The Ghanaian government has reaffirmed its commitment to completing the Takoradi Market Circle redevelopment project, which has been stalled since 2023. The project, initiated in 2020, aimed to replace the old market structure, built in the 1920s. Minister for Local Government, Chieftaincy and Religious Affairs, Mahama Ayariga, made this assurance during a visit to the project site. He was briefed on the current state of work and challenges affecting the project's completion.
The project stalled due to Ghana's debt restructuring programme, leaving an outstanding €18 million owed to the contractor. A new funding arrangement is being pursued to settle this debt, allowing the contractor to return to site within the next two months. The government expects construction works to resume shortly and the project to be completed within one year after the contractor returns.
The Takoradi Market Circle redevelopment project was initiated under the previous New Patriotic Party (NPP) administration. However, the project has not progressed since the National Democratic Congress (NDC) assumed office almost two years ago. The NDC's then presidential candidate, John Mahama, had promised traders in Takoradi that his government would complete the project if elected.
During his visit, Minister Ayariga toured the project site, inspecting the current state of work and discussing challenges with the project consultant and contractor representatives. He expressed optimism about the new funding arrangement and its potential to facilitate the project's completion.
To support traders, commercial banks will be engaged to help them pay re-entry fees, enabling a smooth occupation of the facility upon completion. This move aims to ensure that traders can easily occupy their new stalls once the project is finished.
Minister Ayariga also inspected the Assembly's landfill site at Sofokrom in the metropolis, familiarizing himself with its operations. He assured that his ministry is committed to improving the management of the landfill site to enhance environmental sanitation and sustainable waste management in the metropolis.
The government's commitment to completing the Takoradi Market Circle redevelopment project brings hope to traders and residents who have been waiting for the project's completion. The project's revival is expected to boost local economic activity and provide a modern market facility for traders.
Key points
- The Ghanaian government has pledged to complete the stalled Takoradi Market Circle redevelopment project.
- A new funding arrangement is being pursued to settle the outstanding €18 million owed to the contractor.
- The project is expected to be completed within one year after the contractor returns to site.
