GUTA Donates GH₵40k to Rebuild Kantamanto Market, Begs Banks to Reschedule Loan Repayment for Traders

Accra, Ghana - 09 Jan, 2025 - The Ghana Union of Traders Association (GUTA) has urged financial institutions to give traders affected by the devastating Kantamanto market fire on January 2, 2025, more time to repay their loans, citing the urgent need for support.

GUTA's First Vice Chairman, Clement Boateng, emphasized that rescheduling loan repayments would provide a crucial safety net for traders struggling to recover from the disaster in his address to the media  He also called on local authorities to allocate a portion of market revenues towards insurance schemes, protecting traders from future unforeseen disasters.

“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 stated.

In addition, GUTA is advocating for the government to partner with private sectors to develop modern, well-structured markets across the country. This move would enhance trading activities nationwide and provide traders with better facilities and opportunities.

To support the recovery efforts, GUTA has donated GH₵40,000 towards reconstructing the Kantamanto market. As traders begin the long process of rebuilding, they're looking to financial institutions and the government for critical support.

Source: Lead News Online