Management of Makola No. 2 Market has defended its recent rent increment, arguing that the adjustment is necessary to sustain operations and maintain the facility without government subvention.
The response follows protests by traders who described the new charges as exploitative and called on the state to assume control of the market’s management.
Speaking on the matter, John Appea, Managing Director of MMC Property Management Limited, said the decision was taken with the knowledge of the board, which includes representatives from the Social Security and National Insurance Trust (SSNIT) and the Accra Metropolitan Assembly (AMA).
According to him, the market does not benefit from state funding unlike other public markets, making internally generated revenue the sole source of financing for maintenance and operational expenses.
“Given the numerous challenges management has had over the years in charging appropriate rates… if the company cannot charge realistic rates, it will become difficult to keep up with maintenance,” he explained.
He highlighted waste management as one of the biggest cost burdens, noting that large volumes of refuse generated daily require significant financial resources to manage.
Management insists that without realistic rent adjustments, it would struggle to maintain sanitation standards and facility upkeep, stressing that the increment is aimed at ensuring the long-term sustainability of the market.
