Clement Boateng, the First Vice-Chairman of the Ghana Union of Traders Association (GUTA), has contributed GH₵40,000 to aid in the rebuilding of the Kantamanto market, which was severely damaged by a fire that occurred on January 2, 2025, at approximately 1 a.m.
While making the donation, Mr. Boateng highlighted the necessity for banks to adjust loan repayment schedules for traders impacted by the blaze.
He called on financial institutions to rethink their repayment plans to alleviate some of the pressure on the traders who were affected.
Additionally, he requested that Metropolitan and Municipal Assemblies set aside part of the revenues collected from traders for insurance programs. He believes this would serve as a protective measure against similar unexpected incidents in the future.
“I would like to take this chance to reach out to the banks, as I’m aware many individuals here have obtained loans from them. Therefore, my plea is directed to all financial institutions that our members have borrowed from, to reconsider the terms of these loans, allowing for an extension of the repayment period for some relief.
“For a while now, our country has lacked adequately structured markets. Nearly all existing markets have been established by local people. This is a crucial moment for the government to work in partnership with the private sector to develop more well-designed markets for Ghanaians to conduct their business,” Joseph Paddy, the Director of Communications for GUTA, remarked.
