In the early hours of today, January 2nd, 2025, a devastating fire engulfed sections of Ghana’s largest trading hub, Kantamanto Market, leaving traders grappling with significant losses.
The fire, which started around midnight, destroyed several stores and caused substantial financial and emotional distress for traders.
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng spoke on the incident shedding light on the challenges faced by the affected traders and the systemic issues contributing to such recurring tragedies. Dr. Obeng stated;
“My team is on the ground compiling all the necessary information. Definitely, most of our members have been affected, so far as they are traders especially coming in the wake of a new year.’’
Dr. Joseph Obeng President of the Ghana Union of Traders Association (GUTA)
The extent of the damages is still being assessed, but the destruction has once again highlighted the vulnerability of the market’s infrastructure and safety measures.
Meanwhile, the incident at Kantamanto is not an isolated case. Fires have become an almost annual occurrence in major markets across Ghana, raising questions about their root causes and possible solutions.
Addressing these concerns, Dr. Obeng called for better market management and accountability. He emphasized;
“We have market administrators and city authorities who collect tolls, levies, and taxes. What is left is how to monitor and manage these markets. There should be someone whose mandate is to monitor these markets to see how things are manage in these markets.”
Dr. Joseph Obeng President of the Ghana Union of Traders Association (GUTA)
He emphasized the need for stricter implementation of rules governing market activities and facilities. He emphasized;
“The recurrence of these problems have to be investigated. We have to do forensic audit into the market structures; it is very important. Then also, we have to provide proper modern facilities for these areas. Otherwise, we would keep on witnessing some of these things which is not auguring well for the nation.”
Dr. Joseph Obeng President of the Ghana Union of Traders Association (GUTA)
He also stressed the importance of structural audits to ensure that markets are designed to facilitate safety and ease of access in case of emergencies.
Moreover, one trader reportedly lost goods worth GHS 67,000 in the fire. Such losses highlight the precarious position of many traders, most of whom lack insurance coverage. Dr. Obeng revealed;
“We’ve been talking to the city authorities; We wanted to factor insurance into the premises fees that we pay. It has been on the drawing board but we’ve not gotten a way forward. If we are able to do that, it means that every shop would be insured. If you leave it to the individuals normally the wait-and-see attitude of the Ghanaian, they’ll never get insured.”
Dr. Joseph Obeng President of the Ghana Union of Traders Association (GUTA)
He acknowledged, however, that the implementation of such measures requires collaboration between traders, insurance companies, and city authorities.
Cash Handling Practices Under Scrutiny
Another pressing issue is the cash-heavy nature of trade at Kantamanto. Many traders keep significant amounts of money in their shops, increasing their financial vulnerability during disasters. Addressing this concern, he emphasized;
“They keep stocks, normally if you do trading in the new year Eve where banks may close early and all that, definitely taking money home is also at risk. Sometimes some kind of money would be kept at the bank depending on the situation and the time goods were taken.’’
Dr. Joseph Obeng President of the Ghana Union of Traders Association (GUTA)
The incident serves as a stark reminder of the need for financial literacy and support systems to protect traders’ livelihoods.
Dr. Obeng concluded with a strong call for accountability from market managers and city authorities. He argued that proper oversight, coupled with modern infrastructure, could prevent such disasters.
According to him, there is a need for market managers to be up and doing in monitoring these activities.
Additionally, there must be strict rules on how things are done, including the installation of electrical gadgets. Without these measures, he stated that such tragedies are likely to recur.
The fire at Kantamanto Market is a tragic reminder of the systemic issues plaguing Ghana’s major markets.
While the immediate focus remains on supporting affected traders, long-term solutions are essential to prevent such incidents in the future.
READ ALSO; Shatta Wale Makes Debut Performance at Vybz Kartel’s Concert
