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Business & EconomyNews

Kejetia Market Power Crisis: ECG Sets September 16 Deadline for GH₵7M Debt Settlement

IMF Backs BoG Tight FX Rules, Says Measures Ensure Cedi’s Integrity & Combat Money Laundering
Solomon Boakye
Aug 18, 2024

The Electricity Company of Ghana (ECG), has given the management of the Kejetia Market, in Kumasi, a deadline of September 16, 2024, to settle its indebtedness of over GH₵7 million.

The market was plunged into darkness for three days due to the management’s failure to adhere to a repayment plan, prompting urgent negotiations with ECG.

The Public Relations Officer for ECG-Ashanti West, Benjamin Obeng Antwi, indicated a structured payment schedule during an interview, requiring an initial payment of GH₵200,000 by August 30, followed by GH₵273,000 by September 6, and a final legacy debt payment by September 10.

Despite previous discussions about installing separate meters for individual shops, the project has stalled due to feedback issues and the high cost of meters, which traders find burdensome alongside their existing debts.

Managing Director of Kumasi City Markets, Edmond Kofi Duffuor, acknowledged the traders’ concerns but emphasized the need for prompt debt settlement to facilitate the installation of separate meters, crucial for accurate billing and consumption tracking.

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