Ghana to review laws to implement Accra Convention – Ofosu-Adjare
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, says Ghana will review its laws to facilitate the implementation of the Accra Convention on Negotiable Cargo Documents, a move expected to improve businesses' access to trade financing. Speaking at the signing ceremony in Accra, she said the Convention would address inequalities in access to credit, particularly for…
Ghana's Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, announced that the country will review its laws to facilitate the implementation of the Accra Convention on Negotiable Cargo Documents. This move aims to improve businesses' access to trade financing by addressing inequalities in accessing credit, particularly for businesses transporting goods by road.
The Convention introduces a negotiable document of title for goods in transit, allowing the holder to claim the goods and transfer the associated rights to another party, providing protections for buyers and banks that rely on the document in good faith. Ghana intends to complete the necessary constitutional processes and deposit its instrument of ratification among the earliest signatories, with the government collaborating with various ministries and institutions to ensure effective implementation.
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