Business News Tue, 18 Aug 2015

Assembly wants investors to build shopping Mall

The New Juaben Municipal Assembly has indicated a move to build a shopping Mall in Koforidua to decongest the central business district.

In a briefing with the GNA, the Municipal Chief Executive, Dr Kwaku Owusu-Acheampong, said the site had been identified, but the financial cost was huge.

He, therefore, urged investors to partner the Assembly to build the mall.

The mall, when completed, would be the first shopping centre of its kind in the Eastern Region. It is expected to boost economic activities in the Region and to position it as the second choice of destination after the Greater Accra Region.


According to the MCE, the mall would be located at the Koforidua Old-Estates, the premises of the Timber Market in line with Planning of the Municipality to become a well-planned area in terms doing business as well as to boost tourist attraction in the Region.

He said plans were advanced to relocate the Timber Market to Nyame-Krom, a suburb of Koforidua, to make way for the project.

Touching on Revenue generation, he said the Assembly had contracted consultants to work on automation of revenue collection and expressed the hope that from year, all the Assembly’s revenue collection would be done electronically.

That move, he explained, was to ensure that all monies collected by the Assembly were accounted for and also to meet their set target for Internally Generated Funds (IGF).

Source: GNA