Govt secures GH¢100m towards Krofrom Market completion
The Kumasi Metropolitan Assembly (KMA) has secured GH¢100 million through the Social Investment Fund (SIF) under the Ministry of Finance to complete the Krofrom Market project and boost economic activity within the metropolis.
Based on an estimate by Avangarde Limited, the project's consultant, a total of GH¢179 million is required to complete the long-awaited market project.
The Chief Executive of the KMA, Richard Ofori-Agyeman Boadi, said the intervention became necessary because the allocation under the assembly’s share of the 24-Hour Economy Project was substantially inadequate to ensure full completion.
“I undertook a series of engagements and lobbying efforts to facilitate the release of funds required to complete the project. Works on the site have resumed, with Attachy Constructions Limited, the anchor contractor, working diligently to ensure completion of the project,” he said.
Meeting
Mr Boadi disclosed this while delivering his sessional address at the first ordinary meeting of the third session of the ninth KMA assembly, held at the Prempeh Assembly Hall last Monday, May 25, 2026.
The current state of the Krofrom market
He indicated that this intervention underscored the unwavering commitment of President John Dramani Mahama and the Asantehene, Otumfuo Osei Tutu II, to the realisation of the project.
Additionally, he said a seven-member committee had been constituted, comprising representatives from the regional coordinating council and technical officers of the assembly, to facilitate processes for the allocation of spaces and to develop operational modalities for the market upon completion.
Development projects
He reported that the assembly was currently implementing 30 development projects in education, health, water and sanitation, governance among others.
Specifically, he mentioned ongoing construction of a six-unit classroom each at Adumanu, the Santasi M/A basic school and the Adabiya Islamic school at Krofrom, as well as construction of classroom blocks at the Wesley College Demonstration School ‘B’.
Others include the construction of 12 boreholes in selected communities, the construction of eight footbridges across various streams in some areas, and the construction of the Pediatric Centre, Ward, and Staff Accommodation at the KMA Clinic.
He announced that the Ghana Education Trust Fund would, by the close of the year, commence the construction of a new dining and assembly hall for the Islamic Senior High School, Kumasi and another dining hall complex for the Serwaa Nyarko Senior High School.
Improved revenue strategy
Mr Boadi said building on the gains made in 2025, the assembly has adopted measures aimed at improving revenue collection efficiency, minimising leakages and enhancing public confidence in the management of KMA’s revenue sources.
As part of these measures, the assembly successfully implemented an electronic billing system, under which bills were dispatched to businesses within the metropolis by the second week of January 2026.
“This initiative has improved accuracy in revenue administration, minimised challenges associated with boundary disputes and reduced unauthorised revenue collection activities,” he stated.
IGF
He said the assembly projected a total revenue target of GH¢ 127,710,087.00 for the 2025 fiscal year.
However, he said the assembly realised GH¢102,896,281.82, representing an overall performance rate of 80.57 per cent.
Notably, he added that the assembly exceeded its internally generated fund target, noting that against a projected amount of GH¢ 39,821,162.00, the assembly mobilised GH¢ 42,748,534.73, representing an overperformance of 7.35 per cent.
“This impressive achievement was driven largely by significant improvements in key revenue lines, including land-related permitting, which exceeded its target by 67.06 per cent; rental of facilities by 37.56 per cent; fines and penalties by 56.61 per cent and business operating permits by 10.12 per cent,” he stated.
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