move that expands the network of international banks supporting trade transactions involving African financial institutions.
Under the arrangement, the Bank Group will provide transaction-by-transaction guarantees covering up to 100% of the non-payment risk assumed by GHIB on eligible trade finance transactions originated by Bank Group-approved African issuing banks. The unfunded instrument enables the African Development Bank Group to work with local African issuing banks and international confirming banks to support import and export activity, particularly in markets where credit lines are limited, while helping to increase trade to, from and within Africa.
The partnership comes as Africa continues to face a significant trade finance gap. According to the Bank Group’s 2025 Trade Finance Report, unmet demand for trade finance in Africa stood at between USD 74 billion and USD 92 billion in 2024, with small and medium-sized enterprises hardest hit.
“The addition of Ghana International Bank to the African Development Bank’s network of confirming banks strengthens our ability to support trade across Africa, especially in low-income countries and transition states such as Sierra Leone, The Gambia, Guinea and Liberia among others,” said African Development Bank Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor.
“With the increasing implementation of the African Continental Free Trade Area (AfCFTA), African Development Bank has the strategic objective of reducing Africa’s trade finance gap by enhancing the confirming bank capacity of African financial institutions such as GHIB for them to play an even bigger role in promoting intra-Africa trade. African Development Bank is delighted to partner with GHIB to support trade across Africa,” he added.
GHIB CEO Ian Greenstreet said, “This agreement with the African Development Bank represents a significant milestone for Ghana International Bank and our clients. It strengthens our ability to support businesses engaged in international trade and reinforces our commitment to facilitating economic growth and investment across Africa. As a UK-regulated bank with deep roots in Africa and strong international connections, GHIB is uniquely positioned to serve as a bridge between African markets and global capital. We are delighted to partner with the African Development Bank in support of increased trade and investment across the continent.”
Ghana International Bank is a Ghanaian-owned, UK-regulated bank with a core focus on trade finance.
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