The redevelopment project
The National Democratic Congress (NDC) government has reaffirmed its commitment to completing the Takoradi Market Circle redevelopment project.
It said a new funding arrangement is being pursued to settle the outstanding €18 million owed the contractor.
According to the government, the proposed funding mechanism is expected to facilitate the contractor’s return to site within the next two months.
The Minister for Local Government, Chieftaincy and Religious Affairs, Mahama Ayariga, disclosed this when he inspected the project which has been stalled since 2023.
The redevelopment of the Takoradi Market Circle was initiated in 2020 under the previous New Patriotic Party (NPP) administration to replace the old market structure, which was constructed in the 1920s.
However, construction works were suspended in early 2023 following the government’s debt restructuring programme, leaving the project unfinished.
Prior to the 2024 general election, the then presidential candidate of the NDC, John Mahama, promised the traders in Takoradi that his government will complete the project when the party comes to power.
However, almost two years after the NDC assumed office, nothing has happened to indicate that the project will continue.
During the visit, the minister toured the project site and was taken around by the project consultant and representatives of the contractor.
They briefed him on the current state of work and the challenges affecting the completion of the project.
The minister expressed optimism about the new funding arrangement and said the government expects construction works to resume shortly and the project to be completed within one year after the contractor returns to site.
He mentioned that commercial banks would be engaged to support the traders in paying their re-entry fees, to enable a smooth occupation of the facility upon completion.
As part of his visit, the minister also inspected the Assembly’s landfill site at Sofokrom in the metropolis to familiarise himself with the operations of the facility.
He assured of his ministry’s full commitment to improving the management of the landfill site to enhance environmental sanitation and sustainable waste management in the metropolis.
From Emmanuel Opoku, Takoradi