The Korle-Klottey Municipal Assembly (KoKMA) saw its Internally Generated Fund (IGF) surge by 72% to GHS 40 million by the end of 2025. This significant increase from GHS 25.3 million in 2024 positions the municipality for major infrastructure development.
This substantial revenue growth empowers KoKMA to undertake large-scale projects, including constructing markets to accommodate thousands of traders. The financial independence also helps to attract private investors for public-private partnerships (PPPs). The municipality aims to enhance Accra's central business district as a hub for Ghana's emerging 24-hour economy.
This fiscal achievement aligns with Ghana's broader push for local government financial autonomy and economic development. Local assemblies are increasingly encouraged to generate their own revenue to fund their development needs. KoKMA's success demonstrates a model for reducing reliance on central government funds. This trend supports the decentralisation agenda and promotes local economic growth across Ghana.
Municipal Chief Executive Alfred Allotey Gaisie highlighted this fiscal strength during the Korle Klottey Business and Investment Forum. He stated, “The Assembly’s financial trajectory, moving from GHS 14.7 million in 2023 to GHS 25.3 million in 2024, and accelerating to GHS 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.”
The municipality’s improved financial standing makes it an attractive partner for investors in infrastructure. The focus now shifts to launching several transformative commercial projects. These include the Odawna Redevelopment Project, designed to house 6,000 traders. Other market redevelopments are also underway at Tema Station, Osu Day and Night Market, and Adabraka Fish Market. These projects aim to formalise trading spaces and create opportunities in construction, facilities management, and logistics.
To formalise investor engagement, KoKMA launched the Korle Klottey Business and Investment Guide 2026 (BIG’26). This guide outlines the municipality’s competitive advantages and specific investment opportunities. The municipality is also leveraging its position as the host of the AfCFTA Secretariat. This strategic location places it at the center of Africa's integrated market agenda. Continued robust IGF performance will be crucial for sustaining these ambitious development plans. Decision-makers and potential investors will closely watch the progress of these market developments and the municipality's ability to maintain its revenue growth.