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Business News of 2014-10-21
There have been several demolitions in Ghana over the years. The most recent was the one at the Kwame Nkrumah Circle where hundreds of shops were razed to the ground. This follows similar crackdowns at Sodom and Gomorrah, Adenta Aviation and Sraha.
But with no compensation for affected shop owners, it appears demolitions in the capital are badly affecting small businesses, many of which eventually fold up.
Following the recent demolition at the Kwame Nkrumah Circle, a few traders have erected temporary displays for their wares ranging from phones and games to many other accessories. Their businesses have been hard hit. Commercial activity has virtually come to a standstill.
One of the affected traders said: “We have sent all our goods to our homes because there is nowhere to keep them here. If a customer calls you for something, you can’t even get what they need.”
Another laments, “it’s not easy to stay without income. For about 2 weeks now, we are stranded, not working, not doing anything.”
Compensation is another issue that comes up in the event of demolition. Many complain that the compensation they receive is nothing to write home about. The monies they receive do not even cover the cost of their shops, not to consider that of the goods they have in their shops.
But Dr Alfred Oko Vanderpuije, the mayor of Accra says the monies given are mostly tokens as these people do not have the titles to the lands. The metropolitan assembly therefore owes them neither compensation nor relocation, he added. Demolitions are indeed preventable in many cases. The Assembly has a big task of ensuring that people comply with the law. But traders also have a responsibility to ensure they locate their businesses at approved places.
Business News of 2014-10-21
There have been several demolitions in Ghana over the years. The most recent was the one at the Kwame Nkrumah Circle where hundreds of shops were razed to the ground. This follows similar crackdowns at Sodom and Gomorrah, Adenta Aviation and Sraha.
But with no compensation for affected shop owners, it appears demolitions in the capital are badly affecting small businesses, many of which eventually fold up.
Following the recent demolition at the Kwame Nkrumah Circle, a few traders have erected temporary displays for their wares ranging from phones and games to many other accessories. Their businesses have been hard hit. Commercial activity has virtually come to a standstill.
One of the affected traders said: “We have sent all our goods to our homes because there is nowhere to keep them here. If a customer calls you for something, you can’t even get what they need.”
Another laments, “it’s not easy to stay without income. For about 2 weeks now, we are stranded, not working, not doing anything.”
Compensation is another issue that comes up in the event of demolition. Many complain that the compensation they receive is nothing to write home about. The monies they receive do not even cover the cost of their shops, not to consider that of the goods they have in their shops.
But Dr Alfred Oko Vanderpuije, the mayor of Accra says the monies given are mostly tokens as these people do not have the titles to the lands. The metropolitan assembly therefore owes them neither compensation nor relocation, he added. Demolitions are indeed preventable in many cases. The Assembly has a big task of ensuring that people comply with the law. But traders also have a responsibility to ensure they locate their businesses at approved places.