Kenya signs three MOUs with Ghana
Business
By
Fred Kagonye
| Apr 05, 2024
Kenya has signed three key trade-related Memorandum of Understanding (MoU) with Ghana.
The signing was done during President William Ruto's three-day visit to the West African nation where he attended the Ghana-Kenya Business Forum hosted by his Ghana counterpart Nana Akufo-Addo.
The forum sought to emphasize the transformative impact between the two nations and the wider African continent through collaboration between governments and the private sector.
One is on the Investment Promotion and Facilitation between the Kenya Investment Authority (KenInvest) and the Ghana Investment Promotion Center (GIPC).
READ MORE
MPs pass Bill banning hospital detention over unpaid bills
Kenya begins 42-day countdown to Ebola-free status
KRA moves to enforce 15 per cent minimum tax on multinational companies
When voters speak, politicians must listen: Lessons for Kenya in US midterm elections
State approves Sh96.95 M compensation for 157 protest victims
Trials intersex children undergo in quest for identity, acceptance
Mr President, you can't concede today and rewrite history tomorrow
This will focus on investment promotion, business facilitation, capacity building and mutual investments.
The second MoU is between the Kenya National Chamber of Commerce and Industry (KNCCI) and the National Chamber of Commerce and Industry (GNCCI).
The partnership is aimed at enhancing the private sector engagement to boost intra-African trade.
The third MoU is between the Kenya Association of Manufacturers and the Association of Ghana Industries which will focus on strengthening strategic alliances and business ties between the two nations.
According to Trade and Industry CS Rebecca Miano, the partnership between the two countries highlighted the pressing need to stay ahead of evolving trends, shifting consumer demands and disruptions.
She lauded the partnership between the Kenyan government and the private sector saying it reflects their commitment for an inclusive approach.
"Our perspective on mutual trade and investment opportunities, along with our support for industry players, will enable us to realize the growth we desire. Kenya is a hub and a gateway into East Africa while Ghana is a hub and getaway into ECOWAS. Our partnership will enable hub-to-hub cooperation driving intra-African trade," said Miano.
The collaboration is expected to capitalize on Kenya's textiles, pharmaceuticals, electrical appliances and furniture industries and Ghana's cocoa, textiles, machinery and data equipment.
According to Miano, Kenya aims to ease the cost of doing business and double the contribution of exports to GDP by 2027.
The country also aims to double Foreign Direct Investments and increase the contribution of manufacturing to GDP to 20 per cent by 2030.
Kenya pays more to move cargo as corruption, delays drive up costs, World Bank says
The World Bank report attributes the higher costs in Kenya to inefficiencies along the Mombasa-Nairobi transport corridor.Co-op Bank offers 90pc electric vehicle financing to matatu Saccos in green lending push
Co-operative Bank of Kenya has announced it has set aside Sh1.5 billion to finance the acquisition of electric public service (PSV) vehicle fleets by matatu Saccos.Vipingo Ridge leads Kenya's double triumph at World Golf Awards
Kenya celebrated a double triumph at the 2026 World Golf Awards after Vipingo Ridge was named Africa’s Best Golf Real Estate Venue, while Kenya won the continent’s Best Golf Destination.Nusrat Mohammed: The woman who made saving abused animals her calling
Nusrat Mohammed says every vaccination is an opportunity to change perceptions, save lives, and strengthen the connection between animal welfare and public health.One shot, no mistakes: How digital tech has killed the art of old-school filmmaking
Filmmaking depended on specialised equipment, technical precision and close coordination between camera, sound and laboratory teams.MOST READ
Kenya pays more to move cargo as corruption, delays drive up costs, World Bank says
BUSINESS