Madina market fire: Alan Kyerematen vows to establish traders bank to address needs of affected traders
The founder and leader of Movement for Change, Mr. Alan Kwadwo Kyerematen, has announced plans to establish a Traders Bank in Ghana to support the private sector.
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This move is intended to address the specific needs of traders and enhance their access to credit and loan facilities.
Mr. Kyerematen emphasized the importance of traders in the country's development and pledged that their welfare would be a priority for any government under his leadership.
He made these remarks during a visit to the Madina market after fire ravaged parts of the market to express sympathy and support to those affected by a recent fire outbreak.
He was visiting market centres across the country, recognizing that a majority of Ghanaians are involved in trading in some form. During his visit to the Madina market, he noted that traders serve as the crucial link between producers and consumers, but sustaining themselves in trading requires access to finance at affordable rates.
To address this challenge, Mr. Kyerematen committed to establishing a Traders Bank, owned by traders themselves, which would understand the dynamics of trading and provide accessible credit and loan facilities.
He stressed the need for the welfare of traders to be a top priority for the government. In addition to establishing the Traders Bank, Mr. Kyerematen outlined plans to revolutionize retail market infrastructure by building new market centres throughout the country.
While acknowledging that government resources alone might not suffice for this endeavour, he pledged to support the private sector in constructing these facilities through incentives.
Furthermore, he highlighted the importance of these modern market centres providing essential facilities such as clinics, childcare centres, and accompanying lorry stations, ensuring a conducive environment for commerce and trading to flourish safely.