The National Investment Bank (NIB) has been tasked by the government to roll out tailored financial support packages for traders whose businesses were devastated by the Kantamanto Market fire earlier this year.
The announcement was made at a ceremony marking the full reopening of the market, months after the January 2 inferno destroyed over 7,000 shops and disrupted the daily trade of more than 30,000 traders.
Deputy Chief of Staff, Nana Oye Bampoe Addo, said the intervention reflects the government’s recognition of Kantamanto’s central role in Ghana’s commercial ecosystem.
“This market is more than a place of trade. It is the lifeline of thousands of Ghanaian families, the beating heart of trade, business, and commerce in Accra. Today, we salute you for your resilience. We salute you for refusing to be defeated after the January 2nd fire and for choosing to rebuild Kantamanto, keeping the hope of 30,000 traders alive.
“The reopening of Kantamanto Market marks the beginning of a stronger, safer chapter for all who depend on it. His Excellency John Dramani Mahama and all of us personally pledge our support,” she said.
The government’s directive to NIB is expected to provide traders with much-needed liquidity to restock goods, replace equipment, and strengthen working capital, ensuring the market remains vibrant and competitive. Analysts note that beyond immediate relief, access to affordable credit will be crucial in building resilience against future shocks.
Meanwhile, the Kantamanto ‘Obroniwawu’ Businesses Association acknowledged the role of private partners in accelerating the market’s revival. Its General Secretary, Adutwum Atta Manu, singled out The Or Foundation, a non-profit organisation, for donating 1,000 fire extinguishers to enhance safety standards in the market.
The Foundation’s intervention, coupled with the government’s financing support, is expected to set the tone for improved disaster preparedness and long-term sustainability in one of West Africa’s busiest secondhand clothing and general goods markets.
Kantamanto Market, which has long been a hub for both local traders and international buyers, is seen as a bellwether for Ghana’s informal economy. Its restoration is therefore being watched closely by policymakers and financial institutions alike.
