Business / News
Monday, 19 Jun 2017 16:54 EATlmwihaki@kenyafreepress.com
Kenyan businessmen will have 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 explore trade opportunities in the two countries.
Kenya Trade Expo Ghana co-founder Leah Nduati Lee and Ghana's High Commission acting head of mission Fred Nuku Kamas-Quashie after addressing the press.
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.
The founder of the Kenya Trade Expo Ghana, Ms Leah Nduati Lee, said the event will help link Kenyan and Ghanaian businesses 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 African 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 expo 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 with a platform for understanding business policies and procedures in both countries.
The first Annual Kenya Trade Expo in Ghana took place in 2015, attracting over 2,000 emerging and established business people, government and non-government officials and supporters.
According to the Export Promotion Council of 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 the World Bank Doing Business Report 2016 Ghana made trading across borders easier by upgrading infrastructure at the port of Tema, and reducing the documentation and border compliance time for imports.