Takoradi Central Market closed for redevelopment work

The Sekondi-Takoradi Metropolitan Assembly (STMA), has closed down the Takoradi Central Market, popularly known as Market Circle.


The directive given by the mayor of the assembly was issued at a stakeholder engagement with the leadership of the traders at Takoradi.

It follows a long-standing disagreement between the STMA and the traders over their relocation to a new market.

President Nana Addo Dankwa Akufo-Addo cut the sod for work to begin on the 48 million euros redevelopments of the Takoradi market circle.

The construction of the Takoradi Market Circle is a forty-eight million-euro (€48 million) project, which is being financed by an export credit from Deutsche Bank S.p. an Italy, with export credit guarantee support from SACE, the Italian Export Guarantee Agency.

It will be undertaken by Messrs Contracta Costruzioni Italia SLR and will be completed within thirty (30) calendar months. It will have the following two thousand, four hundred and eight (2,408) stores; thirty-three (33) restaurants and food courts; bulk breaking areas; visitors parking; union offices; police station; fire station; post office; clinic; administrative offices; waste separation dock; and changing rooms for staff.

The 90-year-old market space is expected to be handed over to a contractor by May 10, 2021, for the commencement of redevelopment works.

The Takoradi Central Market is the biggest commercial centre in the Western Region.

When refurbished, it will have 2,408 stores; 33 restaurants and food courts, bulk breaking areas, visitors parking, union offices, police station, fire station, post office, clinic, administrative offices, waste separation dock, and changing rooms for staff.

The project is expected to be completed in thirty calendar months.

However, some traders at the Takoradi market circle have welcomed the idea of occupying the temporary market sites to make way for the redevelopment of the market.

The relocation of traders in and around the Takoradi central market to temporary sites within the Metropolis begun two weeks ago with over four hundred traders already settled.

Some traders said they were happy that the assembly had put up a place for them rather than allowing them to wander in despair.


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