As part of the activities marking the three-day (3) State Visit to Ghana by the President of the Republic of Kenya, H.E. Dr. William Ruto, a Ghana-Kenya Business Forum was organised on Wednesday, 3rd April, 2024 to elevate the economic relations between the two countries. The Business Forum was held under the theme “Driving Investment and Intra-Africa Trade: The Ghana-Kenya Experience”.
The High-Level segment of the Business Forum was attended by His Excellency, President Nana Addo Dankwa Akufo-Addo and Kenyan President, His Excellency Dr. William Ruto.
In his address, President Nana Addo Dankwa Akufo-Addo, emphasised the importance for both countries to strengthen their business relations and urged the business communities to use the framework laid down by their respective policy makers to drive economic growth. President Akufo-Addo also highlighted the importance of science, technology, engineering and mathematics (STEM) in equipping African youth with the skills needed for the 21st century.
For his part, President Ruto recalled the strong bonds of friendship between Kenya and Ghana and assured that his country would continue to work to further deepen the relations. He encouraged African businesses to forge partnerships and explore opportunities under the African Continental Free Trade Area (AfCFTA) framework to increase intra-Africa trade. “As policy makers we will assist African businesses to grow, such that each and every business person looks at the horizon beyond Ghana, beyond Kenya and into the African market” he added.
The first session of the Ghana-Kenya Business Forum discussed ways to enhance economic relations between the two countries. The panel discussions focused on “Trade and Investment Opportunities for Ghana and Kenya”, and “The Guided Trade Initiative, the Push the African Continental Free Trade Area Needs: The Ghana and Kenya Experiences”. Further areas of collaboration in agriculture, manufacturing, tourism, Information, Communication and Technology, telecommunications, banking, insurance and energy were also discussed.
The Deputy Minister for Foreign Affairs and Regional Integration of the Republic of Ghana, Hon. Kwaku Ampratwum-Sarpong, in his opening remarks at the first session noted that the business forum was the first of its kind between the two countries and was hopeful that it would provide the opportunity for both countries to deepen relations in the area of trade and investment. He further indicated that the Government of Ghana was ready to collaborate with Kenya in the areas of marine and mineral resources development, among others.
The Principal Secretary of the State Department for Investment Promotion of Kenya, Mr. Abubakar Hassan Abubakar, stated that Kenya was also ready to collaborate with Ghana to enhance mutual economic development. He added that Kenya had put in place policies to increase trade and was hopeful that new partnerships would be forged between businesses for the advancement of trade and investment between the two countries.
Four (4) Memoranda of Understanding (MOUs) were signed between institutions from the two countries including the Ghana Institute of Management and Public Administration (GIMPA) and the Kenya School of Governance, the Ghana Investment Promotion Centre (GIPC) and the Kenya Investment Authority, the Association of Ghana Industries (AGI) and the Kenya Association of Manufactures (KAM) and the Ghana National Chamber of Commerce and Industry (GNCCI) and the Kenya National Chamber of Commerce and Industry (KNCCI). Present at the Business Forum were Senior Government officials, members of the Diplomatic Corps and the business community from the two countries.
A trade exhibition was also held as part of the Business Forum to help forge partnerships between the business community of Ghana and Kenya.