Kenya, Ghana sign deal on investment

What you need to know:

  • Ms Mohamed spoke from Kenya’s embassy in Addis Ababa, Ethiopia ahead of the 22nd Ordinary Summit of the African Union Heads of State and Government which is expected to open on Thursday.

Kenya has signed a deal with Ghana to enhance trade and investment as part of an ongoing government drive to strengthen economic ties with other African countries.

The agreement, signed in Addis Ababa Wednesday by Foreign Affairs Cabinet Secretary Amina Mohamed and her Ghanaian counterpart Hanna Tetteh, is expected to pave the way for greater co-operation in the energy, agriculture, education and tourism sectors. It will further cover cooperation in security, foreign affairs and judicial matters.

Ms Mohamed also committed the country to setting up a high commission in Ghana. “She said the potential for trade between the two countries is enormous and disclosed that Kenya will open a high commission in Ghana within the first half of the year,” reads part of a statement from the Presidential Strategic Communication Unit (PSCU).

Ms Mohamed spoke from Kenya’s embassy in Addis Ababa, Ethiopia ahead of the 22nd Ordinary Summit of the African Union Heads of State and Government which is expected to open on Thursday.

While welcoming the agreement, representatives of Kenya’s private sector said it needs to be backed up by tangible investments geared at reducing the cost of trade between the two countries.

“The agreement is a good symbol. However, our biggest problem is logistics. There is demand for goods on both sides but getting them across is very expensive,” said Kenya Private Sector Alliance (Kepsa) chairman, Mr Vimal Shah.