The Parliamentary Select Committee on Local Government and Rural Development has said further delay in the completion of the Kejetia Central Market will negatively affect payment of the loan contracted for the project.
The $259 million project to reconstruct the Kumasi Central Market is supposed to be in two phases.
The government had plans to repay the loan through monies to be realized from the market after its completion.
Unfortunately, the first phase of the project has fallen behind schedule as the beginning of the loan repayment timelines draws close.
The delay in execution of the project hinges directly on litigation on structures earmarked for demolition to aid completion of the Market.
They include a structure cited few meters away from one of the entrances to the Kejetia enclave which blocks access to roads and drainage systems. This causes the ground floor of the new market to flood whenever it rains.
Another structure sits few metres from an area designated for electrical systems for the new market.
Though various attempts have been made to demolish these buildings, they continue to stand, impeding completion of the project.
Orders from the Kumasi Traditional Council to demolish the building are yet to yield any results.
Chairman of the Parliamentary Select Committee on Local Government, Kennedy Osei Nyarko, after inspecting the project said the new market will have to be completed and handed over to city authorities by the end of August this year.
“It is a must that the project is completed by end of August and handed over to the Kumasi Metropolitan Assembly (KMA) for traders to start coming in for trading.
“From there, the second phase commences, then we start finding ways of raising money from the traders to settle the loan”, he said.
At a meeting on Monday, the Parliamentary Committee proposed the KMA partners with private developers to help pay compensation for the demolition of the obstructing structures.
“They should get a couple of investors and make an arrangement for them to pay for the demolition so they can use the part of the land for a project that compliments this one”, he added.
Meanwhile, Kumasi Mayor, Osei Assibey Antwi says plans are far advanced to get private participation in clearing obstacles impeding the completion of the project.
”We will are looking for investors who will take up the cost of demolition and later build a modern storey car park to ease pressure on the new market”, he added.