The Korle Klottey Municipal Assembly has increased its internally generated revenue from GHS 14.7 million in 2023 to GHS 40 million in 2025. This significant 172% growth supports essential infrastructure development and solidifies the municipality's position as a leading investment destination.
This revenue surge follows successful reforms in revenue mobilisation. The Municipal Chief Executive, Hon. Alfred Allotey-Gaisie, highlighted the digitalisation of property rate collection and business operating permits as key drivers. These improvements have strengthened the Assembly's capacity to fund significant development projects across the area.
This achievement fits into Ghana's broader economic transformation agenda, focusing on empowering local authorities. Enhanced internally generated funds reduce reliance on central government allocations, promoting self-sufficiency. This financial autonomy allows for more tailored local development initiatives that directly benefit residents.
Hon. Alfred Allotey-Gaisie stated that nearly 80% of local development projects are funded through these internally generated funds. Major projects include the redevelopment of the Odawna Market, designed to accommodate approximately 6,000 traders. The Assembly has also invested in market modernisation, sanitation, waste management services, road infrastructure, and the construction of zonal council complexes.
This growth positions Korle Klottey as a vital commercial, financial, and administrative centre in Ghana. The municipality hosts the African Continental Free Trade Area Secretariat, underscoring its strategic importance. The increased revenue is expected to attract more investment, fostering job creation and improving urban infrastructure.
Member of Parliament for Korle Klottey, Dr. Zanetor Agyeman-Rawlings, called for investments that go beyond financial returns. She emphasised the need for human capacity building to ensure local residents benefit from new opportunities. Dr. Agyeman-Rawlings urged investors to include local suppliers and businesses in their operations.
The maiden Korle Klottey Business and Investment Forum, where these details were announced, highlighted the municipality's appeal. Government officials, investors, and business leaders gathered to explore economic growth opportunities. The event also saw the launch of the Korle Klottey Business and Investment Guide 2026, offering crucial information to potential investors.
Officials anticipate that the annual forum will attract further investment. It will also strengthen public-private partnerships, accelerating economic development within the municipality. Continued revenue growth and strategic investment will be crucial for sustained progress.
The focus on digital revenue collection systems reflects a national trend towards modernising public financial management. This approach can improve efficiency and reduce revenue leakages. Such initiatives are key to boosting local government capacity across Ghana.
Investors eyeing Ghana will likely consider Korle Klottey's proactive stance on development and revenue generation. The municipality's diverse population and strategic location make it an attractive prospect. Future investments are expected to enhance residents' overall quality of life through job creation and advanced technology.