Business News of 2014-05-05

Prez Mahama promises ultra-modern market for Kumasi

President John Dramani Mahama on Saturday announced that government was finalizing arrangements with the Brazilian government to construct an ultra-modern market at the site of the Kumasi central market.

He said the market, which would be a model one in the entire West African Sub region, would also serve neighboring countries, considering the centrality of Kumasi.

President Mahama announced this when he called on Otumfuo Osei Tutu II at the Manhyia Palace as part of his three-day official visit to the Ashanti Region. The programme was also attended by all Divisional Chiefs and sub- Chiefs of the Traditional Area, as well as hundreds of supporters of the National Democratic Congress (NDC).

On the first day of his visit, President Mahama inspected construction works at the Kumasi Airport project, visited the revamped Defence Industries Holding company Limited where he promised to support the company to increase production.

President Mahama who attributed the country’s economic hardships to the fall in prices of Ghana’s export commodities on the international market, said other countries such as Greece, Spain, South Africa, Ireland, Nigeria among others were suffering similar faith.

He said between 2012 and this year Ghana had lost about $ 1.3 billion dollars on account of low prices in the country’s major exports. He appealed to Ghanaians to put their hands on deck to achieve national goals, adding that blame game and pessimism would not propel the country to achieve the desired development targets.

President Mahama indicated that government’s current austerity measures were meant to stabilize the economy and appealed to Ghanaians to bear with the situation.

Nana Wiafe Akenten III, Paramount Chief of the Offinso Traditional area who spoke on behalf of OtumfuoNana Osei Tutu appealed to all Ministers of State to play their roles effectively and to support the President to attain national development.

He appealed to government to complete the Sofoline interchange and reconstruct Kejetia to ease the perennial congestion in the area.

Source: GNA
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