Finance

Ashanti Region: Three major projects stall over debt restructuring

These projects include phase two of the Kumasi International Airport and Kejetia Central Market and the 500-bed capacity maternity and children block at the KATH.

The Mayor of Kumasi Samuel Pyne in an interview with Accra based Citi News, attributed the halt to the government’s debt restructuring programme which is part of the bailout the country is presently seeking from the IMF.

“I don’t want to use the word stalled because it has been put on hold purposely because the government is doing a restructuring of our debt profile and most of these contracts fall under the projects that have been put on hold, and it is not only the Kumasi Central Market phase two or the Maternity and Baby Unit at the Komfo Anokye Teaching Hospital.” he said.

He, however, assured that works on the project will resume once the debt restructuring programme ends.
“Work will resume after the completion of the debt restructuring programme.” he added.

Sources on the other hand reveal that the Ministry of Finance since December 2022, stopped releasing funds for the projects leading to the laying off of some 2000 workers.

Some residents in Kumasi fear the projects will be abandoned and have thus called on government to find ways to ensure work resumes in the nearest possible time.

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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