The government of Ghana has budgeted US $2bn for the redevelopment of the Ghana International Trade Fair Centre.
According to Minister for Planning, Professor George Gyan- Baffour, the investment for the redevelopment of the Centre into a modern trade exhibition site will generate additional tax revenue from new businesses and investors, locally and on the international sphere.
The project is anticipated to take about three to five years and expected to be carried out in three phases with phase one expected to include the development of a 12,000-seater trade convention centre. Modern hotels, retail shops, among others are expected to be built on the site.
Addressing investors, the minister also stated that the Centre will provide an estimated 10,000 jobs including 3,000 direct jobs and 7,000 indirect ones throughout the value chain. “That is from project planning to construction and post construction management,” he explained.
Prof. Gyan-Baffour further added that once completed, the Trade Fair Centre will generate permanent employment opportunities for more than 10,000 people, as well as an estimated US $150m worth of business annually.
On tourism, he affirmed that the development also has huge potential to boost the sector in the country. “The Ghana Trade Company has made sure that the design, concepts would drive tourism through the various theme parks and hotels as well as the retail outlets that will serve the entire sub-region,” he said.