Madina market fire: Alan Kyerematen vows to establish Traders Bank

The founder and leader of Movement for Change, Mr. Alan Kwadwo Kyerematen, has announced plans to introduce a policy intervention to support the private sector by establishing a Traders Bank in Ghana.

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 an impromptu 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.

Traders, he noted, 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.

As part of his campaign tour, Mr Alan Kwadwo Kyerematen visited various market centers across the country, recognizing that a majority of Ghanaians are involved in trading in some form.

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 centers 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 emphasized the importance of these modern market centers providing essential facilities such as clinics, childcare centers, and accompanying lorry stations, ensuring a conducive environment for commerce and trading to flourish safely.

Mr. Alan Kwadwo Kyerematen's commitment to addressing the needs of traders through policy interventions and infrastructure development underscores his dedication to supporting the private sector and fostering economic growth in Ghana.