The Chief Executive of the Kumasi Metropolitan Assembly (KMA), Richard Ofori-Agyemang Boadi, says his administration has so far settled ₵42 million of the ₵142 million judgment debt inherited from previous administrations, easing the financial strain on the Assembly.
Speaking during an interaction with journalists, Mr Boadi described the debt situation he met upon assuming office as crippling, explaining that it had severely limited the Assembly’s ability to undertake key development projects.
“We inherited a ₵142 million judgment debt at KMA, and the creditors froze the Assembly’s account. Consequently, we were unable to access resources required to carry out essential developmental projects,” he said.
According to him, the creditors, frustrated by years of non-payment, secured a court order that froze the Assembly’s bank accounts, bringing routine operations and planned projects to a standstill.
He noted that since taking office, his administration has prioritised negotiations with the creditors, resulting in the partial clearance of the debt.
“So far, we have been able to clear ₵42 million of the ₵142 million judgment debt,” he revealed.
Mr Boadi added that discussions with other creditors are ongoing, with some agreeing to structured payment plans, a move he says has significantly reduced the financial pressure on the Assembly.
In addition to the judgment debt, the KMA boss disclosed that all outstanding fuel bills for the Assembly’s vehicle fleet have also been settled.
Looking ahead, he said the relief from the debt burden would allow the Assembly to redirect funds to priority areas such as road rehabilitation, sanitation improvement and community-based development projects.
“We are committed to restoring fiscal stability and delivering the development that the people of Kumasi deserve,” he assured.
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