chambernews

SECOND INVESTOR CONFERENCE OF THE GTFCL

The Canada Ghana Chamber of Commerce (CANCHAM) Secretariat was invited to the Second Investor Conference of the Ghana International Trade Fair Company Limited (GTFCL) Redevelopment Project on Tuesday 11th July, 2023. The conference was aimed at attracting private sector investors to partner with GTFCL to redevelop the site into a new modern, mixed-use, and sustainable commercial estate. Dr Agnes Adu, the CEO, in her opening remarks said, the GTFCL was established by an Executive Instrument (EI10) in 1960 as a project to facilitate Ghana’s post-independence trade and industrialization drive. She said, over the years, the GTFCL has changed into a Limited Liability Company strategically positioned to promote and facilitate trade in Ghana. The redevelopment is budgeted at US $2billion and will be done in two phases. Though the total site is 239.92 acres the company has lost part of the land due to encroachments. The redevelopment will be on only 156 acres. The first phase, which is already under construction will focus on the development of a modern Convention Center, Exhibition Halls, Technology Hub, Business Park amongst others. Facilities such as luxury hotels, malls, residential and commercial development will be included in the second Phase of the project. She finally urged investors to partner with them for an all-inclusive development.
The special guest for the event, Ken Ofori-Atta, Minister of Finance, was excited about the relocation of the African Continental Free Trade Area (AfCFTA) Secretariat to the Ghana Trade Fair site. He said the relocation is in line with government’s vision of making the Ghana International Trade Fair site a regional and continental hub for investment and trade. Engineers from Buena Vista Homes, which is undertaking the master plan of the infrastructure at the site, did a power point presentation on the drainage, roads and other utilities that are already under construction. Some investors asked questions about security measures that have been put in place for the facility. Dr. Adu answering them, said the site have CCTV cameras and will be fully gated with advance security checks such as mirrors and complete vehicle x-ray in place. The project is estimated to be completed within 3 to 5 years.