About Ghana Trade Fair Company Limited

Our History, Missions, Evolution and Team

Our Mission

To become the preferred International Trade Fair Center in the sub-region and to promote beneficial trade between Ghana and her global trading partners.

Our Vision

  • To organize world class fairs and exhibitions.
  • To be the prime institution for business trade facilitation in Ghana.
  • To promote business exposure by creating match – making opportunities for Ghanaian businesses and their counterparts abroad.

Our History

The Ghana international trade fair project was conceived by the government of Ghana in the 1960s. The objective was to build a first class multi-purpose international trade fair and conference center. This was in direct response to the massive industrialization and infrastructural development projects embarked by the government after the attainment of independence in 1957. The project was therefore to enable Ghana to showcase and promote her exportable products and services with a view of attracting investors.

A total land area measuring approximately 236.92 acres was acquired by the an executive instrument (El.10) of 1967 entitled state lands (accra-labadi, trade fair site) for the project. The acquisition covered two parcels of land

Parcel A measuring approximately 191.61 acres and stretched from the la cemetery to the accra-tema beach road. It include the exhibition area and Africa lake area.
Parcel B measuring approximately 45.31 acres and stretched from the accra-tema beach road to the sea. This portion was later carved off to the Ghana tourist board for the development of hotels, the present location of labadi beach hotel and La Palm Royal Hotel.
In 1975 the Africa lake portion of parcel A measuring approximately 64 acres was also lease out by the lands commission to Africa lake amusement center(a private company) for fifty years for the development of an amusement centre.

The contraction of the project started in 1962 and was partially completed in 196 in readiness for the 1st Ghana International Trade Fair in 1967. Two other International Trade Fairs (2nd and 3rd) were held in 1971 and 1973 respectively. As a result of several factors, the Centre became dormant. No funds were made available for the maintenance and repair of the structures. The pavilions were converted into warehouses and wholesales for consumable items like sugar, rice, cooking oil, maize etc. the results was that the pavilions, grounds and other facilities at the center suffered serious deterioration. This remained the case until 1985 When the first GIFEX was organized. This was followed by the first INDUTECH in 1986.

Evolution

Ghana Trade Fair Company Limited has evolved through various stages from a department under the ministry of Trade during its inception through an authority in 1989 when by PNDCL215 it was established as a state owned enterprise (the Ghana Trade Authority) to operate as a commercial concern. In 1997 and accordance with the statutory corporations (Conversion to Companies Act) 1993 Act 461, the authority was converted into a Limited Liability Company renamed the Ghana Trade Fair Company Limited with the government of Ghana as the sole shareholder.

The viability of the Company was based on the Task Force Report which recommended a capitalization of the then 919.5 million cedis and a dollar component of 86.3 million in 1989. In addition, revenue inflows from the African Lake Area as an amusement and entertainment center was to play a critical role in determining the commercial validity of the Company. The lease to the Africa Lake was not abrogated and the African Lake Amusement Complex did not take off as envisaged.

The required capitalization to renovate and refurbish the pavilions, the electrical and plumbing infrastructure however was not provided. Only 280million old cedis was provided. Part of which was used for contraction of the pavilions. The Company was therefore incorporated without the necessary capital injection. It inherited old and dilapidated structure, facilities, infrastructure and financial liabilities. The Company had to operate with its internally generated funds not only for rehabilitation but to meet its recurrent administrative and statutory obligations.