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Kenyan traders eye Ghana’s trade Expo to boost economic ties

by: Category: Agriculture, Construction, East Africa, Energy, Featured, In Focus, Industry A+ / A-

Kenyan traders are eyeing the upcoming trade expo in Ghana (in its second edition) to explore investment and trade opportunities in the West African nation.

The trade expo which is targeting established and emerging businesses or startups is aimed at enhancing trade relations between Kenya and Ghana following seven key trade agreements signed between the two countries in December 2014.

Themed Breaking New Frontiers in Intra- Africa Trade, the expo is slated for November, 2017 and will be held in the country’s capital, Accra and is expected to boost trade ties between the two countries which  have been sluggish despite numerous existing opportunities between the duo.

Ghana’s acting High Commissioner to Kenya, Mr. Nuku Kamsa-Quarshie, said the expo will boost intra-African trade by enabling businessmen explore trade opportunities in the two countries.

Kamsa-Quarshie said Kenyan’s manufacturers have prime opportunity to explore business in Ghana following initiatives like free zones and building of one factory in every district which are meant to enable manufacturers from outside set-up profitable ventures.

“Ghana is now embracing private-sector driven, tertiary education with a surge of Private Universities having come up in the last 4-5 years. However, there is no Tertiary institute for the Hospitality industry which causes a great gap when it comes to Tourism Development. Ghana is ideally placed to become a hub for Hospitality training in West Africa just as Kenya is for East Africa,” said Kamsa-Quarshie.

According to the Ghana Investment Promotion Centre between 1994 and 2015, Kenya companies in the country invested in manufacturing 41 per cent services 27 per cent, general trading 18 per cent, building and construction 9 per cent, agriculture 5 per cent sectors.

Available figures show that over 30 startups from Kenya have operations in Ghana.

The founder of the Kenya Trade Expo Ghana, Ms Leah Nduati Lee, said the event will help link businesses between Ghana and Kenya directly, resulting in tangible and measurable Intra-Africa trade.

Ms Lee said Kenyans and Ghanians can profitably engage in knowledge sharing, joint ventures and partnerships.

“Ghana and Kenya are uniquely positioned to act as role models to other African Nations, of how Intra-Africa trade can strengthen our Africans Economies,” she said.

Mrs Lee said Ghana’s Ministry of Business Development is targeting to drive entrepreneurship through establishment of accelerator and incubator programs.

The trade expo comes in the wake of numerous challenges still standing in the way of intra-African trade.

Key among the upheavals include high tariffs, high costs of air travel as well cumbersome trade routes being faced by African traders.

 

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Business Journalist since 2009, has worked for Financial Post, Standard Media Group, Business Journal and People Daily.

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