The Chief Executive of the Kumasi Metropolitan Assembly (KMA), Richard Ofori-Agyeman Boadi, has issued a firm ultimatum to traders at the Kejetia Market, demanding the settlement of all outstanding premium payments for their stalls. Traders who fail to honor their financial obligations by the December 31, 2026, deadline face the immediate risk of losing their allocated spaces. This directive serves as a critical measure to streamline the management of the market and ensure that all beneficiaries contribute their fair share toward the sustainability of the facility.
The urgency behind this demand is rooted in the financial health of the broader market redevelopment project. According to assembly officials, the accumulation of unpaid premiums has directly hindered the funding and progression of subsequent redevelopment phases. A significant €248 million loan was secured to finance Phase Two of the project, with construction activities expected to resume in October 2023. The KMA emphasizes that the timely collection of these funds is essential to service existing obligations and maintain the momentum of Kumasi’s infrastructure modernization.
In addition to the payment deadline, the KMA Chief Executive warned traders against making unauthorized pre-payments for stalls in future phases of the market. Officials have urged the trading community to focus on resolving current arrears rather than speculating on future allocations. By addressing these key operational concerns, the assembly aims to create a more transparent and efficient system for all stakeholders involved in the Kejetia project, ensuring that the market remains a viable hub for commerce.
As the redevelopment continues, the cooperation of the traders is seen as vital for the long-term economic stability of the Kumasi metropolis. The Kejetia Market is a cornerstone of regional trade, and its successful completion depends on the mutual fulfillment of agreements between the local government and the business community. Failure to meet the 2026 deadline could lead to a significant reallocation of stalls, potentially altering the commercial landscape and the relationship between the city and its vendors.