The Ghana Union of Traders Association (GUTA) has appealed to financial institutions to reschedule loan repayments for traders at the Kantamanto market, following the devastating fire outbreak.
The First Vice Chairman of GUTA, Clement Boateng made the appeal while speaking to journalists after they donated GH₵40,000 to support the reconstruction of the market.
“I will take this opportunity to appeal to the banks because I know that there are a lot of people here who have taken some facilities from the bank.
“So, I want to make an appeal to all the financial institutions that our members have taken facility from, to please reschedule their facility arrangement, so that the time that they are supposed to repay the facility will be extended for them to have some bit of respite,” he said.
Mr. Boateng also called on the District, Metropolitan and Municipal Assemblies(MMDAs) to allocate some of the fees collected from traders for insurance schemes.
He emphasised that such measures serve as a safety net during unforeseen crises.
“Sit down with GUTA and consider an amount that we are paying for the business operating permit, that amount should be set aside to sign on to an insurance package, so that in times like this, our people will not be found wanting,” he added.
Furthermore, the Director of Communications of GUTA, Joseph Paddy urged a collaboration between government and the private sector for a well-structured market system to enhance trading activities nationwide.
He stressed that government’s involvement is essential in creating resilient and sustainable trading environments.
“Over some period of years now, we have not had a well-structured market in the country. Almost all the market we have are made by the indigenes.
“Only very few local markets. This is the time for government to collaborate with the private sector, so that we can build more well-structured markets for Ghanaians to trade,” he noted.
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