GhPageNewsKMA's Administration block to be sold over debt

KMA’s Administration block to be sold over debt

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A construction company, FREDCO FD Company Limited has been granted access by a Kumasi High Court to sell the Kumasi Metropolitan Assembly (KMA) administration block to settle a debt of 5 million cedis.

The court order was granted on 28th September 2021 after the assembly failed to pay its debt to the contractor.

According to reports, the Kumasi Metropolitan Assembly owes contractors and business partners over 50 million cedis in four years.

This then resulted in the assembly seeking help from the central government to help settle its debt.

However, members of the Assembly last week threatened to resist attempts to confirm any nominee as Chief Executive until the central government pays off the Assembly’s outstanding debts.

The President’s nominee for KMA Chief Executive, Samuel Payne has revealed that his outfit has taken steps to seek help from the central government.

“Even if I go through the confirmation, the financial distress of the Assembly will impede the smooth running of KMA, but we are confident that all these issues will be sorted out because we are assiduously in talks with central government to settle the debt”, Samuel Payne asserted.

This is not the first time this company has seized properties from the KMA; in 2016, they were granted a court order to seize three vehicles of the assembly.

In 2017, they also secured a similar order to seize three buildings of the KMA including the Kumasi Mayor’s residence.

Source:Ghpage

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