Korle-Klottey’s internally generated revenue jumps 72% to GHc40 Million
The Korle-Klottey Municipal Assembly (KoKMA) has taken the initiative to aggressively court private investors to fund a multi-million-cedi infrastructural overhaul, leveraging an impressive 72 percent surge in its internally generated revenue (IGF) to position Accra’s central business district as a hub for Ghana’s emerging 24-hour economy.Ghana business insights
Municipal Chief Executive (MCE) Alfred Allotey Gaisie made the pitch during the maiden Korle Klottey Business and Investment Forum, held in Accra, where he unveiled a master plan to transition the municipality away from dependence on the central government through strategic public-private partnerships (PPPs).
KoKMA has recorded an impressive 72 percent surge in IGF, soaring from GH₵25.3 million in 2024 to GH₵40 million by the end of 2025, a fiscal feat that the MCE says has unlocked the next phase of economic development.
The revenue growth empowered the municipality to undertake major infrastructure redevelopment projects, including the construction of 6,000 trader capacity markets and created a self-sustaining investment environment primed for private capital.
“The Assembly’s financial trajectory, moving from GH₵14.7 million in 2023 to GH₵25.3 million in 2024, and accelerating to GH₵40 million in 2025, has created a rare situation in Ghana’s local governance landscape where nearly 80 percent of the municipality’s development expenditure is funded internally, leaving only a 20 percent reliance on external sources,” he said.
This fiscal independence, Gaisie argued, provides a solid foundation for public-private partnerships (PPP) by demonstrating the Assembly’s capacity to co-finance and sustain capital-intensive projects.
Gaisie added that in the first quarter of 2026 alone, revenue collection has hit GH₵10,658,562, already achieving 48.79 percent of its target for this year, signaling that the growth trajectory remains progressive.
Immediate Investment Opportunity
The MCE highlighted that the immediate opportunity for investors lies in the series of transformative commercial infrastructure projects that the Assembly is now pushing forward with its fortified revenue base.
Central to this is the Odawna Redevelopment Project (ORP), a large-scale market modernisation designed to accommodate 6,000 traders upon completion.
Beyond Odawna, the municipality is also actively redeveloping Tema Station Market, where a three-storey, 184 lockable store facility is already under phased construction, alongside the Osu Day and Night Market and the Adabraka Fish Market.
These projects represent a deliberate strategy to replace informal, congested trading spaces with formal retail infrastructure, creating entry points for private investors in construction, facilities management, retail operations and associated logistics services.
Further deepening the investment pipeline, he mentioned that the Assembly has completed the construction of three-storey Zonal Council Complexes at Adabraka and Osu, complying with the Local Governance Act, 2016 (Act 936).
It is also directing funds into urban road networks and road safety interventions that directly support commercial mobility.
Korle Klottey Business and Investment Guide (BIG)
To formalise the facilitation of private capital, the forum launched the maiden Korle Klottey Business and Investment Guide 2026 (BIG’26), a resource document mapping the municipality’s competitive advantages, regulatory environment and specific investment opportunities.
The Assembly is positioning itself explicitly as the host of the AfCFTA Secretariat, a strategic locational advantage that places it at the center of Africa’s integrated market agenda.
Simultaneously, the municipality aligns with the national government’s 24-Hour Economy Policy, advocating for round-the-clock business operations in what is already Ghana’s premier commercial, financial and administrative hub.Ghana business insights
The Greater Accra Regional Minister, Linda Obenewaa Akweley Ocloo, who launched the ‘BIG 26’ at the event, commended the KoKMA for showing leadership and leveraging internal resources for redevelopment.
She highlighted that the municipality’s financial turnaround and geographical positioning create several lucrative entry points for local and international businesses, which must be leveraged strategically.
Member of Parliament for the Korle Klottey Constituency, Zanetor Agyeman-Rawlings, also reiterated that as the host of the African Continental Free Trade Area (AfCFTA) Secretariat and the nation’s primary financial hub, KoKMA is uniquely positioned to spearhead Ghana’s 24-Hour Economy Policy.
She added that businesses investing in logistics, round-the-clock financial services, hospitality and secure nightlife infrastructure will benefit from the municipality’s commitment to expanding operational hours, boosting productivity and facilitating cross-border African trade.
However, the very strength of the Assembly’s model presents a distinct challenge for the private sector. The challenge for investors will be to structure partnerships that balance the Assembly’s strong fiscal position with the commercial returns and risk allocations necessary to make the proposed market and infrastructure projects viable.
Comments (0)