Kenya, Ghana strengthen ties by signing key trade MoUs

It underscores Kenya’s dedication to driving sustainable growth and mutual prosperity with Ghana.

In Summary
  • In her address during the meeting Trade Cabinet Secretary Rebecca Miano emphasized the enduring partnership between the two countries.
  • The signing of the frameworks followed a meeting for the business community from the two countries dubbed Ghana-Kenya business Forum.
Defence Cabinet Secretary Aden Duale (left), her Trade counterpart Rebecca Miano, Prime Cabinet Secretary Musalia Mudavadi and President William Ruto together with host Nana Akufo and other leaders during the Ghana-Kenya business meeting in Accra on April 3, 2024.
Defence Cabinet Secretary Aden Duale (left), her Trade counterpart Rebecca Miano, Prime Cabinet Secretary Musalia Mudavadi and President William Ruto together with host Nana Akufo and other leaders during the Ghana-Kenya business meeting in Accra on April 3, 2024.
Image: COURTESY

Kenya and Ghana have solidified their commitment to enhancing economic cooperation through the signing of crucial trade agreements.

The Memoranda of Understanding (MoUs) signed during President William Ruto’s visit to the nation underscores Kenya’s dedication to driving sustainable growth and mutual prosperity with Ghana.

The three frameworks include MoU on investment promotion and facilitation between Kenya Investment Authority (KenInvest) and Ghana Investment Promotion Center (GIPC), focusing on investment promotion, business facilitation, capacity building and mutual investments.

Also signed is the MoU between Kenya National Chamber of Commerce and Industry (KNCCI) and the National Chamber of Commerce and Industry (GNCCI), aimed at enhancing private sector engagement to boost intra-African trade.

Kenya Association of Manufacturers (KAM) also signed a MoU with Association of Ghana Industries, focusing on strengthening strategic alliances and business ties between the two nations.

The signing of the frameworks followed a meeting for the business community from the two countries dubbed Ghana-Kenya business Forum.

Ruto and his host Nana Akufo, along with their respective Trade ministers attended.

President William Ruto with his host Nan Akufo with their Trade ministers and other leaders pose for a photo after a meeting in Accra on April 3, 2024.
President William Ruto with his host Nan Akufo with their Trade ministers and other leaders pose for a photo after a meeting in Accra on April 3, 2024.

It emphasizes the transformative impact intended for both countries and the wider African continent through collaboration between private sector and government.

In her address during the meeting Trade Cabinet Secretary Rebecca Miano emphasized the enduring partnership between the two countries.

“We have to stay ahead of evolving trends by shifting consumer demands, and disruptions,” Miano said.

The go-to-market strategy exemplified by forums also underscores Kenya's commitment to engaging with stakeholders and fostering mutually beneficial relationships, she noted.

She highlighted that blending of government agencies and private sector entities reflects Kenya's inclusive approach, ensuring that no one is left behind.

"Our perspective on mutual trade and investment opportunities, along with our support for industry players, will enable us to realize the growth we desire. Kenya is a hub and a gateway into East Africa while Ghana is a hub and getaway into ECOWAS,” she noted.

“Our partnership will enable hub-to-hub cooperation driving intra-African trade." 

Kenya has a competitive advantage in textiles, pharmaceuticals, electrical appliances and furniture complements Ghana's strengths in cocoa, textiles, machinery and data equipment.

The active pursuit of partnerships with the private sector is central to Kenya's trade and investment strategy.

By leveraging innovative thinking, diverse expertise and intimate knowledge of the private sector, Kenya aims to ease the cost of doing business, double contribution of exports to GDP by 2027, double Foreign Direct Investments and increase contribution of manufacturing to GDP to 20 percent by 2030.

The Kenyan delegation at the Ghana-Kenya Business Forum had representation from the KAM, Kenya Private Sector alliance (KPSA) and (KNCCI) and other main actors from 25 private sector delegates covering diverse sectors.

WATCH: The latest videos from the Star