KMA seeks funding to restart stalled Kumasi Central Market Phase II project

The Kumasi Metropolitan Assembly (KMA) is moving to mobilise funding to revive the stalled Phase II redevelopment of the Kumasi Central Market, following years of delays that have kept traders waiting for the project to be completed.

Kumasi Mayor Richard Ofori Agyemang Boadi said government had taken steps to secure the financial resources needed to restart the project, with additional funding to be made available where necessary. He said the scale of the redevelopment meant significant resources were required to bring it to completion.

Mr Agyemang Boadi made the disclosure during a stakeholder engagement between traders and the Minister for Local Government, Chieftaincy and Religious Affairs in Kumasi.

He said the financing arrangements being pursued would provide the resources required to move the project forward.

The Phase II development is expected to add thousands of trading spaces and other facilities to the existing Kejetia complex, including more than 3,760 counter shops, over 6,000 lockable shops and a transport terminal capable of accommodating 600 vehicles.

The €248 million contract for the project was signed in December 2018 with an initial completion period of 48 months. However, the project has remained stalled, leaving several traders operating from temporary and satellite locations and raising concerns about the impact of the delays on their businesses.

The Mayor also disclosed that the KMA had generated GH¢89 million from the first phase of the market redevelopment since its commissioning in 2018. He said the amount represented revenue generated from operations at the Phase One facility.

The renewed funding effort is expected to pave the way for work to resume on Phase II and, ultimately, provide traders with access to the expanded market facilities once the redevelopment is completed.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.