- Market Watch
- June 19, 2017
- 3 minutes read
Intra-African Trade set to be Boosted Kenya Trade Expo in Ghana
The trade expo targeting established and emerging businessmen is aimed at enhancing trade relations between Kenya and Ghana following seven…
Kenyan businessmen will have an opportunity to explore investment and trade opportunities in West Africa following a trade expo to be held in Ghana in November.
The trade expo targeting established and emerging businessmen is aimed at enhancing trade relations between Kenya and Ghana following seven key trade agreements signed between the two countries in December 2014.
The bilateral agreements were established to position Ghana as the gateway for trade to West Africa while Kenya will help in accessing the East African region.
Briefing the media Ghana’s acting High Commissioner to Kenya, Mr. Nuku Kamsa-Quarshie, said the expo will boost intra-African trade by enabling businessmen to explore trade opportunities in the two countries.
Kamsa-Quarshie said Kenyan’s manufacturers have a prime opportunity to explore business in Ghana following initiatives like free zones and building of one factory in every district which is 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%), services (27%), general trading (18%), building and construction (9%), agriculture (5%) sectors.
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 Ghanaians 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 the establishment of accelerator and incubator programs.
The expo to be held at the will involve a three-day workshop, keynote addresses, and B2B meetings. The Theme of the Expo is Breaking New Frontiers in Intra- Africa Trade.
Ms. Lee said the expo will also provide participants a platform for understanding business policies and procedures in both countries.
The first Annual Kenya Trade Expo in Ghana took place in 2015, attracting a crowd of over 2,000 emergings and established business people, government and non-government officials, and supporters.
According to the Export Promotion Council, Kenya in 2014 Kenyan exports to Ghana were valued at US$4.5 million against US$3.5 million.
Ghana has moved up from 114 to 108 in the Ease of Doing Business Ranking by the World Bank between 2014 and 2016.
According to the World Bank Doing Business Report, 2016 Ghana made trading across borders easier by upgrading infrastructure at the port of Tema and reducing the documentary and border compliance time for importing.