By Muyid Deen Suleman
Kumasi, Sept. 22, GNA – The government is committed to completing the second phase of the Kumasi market redevelopment project.
Mr Ofori-Agyemang Boadi, the Mayor of Kumasi, who stated this, said the completion of the project remained one of the top priorities on the agenda of President John Dramani Mahama, under his Resetting Ghana agenda.
Speaking at a stakeholders’ engagement at the project site in Kumasi, Mr Boadi said completing the project would not only alleviate pressure and congestion within Kumasi’s Central Business District (CBD), but would substantially, offer traders and other users enhanced facilities, while improving business and economic activities in the city.
Contractors engaged in the stalled Kumasi Market Redevelopment Project Phase II, are expected to resume work in October 2026.
Their return follows consultations with key stakeholders and the Ministry of Finance, aimed at unlocking progress of the project, beginning with GHS 89 million, which had been generated from the Phase I of the project.
The stakeholder engagement brought together major stakeholders to review the state of work, discuss funding arrangements, address outstanding concerns, and chart a clear course towards the project’s eventual completion.
Mr Boadi, pointed out that while the GHC 89 million revenue currently recorded from Phase I was not sufficient to deliver the second phase in the original form, the assembly expected that the true value of the shops and facilities would be reflected in the associated charges going forward.
He further underscored concerns regarding the payment of rents and premiums, noting that the initial arrangement was for proceeds from Phase I to support the subsequent phases.
However, he said insufficient revenue from Phase I had necessitated additional government support, thereby contributing to delays in bringing the project to completion.
The Mayor reminded stakeholders that the initial five-year premium period had elapsed and urged traders with arrears to settle their obligations by December 31, 2026, warning that failure to pay could result in the loss of their shops.
Oheneba Owusu Afriyie IV, the Apagyahene, who represented the Asantehene, noted that, at the start of Phase I, Otumfuo Osei Tutu II was assured that proceeds from Phase I would be applied to finance the subsequent phases.
He urged traders indebted to the premium scheme to honour their commitments, while calling on the government to remain consistent with the agreed rules, ensuring fairness and transparency in the allocation of shops and facilities, and avoiding any inclination of partisanship in the process.
He said Kumasi continued to serve as a major commercial hub, and that the completion of the Phase II would further consolidate the city’s standing as a key destination for trade and commerce.
GNA
Edited by Kwabia Owusu-Mensah/Benjamin Mensah