
PRINCIPAL SECRETARY -MSMEs
February 21, 2025 at 03:29 PM
Kenya and Ghana Strengthen Economic Ties to Expand MSME Sector.
The PS for MSMEs Development, Hon. Susan Mangeni, engaged with officials from the Ghana Embassy in Kenya, led by the Ghanian High Commissioner, Damptey Bediako Asare to explore ways of strengthening trade relations between the two nations. The meeting focused on empowering MSMEs, improving access to credit, and leveraging the African Continental Free Trade Area (AfCFTA) to unlock new business opportunities.
Mangeni emphasized that MSMEs form the backbone of both Kenya and Ghana’s economies but continue to face significant challenges, particularly in financing and market access. She underscored the commitment of both governments to address these challenges through strengthened bilateral agreements, improved trade policies, and the creation of an enabling business environment.
As two leading economies in Africa, Kenya and Ghana share a longstanding relationship dating back to the era of Kwame Nkrumah. Over the years, both nations have demonstrated commitments to deepen collaboration in trade, investment, and economic policies. AfCFTA has been identified as a key enabler in facilitating smoother trade relations and enhancing economic integration across Africa.
Ghana’s key industries, including cashew nuts, cocoa, and other agricultural exports, present opportunities for Kenyan businesses to expand into the Ghanaian market, while Kenyan's key value chains acts a entry point to the Ghanian market.
Both parties acknowledged the significance of trade fairs and business forums as crucial platforms for fostering collaboration and market expansion.
Efficient port operations, reduced customs duties, and the benefits of direct flights between Kenya and Ghana were emphasized as key facilitators of seamless trade. Additionally, the leaders discussed the need to eliminate barriers hindering MSMEs from accessing credit, ensuring a more inclusive economic environment.
“With direct flights between our countries and a growing demand for intra-African trade, we must invest in logistics, simplify trade processes, and ensure that Kenyan and Ghanaian businesses can seamlessly engage in cross-border commerce,” Mangeni stated.
Empowering MSMEs remains a priority for both governments, with discussions focusing on strategies to scale up their operations. The role of economic protocols, GDP growth, and youth employment in driving private sector expansion was highlighted. The two nations also compared business environments, emphasizing the need for improved infrastructure and regulatory frameworks to attract and sustain investments.
The PS emphasized financing programs and bilateral agreements as essential tools for enhancing investment opportunities.
Additionally, she also acknowledged the role of political goodwill in fostering a favorable economic climate.
The discussions also highlighted the importance of economic empowerment and job creation, ensuring that entrepreneurs in both countries benefit from the growing trade ties. The two nations plan to work closely to translate these discussions into actionable policies that drive sustainable economic growth and foster deeper economic integration in the region.
The meeting concluded with a renewed commitment to strengthening trade relations and supporting MSMEs through favorable policies. Both parties agreed on the importance of strategic partnerships and active participation in trade forums. Further discussions and follow-ups were recommended to solidify economic ties and address any challenges in implementation.
The engagement marks a crucial step in enhancing economic cooperation between Kenya and Ghana, reinforcing the shared vision of a prosperous and interconnected African economy.