Stories and facts
Built in 1928 to serve the Takoradi Harbour, the Market Circle was strategically designed with four major and two minor roads symmetrically surrounding its perimeter for easy access. As the city flourished due to its thriving export activities, the need for a central trading nucleus became apparent, leading to the development of the market.
Market Circle's Role in Takoradi
The Takoradi Market Circle plays a vital role in the city's economic activities. Its location at the heart of the metropolis makes it the most accessible point, drawing people from all around. The market is home to various economic activities, including banking, trading of goods, and the sale of food produce. Many major banks have branches around the market area, adding to its significance.
Challenges and Expansion
Over the years, the market faced challenges such as congestion and sanitation issues. Hawkers without stalls cluttered pedestrian walkways and parking spaces, making it difficult to regulate market activities and causing traffic jams. To address these concerns, a new market was planned and built in Apremodo, a suburb of Takoradi, to alleviate congestion.
Sanitation and Fire Incidents
The market's size and daily usage demand consistent efforts to keep it clean. In response, the Sekondi-Takoradi Metropolitan Assembly engaged the waste management company Zoomlion to maintain market sanitation. Like many large markets in Ghana, the Takoradi Market Circle has faced fire outbreaks, leading to substantial property losses. Fire personnel stationed close to the market play a crucial role in containing such incidents.
Redevelopment Project
In 2020, the Ghanaian president, Nana Addo Dankwa Akufo-Addo, initiated a €48 million redevelopment project for the Takoradi Market Circle. Financed by Deutsche Bank S.p.A Italy, the project is 59% complete and expected to be handed over to the government of Ghana by 2024. The redevelopment includes the construction of 2,408 stores, 33 restaurants, bulk breaking areas, visitors' parking, union offices, police and fire stations, a post office, a clinic, administrative offices, a waste separation dock, and changing rooms for staff.
Benefits of Redevelopment
Upon completion, the redevelopment project aims to address the cause of fire outbreaks with improved fire detection and combatting systems, upgrade drainage systems to alleviate flooding, enhance social infrastructural facilities, and improve waste collection and disposal. The project is expected to reduce traffic congestion, increase trading activity, provide additional rentable shops, and decrease points of conflict and congestion around the central business district.
The Takoradi Market Circle stands as a testament to Ghana's economic growth and prosperity. Its significance as a commercial and trading hub in the Western Region has made it a popular destination for locals and tourists alike. With ongoing redevelopment efforts, the market is poised to continue its vital role in contributing to the city's economic progress and development.
