NAIROBI, Kenya, April 4 – Investments, Trade, and Industry Cabinet Secretary Rebecca Miano witnessed the signing of three trade memoranda of understandings (MoUs) between Kenya and Ghana.
One of the MoUs is 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.
The other is between the 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.
It also included an agreement between the Kenya Association of Manufacturers (KAM) and the Association of Ghana Industries, focusing on strengthening strategic alliances and business ties between the two nations.
Miano emphasized the enduring partnership between the two countries and highlighted the pressing need to stay ahead of evolving trends, shifting consumer demands, and disruptions.
She added that the 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,” the CS said while addressing the business community in Ghana.
“Kenya is a hub and a gateway into East Africa while Ghana is a hub and getaway into ECOWAS. Our partnership will enable hub-to-hub cooperation driving intra-African trade.”
Kenya’s 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 led by the Ministry of Investments, Trade, and Industry 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 the contribution of exports to GDP by 2027, double foreign direct investments, and increase the contribution of manufacturing to GDP to 20 percent by 2030.
The Kenyan delegation at the Ghana-Kenya Business Forum had representation from the main actors in business, including the KAM, the KEPSA, and the KNCCI, as well as 25 private sector delegates covering diverse sectors.
