KMA says it has cleared ₵42m of inherited judgment debt
By DL News
Published
1 min read
Mr Boadi told journalists that when he took office the liability had become a major operational risk, with creditors obtaining a court order that froze the Assembly’s bank accounts.
The Chief Executive of the Kumasi Metropolitan Assembly (KMA), Richard Ofori-Agyemang Boadi, says the Assembly has paid ₵42 million out of a ₵142 million judgment debt left by previous administrations, a move he says has begun to stabilise KMA’s finances.
Mr Boadi told journalists that when he took office the liability had become a major operational risk, with creditors obtaining a court order that froze the Assembly’s bank accounts.
He said his administration has made debt resolution a priority, engaging creditors to unlock the Assembly’s accounts and negotiate repayment terms. According to him, some creditors have accepted structured payment plans, which he says has eased cashflow pressures and created room for basic service delivery.
Mr Boadi also disclosed that outstanding fuel bills linked to the Assembly’s vehicle fleet have been settled.
He said the improved fiscal headroom would allow the KMA to refocus spending on key priorities, including road rehabilitation, sanitation, and community-based projects, as the administration targets what he described as a return to financial stability for the city.
