Kejetia Market Phase Two construction to resume in October

Kejetia Market redevelopment Kumasi market stall subletting infrastructure funding Ghana debt exchange

Construction on the second phase of the Kejetia Market redevelopment in Kumasi is scheduled to resume in October. The project, intended to add thousands of trading spaces and a transport terminal, has faced significant delays due to rising construction costs and Ghana’s broader debt situation, including the Domestic Debt Exchange Programme.

To address funding shortages, the government is exploring a model where traders pay market value for stalls to help finance the project's completion. Authorities noted that while the original €248 million contract was signed in 2018, current available funds may not cover the entire original design.

Officials have also raised concerns regarding financial irregularities in Phase One. Minister for Local Government Mahama Ayariga reported that some shop owners are subletting spaces at rates between GH¢100,000 and GH¢120,000, far exceeding the original GH¢25,000 premium. Additionally, Kumasi Mayor Richard Ofori Agyeman Boadi warned traders against fraudulent individuals claiming to secure shop allocations and urged them to use official channels for all transactions.