I’ll establish traders bank to support businesses — Kyerematen
The founder and leader of the Movement for Change, Alan Kwadwo Kyerematen, has stated that his administration will establish a traders bank to provide financial aid for market women and traders if he wins the 2024 presidential election.
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He noted that the bank, which would specifically cater to the needs of Ghanaian traders, would be a game-changer in the sector and revitalise the retail business.
He gave the assurance last Friday when he toured markets in the Central Region.
The tour took the former Minister for Trade and Industry to the Kasoa, Winneba, Agona Swedru, Mankessim, Cape Coast and the Elmina markets.
Lack of funds
While at the Kotokuraba and Abura markets, Mr Kyerematen expressed surprise at the lack of a dedicated financial institution for traders, despite their indispensability within the economic landscape. He emphasised the critical role traders played in the economy.
He also asserted that providing them with access to a bank of their own could substantially boost their businesses and livelihoods.
Addressing a crowd of enthusiastic traders, Mr Kyerematen reiterated his commitment to prioritising the establishment of the traders bank should he be elected as the president of the country.
He underscored the long-overdue nature of such an initiative, emphasising the immense potential it holds for empowering traders and driving economic growth at the grass-roots level.
According to him, the promise of a traders bank reflected his vision for inclusive economic development, where every segment of society, particularly those engaged in trade, has access to essential financial services.
Mr Kyerematen stated that the traders bank would provide much easier access to financing for traders and serve as a catalyst for business expansion and innovation within the trading community.
“This, in turn, could contribute to job creation, poverty reduction and overall socio-economic development across the country,” he stressed.
Traders’ perspectives
Many traders welcomed the idea of a dedicated bank, viewing it as a game-changer that could alleviate financial constraints and enable them to seize new opportunities for growth and improved living conditions.
The traders added that they see such an initiative as a tangible step towards addressing their longstanding financial challenges.
According to the traders, if realised, the establishment of a traders bank could represent a significant milestone in Ghana’s journey towards building a more resilient and equitable economy.
