7 months ago
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Businesses in Ghana and Kenya have been urged to leverage investment opportunities in both countries offered under the African Continental Free Trade Area (AfCFTA) to boost economic trade.
According to speakers at the maiden Ghana-Kenya business forum, the AfCFTA and other structures, such as the establishment of a Ghana Trade House in Kenya, offered huge prospects for both countries.
Areas of possible collaboration proposed at the event included agriculture, manufacturing, tourism, Information Communication Technology and Telecom, banking, insurance and the energy sectors.
The speakers included Deputy Minister of Foreign Affairs and Regional Integration, Kwaku Ampratwum-Sarpong, and the Principal Secretary, State Department for Investment Promotion of Kenya, Abubakar Hassan Abubakar.
Others were the Chief Executive Officer (CEO) of the Ghana Free Zones Authority, Michael Oquaye Jnr, CEO of Association of Ghana Industries, Seth Twum- Akwaboah, and the Chair of Africa Health Business, Dr Amit Thakar.
Held in Accra yesterday, the forum, which brought together businesses from both countries, was on the theme “Driving investment and intra-African trade: the Ghana-Kenya experience”.
It was part of Kenyan President, William Ruto’s state visit to Ghana, and a follow up to the bilateral exposition held under the AfCFTA framework in Kenya last year.
Opening the forum, Mr Ampratwum-Sarpong said Ghana was ready to collaborate with Kenya in taking advantage of the mineral and marine resources available.
Mr Kwaku Ampratwum-Sarpong (inset) addressing participants in the business forum. Photo. Ebo Gorman
“These strategic anchor sectors are of significance to Ghana and it would be satisfactory to see partnerships forged in that area. A collaboration specifically in the green energy driven by technological advancements would likewise be of profound interest to Ghana,” he said.
According to the Deputy Minister, economic diplomacy had become crucial in the conduct of international relations and the government would explore avenues that encourage mutual growth and development.
He said Ghana’s experiences with economic development had emphasised the value of collaboration, cooperation and inclusivity towards development, and Kenya had demonstrated enthusiasm to strengthen economic ties.
“It is the desire of Ghana to seize the opportunity to share its experiences in its journey towards sustainable economic development, particularly in the context of the AfCFTA,” he said.
Mr Abubakar said Kenya was open, safe and ready for business and had therefore positioned itself well to collaborate with Ghanaian businesses that desired to spread their wings to the country.
From agriculture, manufacturing, construction to the digital space and their value chains, he said Kenya had enormous opportunities that must not pass Ghanaian businesses by.
He said the Kenyan government had put in place policies to increase volumes of production, especially along the agriculture value chain and incentivise stakeholders.
Mr Oquaye said despite the opportunities presented by the AfCFTA, issues such as free movement of goods and people, common currency and political unity needed to be addressed to maximise AfCFTA benefits.
For Dr Thakar, the two resources held by the two countries were enormous and a stronger collaboration would yield positive immerse results for the two countries.
BY JONATHAN DONKOR
