President John Dramani Mahama has announced that construction of an ultra modern Kumasi Central Market in the Ashanti region will begin in March.

The market was ravaged by fire last May.

Speaking to Kumasi-based radio station, Angel FM Wednesday morning, President Mahama said funding has been secured and plans are underway for a sod cutting ceremony latest by March.

The Kumasi Central Market has suffered three fire outbreaks in 11 months. In June and in July 2013 with the latest in May 2014, about thirty shops were razed down in a Sunday dawn fire outbreak. The losses have been severe and livelihoods destroyed according to victims of the outbreak.

The Ghana Fire Service has recommended a re-wiring of the entire market described as one of the busiest in West Africa.

Victims of the fire who owned stalls in the market initially resisted government plans to build a new market preferring to build it themselves.

They feared government would rent out the market stalls to politically connected or new tenants who could afford higher rent charges.

But with such fears apparently addressed, construction work is set to go ahead this year.

“I will be in Kumasi to cut the sod in February or March”, he said on the day to mark his second year in office after he was sworn in on January 7, 2013.