The Ghana International Bank Plc (GHIB) has signed a Confirming Bank Agreement with the African Development Bank (AfDB) under the Transaction Guarantee Instrument.

The move is expected to strengthen trade financing and support businesses engaged in cross-border commerce across Africa.

The agreement will enhance GHIB’s ability to support importers, exporters and financial institutions, while helping businesses access international markets, strengthen supply chains and drive sustainable economic growth.

GHIB joins a select group of financial institutions approved under AfDB’s eligibility criteria, reinforcing its position as a key partner in facilitating trade and finance on the continent.

The partnership also aims to support intra-African trade, private-sector growth, and efforts to bridge Africa’s persistent trade finance gap.

Chief Executive Officer of GHIB, Ian Greenstreet, described the agreement as a major milestone for the bank and its clients.

“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,” he said.

He added that as a UK-regulated bank with strong African roots and international connections, GHIB is well placed 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, investment and economic opportunity across the continent,” Mr Greenstreet stated.

Vice President for Private Sector, Infrastructure and Industrialisation at the AfDB, Solomon Quaynor, said the partnership would help expand trade opportunities, particularly in low-income countries and transition states.

“AfDB is delighted to partner with GHIB to support trade across Africa, especially in low-income countries and transition states such as Sierra Leone, The Gambia, Guinea and Liberia, among others,” he said.

Mr Quaynor noted that GHIB’s role in providing confirming bank support to local banks aligns with the AfDB’s goal of promoting regional integration and advancing the implementation of the African Continental Free Trade Area (AfCFTA).

“AfDB 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. We look forward to building a broader and stronger partnership with GHIB,” he added.

The agreement is expected to widen access to trade finance, increase support for cross-border transactions and further strengthen GHIB’s role as a banking partner for businesses operating across Africa and international markets.