Makola No. 2 traders protest rent hikes and new 20% VAT burden

Hundreds of traders at Makola No. 2 Market in Accra took to the streets on Thursday, February 26, to protest what they describe as excessive rent increments and the introduction of a 20% VAT, saying the rising costs are becoming unbearable.

Speaking to JoyNews, market leader Anthony Kyei Baafi said traders are under intense financial strain and are demanding urgent government intervention.

He explained that the traders engage with MMC Management Company, which operates under Social Security and National Insurance Trust (SSNIT), and that several meetings have already been held this year to discuss rent adjustments, taxes and Common Area Maintenance (CAM) charges.

According to him, rent has now been separated from CAM fees which cover electricity, water, security and waste collection  and both components are subject to annual increases. He expressed concern that management frequently cites inflation and exchange rate pressures to justify upward adjustments but fails to reduce charges when economic conditions stabilise.

The traders also claim that management attributed the latest increment to a 20% tax imposed by government. Baafi questioned whether it was fair for the full tax burden to be transferred directly to tenants within such a short timeframe.

Beyond the financial concerns, the traders allege strict enforcement measures, including locking up shops when payments are delayed. They say this has forced some to borrow money simply to regain access to their merchandise.

Sanitation challenges were also raised during the protest, with traders describing certain parts of the market as posing health risks.

Makola No. 2 Market, one of Accra’s busiest commercial centres, plays a significant role in the capital’s trading activities. While parts of the facility were redeveloped during the tenure of Rebecca Akufo-Addo, traders argue that their current grievances relate more to policy and cost pressures than infrastructure.

The demonstrators are now appealing directly to President John Dramani Mahama and other state authorities to intervene. They maintain that they are not against paying legitimate fees but are calling for fairness, transparency and relief in what they describe as an already difficult economic environment.