The Secretary of the Combined Traders Association, Reuben Amey, has expressed concern over the stalled Kejetia Phase Two project.
He said the revised project cost had risen to 305 million Euros while traders continued to suffer without proper working spaces.
Amey described the situation as a painful moment for traders and market women. He also recalled encouraging relatives and colleagues to leave the old market to allow construction work to begin.
According to him, traders relocated from the central market in 2019 with hopes of returning within four years.
He noted that repeated delays had disrupted businesses and worsened living conditions for many traders.
Amey stated that the government was now seeking additional funding to continue the project. He warned that every day the contractor remained absent from the site increased the total cost of the project.
“I heard the minister say that the project now costs about 305 million euros. The fact of the matter is that the government will now have to source additional funds, and every single day the government fails to allow the contractor to return to site, the cost continues to increase.”
Reuben Amey, Secretary of the Combined Traders Association
He further explained that high interest rates and unstable exchange rates had worsened the financial burden. Hee added that the project cost continued to rise every week and month.
The association leader said congestion at the Racecourse area remained a major challenge for traders and commuters.
Amey questioned when authorities would finally take decisive action on the delayed project.
According to the Secretary, the traders expected the government to announce immediate funding for the contractor to resume work during the press conference.
He further noted that the contractor would likely demand additional payments upon returning to the site.
He also argued that the continuous delays had placed a heavy financial burden on traders who depended on the market for survival.
Amey stated that the project originally cost about 250 million Euros before the recent increase..
He criticised authorities for appearing unconcerned about how traders would repay the loans tied to the project.
He added that many politicians had taken the trading community for granted for too long.
According to him, traders would eventually bear the responsibility of repaying the loans used for the redevelopment.
He argued that decisions were being made without considering the long term effects on businesses.
Amey said officials appeared more interested in collecting payments than protecting traders from financial hardship.
“You sit in your office as the authority, yet you do not care how we raise the money to pay for it. As I speak to you, we at Kejetia have already paid the premium, and we will continue to bear the additional costs until the loan is fully settled.”
Reuben Amey, Secretary of the Combined Traders Association
He reminded authorities that traders had already paid significant premiums toward the redevelopment project.
He stressed that those payments would not be enough to cover the additional costs caused by the delays.
Kejetia Project Debt Fears Deepen As Costs Approach 600 Million Euros
Amey also predicted that the Kejetia Phase Two project could cost nearly 400 million Euros if funding delays persisted.
He said the total investment could eventually approach 600 million Euros for the entire redevelopment.
Amey criticised authorities for showing little empathy toward struggling traders.
“You sit in your office, and it does not cost you anything from your own salary. In the end, you will turn around and place the burden on us traders to pay that amount. Authorities and politicians across the board and I am not speaking about only one political party, you have taken traders for granted for far too long.”
Reuben Amey, Secretary of the Combined Traders Association
He accused leaders across all political parties of making decisions without considering the impact on their businesses.
He argued that officials do not personally bear the financial burden of such decisions, yet continue to shift the cost onto market traders through increased payments and levies.
The Secretary of the Combined Traders Association accused authorities of neglecting measures needed to help traders reduce their losses while continuously shifting financial burdens onto them.
He stressed that traders, not the government, would ultimately bear the repayment burden of any additional loans secured for the project.
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