City authorities in Kumasi are exploring alternative sources of funding to complete the building of the Krofrom Market which has been abandoned for years.
The project, which started under the John Agyekum Kufuor administration, was left uncompleted due to funding challenges, leaving the market in a state of disrepair.
Three years ago, the government, together with the office of the Asantehene, facilitated a loan agreement worth GHC81 million to complete the building of the structure. But that did not materialise despite a nine-month completion deadline.
The market, which has been left abandoned for over twenty years, has sparked a growing agitation among traders and residents in the metropolis with many threatening series of protests. Addressing an assembly meeting, Kumasi Mayor Samuel Pyne said efforts are underway to secure additional funding from various sources including private partnerships to complete the project.
“Extensive deliberations have been held by the PPP committee concerning the agreement of the old contractors and seeking alternative funding sources for completion the nearly two-decade-old project, which would ultimately benefit the residents of Kumasi. Accordingly, efforts to abrogate the contract is on course and a formal report is yet to be submitted to the District Assemblies Common Fund Secretariat and the Ministry of Local Government Decentralisation and Rural Development,” the Mayor disclosed.
He also provided additional information about the status of the redevelopment of satellite markets initiated by the Assembly.
“To create an enabling environment for businesses and trading activities to thrive, the Assembly has embarked on the redevelopment of a number of markets in the Kumasi Metropolis. Notable among these redevelopment projects are: Sepe Aprampram Market, Abrepo Market, Asafo Market, Roman Hill Shops and Lobito Shops. Contracts have already been awarded for these projects through the Public-Private Partnership (PPP) program, and work has commenced on some of the sites.
“The projects are designed to provide decent trading spaces for the inhabitants of the respective communities to
conduct their businesses smoothly.”
The first ordinary meeting of the first session of the ninth Kumasi Metro Assembly Meeting gave the City Mayor an opportunity to update Assembly members on progress made so far in the area of governance, security, and sister city relations, among others.
Other performance areas which formed part of the Mayor’s address were youth and Sports, Social Welfare and Community Development, Trade and investment, and Spatial Planning and Development Control.
Thorough discussion of the report and other pressing matters continues on Thursday (9 May).
Reporting By Jonathan Ofori in the Ashanti Region
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