Abandoned Takoradi Market Circle project to resume next year – Finance Minister

Finance Minister Dr. Cassiel Ato Forson has announced that work on the long-abandoned Market Circle in Takoradi will resume next year.

The project, which has stalled for years, is set to become a priority for the government, he announced.

During an inspection of the site ahead of the 2026 Budget Statement on Thursday, November 13, Dr. Forson highlighted the Market Circle’s significance to thousands of traders and families, describing it as a symbol of Takoradi’s economic resilience.

“The Market Circle project has been captured as a priority project of the government, and work will resume next year,” he stated, noting that progress depends on the completion of ongoing debt restructuring before the contractor returns to the site.

Accompanying Dr. Forson were Deputy Finance Minister Thomas Nyarko Ampem, Western Regional Minister Joe Nelson, and STMA Metropolitan Chief Executive Fredrick Faustinus Faidoo, who joined discussions on revitalizing the commercial hub.

Once completed, the redevelopment will modernize one of Ghana’s oldest trading centres, easing congestion and stimulating economic activity across the Western Region.

Meanwhile, Ghana’s Ministry of Energy and Green Transition has been confirmed as Patron of the West Africa Energy Cooperation Summit (WAECS), to be held in Accra from 2–3 December 2025. The Summit brings together regional government leaders, investors, and industry partners to showcase investment opportunities and regional energy integration developments set to transform the region by 2030.

This year, the African Trade & Investment Development Insurance (ATIDI) joins as Lead Sponsor, alongside Endeavour Energy and Denham Capital as Sponsors, underscoring their commitment to driving sustainable energy investments and regional cooperation across Africa.

“ATIDI is strengthening its footprint in Africa by supporting investments that not only advance energy access but also drive economic growth. The organization provides credit and political risk insurance across key economic sectors of the continent, with a gross exposure of approximately USD 8.9 billion as of December 2024.

Through its Regional Liquidity Support Facility (RLSF), a blended finance guarantee instrument, ATIDI enables Independent Power Producers to mitigate payment risks. Recent projects supported, such as the 42MW Sokodé solar PV plant in Togo, highlight ATIDI’s role in fostering clean energy and increased investor confidence in the region,” said Aliyu Alhassan Yahaya, RLSF Underwriter.

The Summit will mobilise finance and support deeper collaboration across the ECOWAS regional integration agenda and Ghana’s ambition to be a regional energy distribution hub. It will provide a platform for stakeholders to explore opportunities in renewables, gas-to-power, regional interconnectivity, and digitalisation of energy systems.