The development of the Accra Mall and its current location was the product of some speculative
conjecturing and educated guessing on the part of the initiating partner of the mall, Mr. Owusu-
Akyaw.By nature very speculative on his daily commutes fromTema to the SSNIT headquarters in
Adabraka, Accra, where he worked in the early 1970s, wondered about the nature and direction
of the development of Accra. He made an educated observation, based on the pattern of
development at the Airport residential area and its surroundings, that the Tetteh Quarshie Circle
(as it was then known) was destined to be the center of Accra.
With this as the basis Mr. Owusu-Akyaw set off to secure land near the Tetteh Quarshie circle
that could support some kind of commercial development. He acquired a 10-acre parcel for the
development of a hotel complex. The land had been badly disturbed by winners of sand and
gravels for development in theAirport residential area. The land was filled with several craters,
which did not make it attractive to most people for any purpose.
At the time of purchase in 1972, there was very little development around the area. However,
over time, developments at East Legon and Dzorwulu increased greatly, causing phenomenal
growth in human and vehicular traffic around the Tetteh Quarshie Circle. Also several decent
hotels mushroomed around the airport and its immediate environs. Looking at the demography of
the settlements around the area, it was clear that that there was a need for a shopping center to
serve the needs of the middle and upper income groups who lived in these residential areas, but
who had to go all the way to downtown Accra, around Makola, the Central Post Office and also
Osu, to do their shopping and leisure.
These observations crystallized the idea of a shopping mall and led to the vision of creating a
community mall at the crossroads of the Spintex Road and the Accra-Tema Motorway.
Mr. Owusu-Akyaw commissioned a number of consultants to undertake the statutory studies for
environmental and traffic impact assessment, demographic studies, geodetic surveys, etc. The
first problem to be tackled was to do with an architectural design that would meet the
requirements of international retailers and attract anchor tenants, to facilitate the securing of
financing for a shopping mall of the size envisaged.
The news of Shoprite’s presence in no time led Game stores of South Africa to also agree to
participate in the venture. With these two anchor tenants, the project became more viable and
more attractive for funding.
While Ghana has some of the best investment promotion laws and incentives to attract investors,
the country still had challenges attracting enough direct foreign investments.
To make the project attractive to foreign investors, the initiating developer, Mr Owusu-Akyaw
contracted international consultants and experts in planning and Development, CPD, experts in
the field of retail development, to assist him prepare a project document that provided all the vital
information required by both investors and retailers.
The aim was to secure all the reports, licensing and permits to eliminate all the bottlenecks and
difficulties investors face when they come into the country. Local consultants were engaged to
work with the foreign consultant to produce all the required reports, which were then put together
into a comprehensive project document that was presented to identifiable and potential investors
in Ghana and South Africa in particular.
Funding for the project remained a major challenge. The novelty of the concept, and coming from
a country with no track record of a shopping center of the size envisaged, made selling the
project difficult. Mr. Owusu-Akyaw had the arduous task of seeking a hefty 30 million dollar loan,
then the estimated cost of the project. After several years of hard work to and froSouth Africa and
in Ghana, meeting with almost every major bank, the developers drew a blank. Just when things
seemed gloomy, Mr. Owusu-Akyaw had the fortune of meeting a Ghanaian, Dominic Adu, an
officer of ACTIS based in Lagos, who, incidentally, had heard of the project in Ghana. He
introduced the project to his colleagues and engaged Mr. Owusu-Akyaw in discussions. The
group saw the project as viable on a trimmed down scale and proceeded to provide financing for
it.Detailed design of the mall was awarded to the Johannesburg based Bentel Associates
International (BAI), an internationally recognised and award-winning retail design group. Local
Architects and tradesmen were also contracted in the development of the mall. In May 2012,
Atterbury and Samlan of South Africa acquired majority shares in Accra Mall to become the new
owners of Accra Mall.
Postal Address: PMB 111 Airport Accra-Ghana
Physical Address: Plot C11, Spintex Rd.
Tetteh Quarshie Interchange, Accra.Ghana
1. Centre Manager
Olympio Kudjo Agbodza
2. Finance Manager
3. Operations Manager
4. Marketing Manager