The Kumasi Metropolitan Assembly (KMA) is seeking funding to revive the stalled Phase II redevelopment of the Kumasi Central Market. The project, which was signed in December 2018 with a contract value of €248 million, aims to add thousands of trading spaces and facilities to the existing Kejetia complex. Kumasi Mayor Richard Ofori Agyemang Boadi stated that the government is taking steps to secure the necessary financial resources to restart the project.
The Phase II development is expected to include 3,760 counter shops, over 6,000 lockable shops, and a transport terminal capable of accommodating 600 vehicles. The project was initially set to be completed within 48 months, but it has remained stalled, leaving traders operating from temporary and satellite locations. The delays have raised concerns about the impact on their businesses.
According to Mayor Agyemang Boadi, the KMA has generated GH¢89 million from the first phase of the market redevelopment since its commissioning in 2018. The amount represents revenue generated from operations at the Phase One facility. The Mayor made the disclosure during a stakeholder engagement between traders and the Minister for Local Government, Chieftaincy and Religious Affairs in Kumasi.
The renewed funding effort is expected to pave the way for work to resume on Phase II and provide traders with access to the expanded market facilities once the redevelopment is completed. Mayor Agyemang Boadi assured that the financing arrangements being pursued would provide the necessary resources to move the project forward.
The Kumasi Central Market redevelopment project is a significant initiative aimed at modernizing the market and improving trading conditions for vendors. The project has been stalled for several years, and the KMA's efforts to secure funding are crucial to its completion.
The Minister for Local Government, Chieftaincy and Religious Affairs, who attended the stakeholder engagement, is expected to play a key role in facilitating the project's revival. The government's commitment to securing funding for the project is seen as a positive step towards its completion.
Once completed, the Phase II redevelopment of the Kumasi Central Market is expected to have a significant impact on the local economy and provide relief to traders who have been operating from temporary locations. The project's revival is also expected to enhance the overall trading experience for vendors and customers alike.
Key points
- The KMA is seeking funding to revive the stalled Phase II redevelopment of the Kumasi Central Market.
- The project aims to add thousands of trading spaces and facilities to the existing Kejetia complex.
- The KMA has generated GH¢89 million from the first phase of the market redevelopment since its commissioning in 2018.
