The Kumasi Metropolitan Assembly (KMA) has issued a stern ultimatum to traders at the Kejetia Market, mandating the settlement of all outstanding premium payments for their stalls by December 31, 2026. Richard Ofori-Agyeman Boadi, the KMA Chief Executive, emphasized that traders who fail to meet this deadline risk losing their allocations entirely. This move is part of an effort to streamline the market's financial operations and ensure the sustainability of one of West Africa's largest commercial hubs. The urgency behind this directive stems from the financial pressure on the market's redevelopment project. According to Mr. Boadi, the delay in premium payments has significantly impacted the funding required for subsequent phases of the market's reconstruction. The redevelopment of the Kejetia Market and the Central Market is a multi-phase project essential for Kumasi's economic infrastructure. Specifically, a 248 million Euro loan was secured to support Phase Two of the project, which was expected to resume work in October 2023. Ensuring that current traders fulfill their financial obligations is crucial to maintaining the confidence of creditors and project contractors. In addition to the payment deadline, the KMA Chief Executive issued a cautionary note regarding the acquisition of future stalls. Traders have been warned against making pre-payments for stalls in phases that are not yet complete or officially open for allocation. This warning is intended to protect traders from potential fraud and to maintain an organized allocation process once Phase Two is concluded. Addressing these operational concerns is seen as vital for the overall success and transparency of the market's management. The resolution of these payment issues is expected to pave the way for a smoother execution of the remaining redevelopment work. By enforcing the 2026 deadline, the KMA aims to stabilize the project's revenue stream and ensure that the market continues to serve as a cornerstone of trade in the Ashanti Region. For the traders, the period leading up to the deadline represents a critical window to secure their long-term business interests within the modernized facility.
Live rates
Euro to cedi rate →