Finance Minister Dr Cassiel Ato Forson has disclosed that government has allocated GH¢685 million towards the completion of the Kejetia Market Phase Two project in Kumasi, as part of a broader package for local governance and market infrastructure in the 2027 Budget.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, he stated that the allocation formed part of GH¢17.6 billion set aside for local governance, chieftaincy and religious affairs to strengthen local administration and improve community services.
“We have allocated GH¢17.6 billion to local governance, chieftaincy and religious affairs to support local administration and community services,” the Finance Minister told the House.
He said the funding would be channeled into key local development priorities, including district-level infrastructure, market projects, rural housing and the completion of stalled public facilities.
“Out of this amount, Mr Speaker, we have made the following allocations: GH¢10.8 billion to the District Assemblies Common Fund to support development in our districts and communities; GH¢685 million for the construction of a modern Greater Accra Regional Market, New Agbogbloshie; and GH¢685 million towards the completion of Kejetia Market Phase Two,” Dr Forson stated.
The Minister further announced that GH¢500 million had been allocated for the construction of rural housing, while GH¢200 million would go towards the completion of the Takoradi Market project.
The GH¢685 million commitment to Kejetia Market Phase Two comes after months of uncertainty over the future of the project, which stalled following financial constraints.
The project had remained incomplete for about two years, with work suspended at just over 58 per cent completion.
Government had earlier indicated that negotiations with the contractor had been concluded to allow work to resume.
The Minister for Local Government, Chieftaincy and Religious Affairs, Mahama Ayariga, had said the Finance Minister approved arrangements for contractors to return to site and continue the project.
The Kejetia Market redevelopment is one of Ghana’s most significant urban trading infrastructure projects.
Phase Two was originally awarded in 2018 at a contract value of €248 million, but the projected cost later rose to about €305 million following delays, suspension claims and outstanding financial obligations.
At the time work was suspended in 2024, engineering works were reported to be 98.8 per cent complete, procurement was at 77 per cent, while actual construction [was at just over 58 per cent].
His announcement is therefore expected to provide a major boost to traders, market women and residents of Kumasi, who have long awaited the completion of the facility. It also signals government’s intention to prioritise the completion of stalled market projects across the country.
By Benjamin Aidoo
