Contractors working on the stalled Kejetia Market redevelopment project Phase II in Kumasi are expected to return to site in October 2026.
The planned resumption follows consultations among key stakeholders and the Ministry of Finance to address funding challenges and pave the way for work to recommence.
The consultations, held at the Phase II project site, brought together major stakeholders to assess the project’s status, discuss funding arrangements, address outstanding concerns, and chart a course toward completion.
Mr Richard Ofori-Agyemang Boadi, the Kumasi Metropolitan Assembly (KMA) Mayor, who disclosed this during meetings with stakeholders at the site over the weekend, said GH¢89 million generated from Phase I had been identified to support the recommencement of the project.
He, however, said the amount was insufficient to complete the development in its original form, adding that the true value of the shops and other facilities would have to be reflected in the charges going forward.
Mr Boadi said the completion of Phase II remained a priority on the agenda of President John Dramani Mahama under the Government’s “Resetting Agenda”.
He said completing the project would help ease pressure and congestion in Kumasi’s Central Business District (CBD), while providing traders and other users with improved facilities.
The Mayor expressed concern over the payment of rents and premiums, explaining that the original financing arrangement was for proceeds from Phase I to be used to support the development of subsequent phases.
He said inadequate revenue generated from Phase I had necessitated additional government support, contributing to delays in completing the project.
Mr Boadi noted that the initial five-year premium period had elapsed and urged traders with outstanding payments to settle their obligations by December 31, 2026.
He warned that failure to settle outstanding obligations could result in the loss of the shops.
Speaking on behalf of the Otumfuo Apagyahene, Oheneba Owusu Afriyie IV said that at the commencement of Phase I, the Asantehene, Otumfuo Osei Tutu II, was assured that proceeds from the project would be used to finance subsequent phases.
He therefore urged traders indebted under the premium scheme to honour their financial obligations.
Oheneba Owusu Afriyie IV also called on the government to adhere to the agreed rules in the allocation of shops and other facilities to ensure fairness and transparency and avoid partisanship in the process.
He said Kumasi remained a major commercial hub and that the completion of Kejetia Phase II would further strengthen the city’s position as a key destination for trade and commerce.
