President Akufo-Addo has assured traders at Makola Market in the Central Business District (CBD) that his administration was working assiduously to rehabilitate the Market and improve conditions to boost trading activities.
The President who was addressing traders in the market on day two of his three-day tour of the Greater Accra commended the Metropolitan Chief Executive of Accra, Mohammed Adjei Sowah, for the initiative to rehabilitate the market and asked the traders to have faith in him to complete the project.
"He has done a good job to undertake a project to rehabilitate Markets in the city, and I assure you that we are going to rehabilitate and redevelop Market in the city.
“Mr Mayor well done, good, congratulation, very good initiative,” the President said.
The President expressed concerns over the high-interest rate and disclosed that, the government was working closely with the Bank of Ghana (BOG) to find a lasting solution to the phenomenon in due course.
President Akufo-Addo appealed to the traders to exercise patience with his government to resolve issues regarding the defunct Microfinance companies.
The President who later met leadership and members of Ghana Union of Traders Association (GUTA) as part of his tour also assured them that the law favours them in the matter regarding foreigners engaging in retail business and urged them to allow the ongoing consultations between them, the Trade Ministry and Ghana Immigration Service, to be completed in order to find a lasting solution to the problem.
“People cannot take the law into their own hands and enforce the law. If we do that, Ghana will become chaotic. We have to be careful about this phenomenon of taking the law into our own hands about situations that government is yet to resolve” President Akufo-Addo said.
“Please allow the work that the Trade Minister and the Committee are doing with the Immigration Authorities to progress. I am confident that if we allow same to work, your issues with foreign participation in the retail business will soon be a thing of the past in line with the law” President Akufo Addo added.
The Minister for Trade and Industry, Alan Kyeremanten, emphasised the importance of traders in the Ghanaian economy and assured that they would reap the benefits associated with low interest rate soon.
Earlier, the President through the Ministry of Fisheries, the Coastal Development Authority (CODA), the Agricultural Development Bank (ADB) and CFAO, presented some 6,336 outboard motors and other fishing equipment to fisher folk in the region being the first batch of outboard motors, out of a total of 10,000, to be distributed to fisher folk at subsidised prices.