Management of Makola No. 2 Market in the Greater Accra Region has defended its recent decision to adjust rent charges, following protests by some traders demanding government intervention and a takeover of the facility’s administration.

The traders earlier demonstrated against what they described as excessive rent conditions and additional levies, urging state authorities to step in and assume control of the market.

Responding to the concerns, the Managing Director of MMC Property Management Limited, John Appea, said the rent review was carried out with the board's knowledge, which includes representatives from SSNIT and the Accra Metropolitan Assembly (AMA).

He explained that the company depends entirely on its own internally generated funds to run the facility.

“Given the numerous challenges management has had over the years in charging the appropriate rates and given that all the funding arrangements have to be done from its own resources, if the company cannot charge realistic rates, it will become difficult to keep up with maintenance to the level that is expected because the company does not earn revenue from any other sources,” he stated.

He further noted that, unlike other markets funded through state resources and taxes, Makola No. 2 does not enjoy such support.

“The markets around are being funded from state resources and taxes, but we do not have that advantage. Refuse, for instance, is a major headache for the organisation.

"The organisation pays so much. So much refuse is generated in the area, and we spend so much, and it is all coming from the revenue that we mobilise from the centre to be able to do that,” he added.

Management maintains that the rent adjustment is necessary to ensure proper maintenance and sustained operations at the market.