The Ghana Union of Traders Association (GUTA) has dismissed rumors that the Kantamanto market land is being sold to Chinese investors following the recent fire that devastated the area.
Speaking with The High Street Journal, GUTA President Dr. Joseph Obeng clarified that while such claims are circulating, they remain unverified and should not be taken as fact.
“The rumors about a Chinese takeover are just rumors for now,” Dr. Obeng said. He noted that the speculation has, fueled anxiety among traders, some of whom have begun rebuilding their structures to sustain their presence and prevent any perceived takeover. “The traders are acting out of fear to secure their spaces,” he added.
The devastating fire, which destroyed goods worth millions of cedis, has had widespread impacts on traders, many of whom are now facing severe financial challenges.
For several traders, their entire inventory and working capital were consumed in the blaze, leaving them unable to restart their businesses. Others have lost years of investment and goodwill built with suppliers and customers.
Additionally, the Kantamanto market fire has disrupted the livelihood of hundreds of families that depend on the income generated by trading activities in Kantamanto. Beyond the economic losses, the incident has caused psychological distress, as traders struggle to cope with the uncertainty of their future and the pressure to recover.
Compounding these challenges, the Gbese Stool, under the leadership of Paramount Chief Nii Ayi Bonte II, has issued a statement warning against the reconstruction of unauthorized structures on the Kantamanto land. The stool emphasized that the land belongs to them and not the government, announcing plans to collaborate with investors for its development. Traders have been cautioned against erecting temporary wooden structures without permission, with a task force set to enforce this directive.
In response to these issues, GUTA is urging the government to prioritize providing relief to traders to help them rebuild their livelihoods. The association believes that addressing these immediate concerns is critical, as the livelihoods of many depend on the market’s restoration. Dr. Obeng also emphasized that collaborative stakeholder engagement is necessary to resolve the complex concerns around the market and its ownership, ensuring fair outcomes for all affected.
To uncover the root cause of the fire, GUTA has also called for a forensic audit to determine the facts, dispel rumors, and hold those responsible accountable. This, the association believes, will not only bring clarity but also help prevent such incidents in the future.
The association reiterated its commitment to advocating for the rights of traders and ensuring their businesses remain protected.
