Business News of 2014-05-10

Four bids received for Trade Fair

The Ministry of Trade and Industry says it has received four bids from various companies with regard to transformation of the Ghana International Trade Fair into an international trade convention centre.

Trade Minister Haruna Iddrisu said two French companies, and one each from Brazil and United Arab Emirates, have expressed interest in turning around the fortunes of the deteriorating trade centre.

The state of the 127-acre facility has fast deteriorated, prompting calls for a massive investment that will restore the centre into its former glory.

Swearing in the board of the Ghana Trade Fair Company, Mr. Iddrisu said the needed documentation on the Ghana International Trade Fair Centre is being assembled to firm-up the deal.

The board's role is to establish the merit of the proposals brought forward by these companies, and advise accordingly as to what is suitable for government.

“The desire of the government is to convert the centre into an international trade convention centre. The task of the new board is to see through the initiation of policies that will re-establish the Ghana Trade Fair Company under a public private partnership, or government to government initiative, as a major international trade convention centre in the sub-region,” he said.

Mr. Iddrisu said the redeveloped centre will contain a world-class hospitality centre, a shopping mall and other ancillary services.

The nine-member board is chaired by Hannah Amoateng. The members of the board are Nii Kpobi Tsuru II, La Mantse; Benita Sena Okity-Duah (MP for Ledzorkoku-Krowor); Mrs. Rosalind Kudoadzi; and Mrs. Comfort A. Adjei.

The rest are Annie Letsu-Tetteh; Mrs. Haboba A. Tanko; Joshua H. Akamba; and Ebenezer Okpotey Koney. The Board Chairperson said the Trade Fair Centre under her leadership should see a turnaround in its fortunes. Ms. Amoateng said the Ghana Trade Fair Company will pursue policies that will endear it to major partners.