Kejetia traders demand controls as shop owners resell spaces at inflated prices
Traders at the Kumasi Central Market have called for tighter controls over the transfer and rental of shops following revelations that some owners are subletting spaces at significantly higher prices than the premiums they originally paid.
Shop owners at Kumasi Central Market are demanding stricter regulations on the transfer and rental of shop spaces after it was discovered that some owners are subletting locations at disproportionately high prices. Nana Akwesi Prempeh, president of the Federation of Kumasi Traders, addressed the issue on JoyNews’ afternoon program, stating that individuals, not the market management, are responsible for renting out these spaces.
He emphasized the need for a clear policy that mandates shop owners to seek approval from management prior to renting out or transferring their areas.
The market's redevelopment efforts are at risk due to inflated shop prices; local government minister’s figures revealed that some shop owners bought spaces for about GH¢25,000 and now rent them for up to GH¢100,000. Nana Prempeh expressed that the primary focus should be on ensuring that existing shop owners meet their financial commitments. He appealed to the traders’ union and market management to expedite efforts to recover the outstanding payments, which are crucial for sustaining the redevelopment project.
Despite the controversy surrounding the resale of shop spaces, the Kumasi Mayor, Richard Ofori Agyemang Boadi, noted that such actions might not necessarily involve wrongdoing and called for consultations with traders and financial institutions to create regulatory frameworks. He stressed that revenue from Kejetia should be used for future market development projects rather than continuing to rely on loans.
The mayor warned that shop owners who do not clear their premium payments by December 31, 2026, face the possibility of losing their spaces. This announcement is part of renewed strategies by the Kumasi Metropolitan Assembly to boost market revenue and fund the ongoing redevelopment works.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
