Business News of Thursday, 30 May 2019
Cabinet has approved a masterplan for the redevelopment of the Ghana International Trade Fair Centre.
Chief Executive Officer (CEO) of the Trade Fair Centre, Dr. Agnes Adu, made this known on Thursday, May 30, at the Information Ministry’s media briefing in Accra.
According to her, management of the Trade Fair Centre was at the implementation stage of the Master plan.
She said the redevelopment of the Centre into a modern trade exhibition site is anticipated to take about three to five years.
The redevelopment is expected to be carried out in three phases, with phase one anticipated to lead to development of a 12,000-seater trade convention centre.
Modern hotels, retail shops, among others are expected to be built on the site
She told journalists that the redevelopment would result into a well-planned, mixed-use trade convention, with government expected to adopt a multi-developer and Public Private Partnership (PPP) arrangement for the project that envisaged to cost millions of dollars.
After the redevelopment, DGN Online is informed that Ghana would join the likes of Kenya, South Africa and Rwanda, as the countries with mixed use trade convention centres in Africa.
Nigeria is reportedly undertaking similar project, as the competition for Foreign Direct Investment (FDI) heats up within the Sub-region.
During the redevelopment, trade fairs are to be organized in the regions, she said.
The land on which the Trade Fair Centre is situated was acquired in 1967 by the Government of Ghana.
The Trade Fair Centre is a limited liability company owned by the Government of Ghana.