Investors to Establish Pan African Shopping Mall in Ghana
By Kestér Kenn Klomegâh
The capital city of Accra, Republic of Ghana, hosts the African Continental Free Trade Area (AfCFTA). The AfCFTA spearheads the operations of the continental single market, a mega project of the African Union (AU). In a parallel development, a Pan-African Mall (PAM) is set to become one of sub-Saharan Africa’s historic landmark malls for shopping.
The first of its kind, the Pan African Shopping Mall is aimed at a more inclusive retail concept being introduced in Africa in furtherance of trade and socio-economic development and facilitation in alignment with the AfCFTA, considering it will accommodate businesses from several African countries and economic classes.
For shoppers, the experience will be all-inclusive yet unique. PAM looks at “fostering multilateral socio-economic development and ties between African economies,” Deputy Minister of Trade and Industry of Ghana, Stephen Amoah, during the sod-cutting ceremony marking the start of construction of the Pan-African Mall.
The former Minister of Trade and Industry of Nigeria, Mr Adeniyi Adebayo, praised the investors for their commitment to the project and dedication to Africa’s development.
In her speech, the Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM), Mrs Abike Dabiri-Erewa, said that they would provide mortgage financing for Nigerian business owners in Ghana, which should further be a boost.
The project is being spearheaded by Brains and Hammers Ltd (Ghana) in collaboration with Nigerians in Diaspora Organisation (NIDO), who are committed to the economic growth, job creation and empowerment of Africans. Brains and Hammers Ltd is a real estate and infrastructure construction, development and management company.
According to Mallam Bashir Patty, the Managing Director of Brains and Hammers Limited (Ghana), “The mall will have over 400 shops and over 300 workstations for those who can’t afford shops.”
The mall is functionally designed and will be replete with facilities and amenities, including but not limited to a roof-top garden, 150 ground and basement parking spaces, banking halls, office spaces, restaurants, an adequate supply of potable water, renewable energy supply and other environmentally sustainable features and elevators – a modern state of the art mall with eco-friendly facilities and environment.
As Chief Calistus Elozieuwa, the Chairman of the Board of Trustees for Nigerians in Diaspora Organisation – Ghana Chapter (NIDO), said: “This is a mall to be owned by Africans, not only Nigerians and Ghanaians because of the spirit of integration on the continent in terms of the area of trade.”
Andrew Achampong-Kyei, Managing Director of GLICO General Insurance, also reiterated that they would offer guarantees to the investors and shop owners and had designed a special policy i.e. the rent to own, which enables an investor to make substantial regular rent payments towards owning the shop.
The mall is aimed at contributing to sustainability and youth employment, including women and the disabled. It is, however, expected that the shopping mall becomes accessible to its customers and favourite shopping destination to purchase various goods and services. There are plans to include foreign products from the most desired retailers to meet the needs of customers.
By managing every aspect, the mega mall offers its customers a simple, secure and convenient solution to shopping directly from many of the best brands in the world. The PAM welcomes all African traders to take advantage of the fully secured state-of-the-art shops and the mall. The construction is planned over a period of two years.