Kenya and Ghana are strengthening cooperation to support small and medium-sized enterprises under the African Continental Free Trade Area framework following a high-level meeting between Ghana’s High Commissioner Paul Evans Aidoo and officials from Oya Microcredit.
The initiative reflects the growing push by African nations to collaborate across key industries under the framework of the African Continental Free Trade Area (AfCFTA), which seeks to create a single market for goods and services across the continent.
The engagement comes as African countries accelerate implementation of the African Continental Free Trade Area, a trade pact expected to boost intra-African trade and strengthen economic integration across the continent.
Expanding Opportunities for African Entrepreneurs
Both countries are working to strengthen economic ties and unlock new opportunities for entrepreneurs through cross-border trade, digital finance solutions and improved access to affordable credit.
During the engagement, Ghana’s High Commissioner to Kenya, Paul Evans Aidoo, commended Oya Microcredit for its commitment to providing accessible financing to entrepreneurs and underserved communities.
He noted that such initiatives play a crucial role in driving innovation, generating employment and supporting long-term economic development across the continent.
Strengthening SME Ecosystems Across Africa
The discussions also highlighted opportunities for cross-border cooperation aimed at strengthening SME ecosystems in Africa.
Among the proposals explored were:
- Knowledge-sharing initiatives between microfinance institutions in Ghana and Kenya
- Regional SME support programs
- Digital finance platforms to expand financial services to rural and underserved communities
According to the High Commissioner, partnerships between financial institutions and regional stakeholders could significantly empower local enterprises while reinforcing economic ties between the two nations.
Oya Microcredit Reaffirms Commitment to Inclusive Finance
For its part, Oya Microcredit reaffirmed its commitment to advancing inclusive finance and supporting SMEs as a catalyst for economic growth.
The institution also expressed interest in pursuing collaborative initiatives aligned with the development priorities of both countries and the broader goal of expanding financial inclusion across Africa.
“Oya Microcredit is committed to supporting entrepreneurs and businesses by providing financial solutions that drive economic growth and opportunity,” said Wycklife Ochola, Chief Executive Officer of Oya Microcredit.
“This engagement reflects our dedication to fostering partnerships that strengthen African trade and promote sustainable development.”
Regional Collaboration Key to AfCFTA Success
According to Kobbinah Awuah, the visit underscores the growing importance of regional collaboration as African countries seek to unlock the full potential of the AfCFTA.
The trade pact—considered the world’s largest free trade area by number of participating countries—aims to boost intra-African trade while strengthening economic linkages between East and West Africa.
Strengthened cooperation between Kenya and Ghana is expected to create new opportunities for entrepreneurs, expand access to finance and contribute to sustainable economic growth across the continent.
