Local Government, Chieftaincy and Religious Affairs Minister Mahama Ayariga says there is evidence that some shops at the Phase One of the Kumasi Central Market redevelopment project were acquired for GH¢25,000 and subsequently resold or sublet for between GH¢100,000 and GH¢120,000.
Ayariga made the disclosure during a stakeholder engagement in Kumasi on September 20, 2026, as authorities discussed funding and the completion of the Kejetia Market Phase II project. He said the reported practice meant individuals were benefiting from the difference between the subsidised premium and prevailing market values.
The minister said that if GH¢100,000 represents the prevailing market value of a shop, the state should consider collecting that value directly and using the revenue to support the development of Phase Three.
He also indicated that the government is considering a market-based approach to future allocations, with revenue from the facility helping to finance subsequent redevelopment works.
The Kumasi Metropolitan Assembly has reportedly collected GH¢89 million out of GH¢165.3 million expected from Phase One five-year premiums, highlighting the financing challenge facing the project.
Meanwhile, arrangements are reportedly being made for contractors to return to the Phase Two project site in October 2026. The completed Phase Two is expected to provide thousands of additional trading spaces and supporting facilities for traders and residents.
