Richard Ofori Agyeman, popularly known as King Zuba, the Chief Executive Officer of the Kumasi Metropolitan Assembly (KMA), has given a hopeful timeline for the completion of the long-stalled Krofrom Market, promising that by December 2027, residents of Kumasi will finally see the market fully operational.
In an interview with LuvFm monitored by Kumasimail.com Ofori Agyeman, who lives in Krofrom and personally shops at the market, shared his deep connection to the project.
“I live at Krofrom, so that’s my area. I go there every day; that’s where I get bread and minerals for my household,” he said, underscoring his personal stake in the market’s revival.
He revealed that several investors, including individuals from Turkey, England, and Kumasi, have demonstrated the financial capacity to complete the market.
“I have about five people who have shown enough financial capacity to complete it, and I am confident I will select one of them,” he stated adding that “Some work has already been done, and I want to review the documentation to understand the level of completion and what remains”.
When asked about the financing model, Ofori Agyeman hinted at the possibility of using Build-Operate-Transfer (BOT) or Public-Private Partnership (PPP) arrangements.
He pointed to the successful transformation of the abandoned Hussey Park in Obuasi into a revenue-generating lorry terminal as a blueprint.
He said “When I went to Obuasi, Hussey Park had been abandoned. What the people wanted was a lorry terminal, and I got them one. It is now generating revenue for the assembly, so it could be a Build-Operate-Transfer (BOT) project.
“Given the current state of the country’s finances, depending solely on government funding to complete the market will be difficult. Therefore, once someone shows the financial capacity to complete the market, all that the people needs is market. I will allow that individual to take it on.”
On the status of the Abinchi Market, another key commercial hub, King Zuba said he is reviewing the contract and financial capacity of the company involved in its demolition and redevelopment.
“I want to see if the company handling the demolition is the same one contracted for the project. If there is room for adjustments in the contract, we will explore those options,” he added.
Background
The Krofrom Market project, initiated during the John Agyekum Kufuor administration, has been stalled for nearly two decades due to funding challenges.
Efforts to secure government loans and alternative funding have so far been unsuccessful, leaving traders to operate in congested and informal settings around Kumasi’s Central Business District.
The completion of Krofrom Market, alongside the Central Market redevelopment, is expected to alleviate congestion and improve commercial activities in the city.
Source :www.kumasimail.com /Kwadwo Owusu
