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08.08.2018 Business & Finance

Trade Fair Company To Begin Reconstruction; Issues Eviction Notice To Clients

By Odelia Ntiamoah
Trade Fair Company To Begin Reconstruction; Issues Eviction Notice To Clients
LISTEN AUG 8, 2018

The Ghana Trade Fair Company has served eviction notices to tenants on its premises to leave in six months. This is to make way for the reconstruction of the trade fair site.

The reconstruction will commence in the first quarter of 2019 with the first phase which includes amusement parks, convention centres among others.

So far 30 companies have expressed interest in the construction but CEO of Trade Fair, Dr Agnes Adu says only four look promising.

“The procurement process has begun for these companies before then we investigated the companies to ascertain they can start and complete the projects for which they have expressed interest. Out of the 30 companies, four look promising.”

Based on the GIPC regulation, all foreign companies hoping to establish in the country must have a local partner. In relation to this, Dr Adu said all the companies who have expressed interest either have Ghanaian partners or are fully Ghanaian owned.

The first phase of the project will be concentrated on the 100-acre land where the current dilapidated structure sits. A master plan has been drawn and will be unveiled in August.

The trade fair company owed the electricity company of Ghana close to two million cedis in bills.

Dr Agnes Adu indicated the ECG has now connected direct meters to every client on their premises.

She said, “As at now the ECG is dealing with the individual clients but we have our personal bills to pay it will take us about 2 years to clear the bill”

Former CEO before EOCO
The former CEO of the Trade Fair Company and some members of the past administration are currently under investigation and before the close of the year, the outcome of the investigations will be made public.

“They did such a horrible job, for example, the former CEO was at the time his own accountant. Proceeds from international fairs were all kept in his office and no one held him to account. How do you manage a company like that?” She added.

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