The Ghana Union of Traders Association (GUTA) has called on financial institutions to extend the repayment deadlines for loans secured by traders affected by the devastating fire at Kantamanto on Thursday, January 2, 2025.

Addressing the media, GUTA’s First Vice Chairman, Clement Boateng, emphasized the urgent need for financial institutions to provide relief by rescheduling loan repayment timelines for the affected traders.

Mr. Boateng also urged Metropolitan and Municipal Assemblies to allocate a portion of the revenues collected from traders toward insurance schemes. He noted that such measures would serve as a safety net against future unforeseen disasters.

“I will take this opportunity to appeal to the banks because I know that there are a lot of people here who have taken some facilities from the bank. So, I want to make an appeal to all the financial institutions that our members have taken facility from, to please reschedule their facility arrangement, so that the time that they are supposed to repay the facility will be extended for them to have some bit of respite.

In support of the appeal posed by the First Vice Chairman of GUTA, the Director of Communications of GUTA, Joseph Paddy urged the government to collaborate with private sectors to enable the provision of well-structured markets for Ghanaians to enhance trading activities nationwide.

“Over some period of years now, we have not had a well-structured market in the country. Almost all the markets we have are made by the indigenes. Only very few local markets. This is the time for the government to collaborate with the private sector so that we can build more well-structured markets for Ghanaians to trade.”

This appeal came after the Ghana Union of Traders Association donated GH?40,000 to support the reconstruction of the market.