Kejetia Market’s Insurance Coverage Expired – Managing Director

The Managing Director of Kumasi City Market, Mr Kofi Duffour, has said that the insurance coverage on the Kejetia Market has expired. He acknowledged that letters have been written to the Ministry of Finance to secure the necessary funds for the renewal of the insurance.

In an interview with Agudey on Nkwantannanso on June 13, he clarified that the insurance coverage primarily applies to the physical infrastructure of the market and does not extend to the individual shops of the traders. This is because it is challenging for the management to determine the value of the goods held by each trader.

“The insurance covers the physical infrastructure of the market and not the items being sold, as it is difficult for the management to assess the value of each trader’s merchandise,” Mr Duffour explained.

However, the market management has taken steps to encourage traders to insure their own shops. 

They facilitated a session where an insurance company provided information to the traders, and some traders took the initiative to insure their shops.

Addressing concerns about the market’s lack of a fire certificate, he confirmed that the market currently does not possess one. He clarified that the situation was not due to any negligence on their part.

Initially, the Fire Service had given approval for the market to commence operations, but subsequently changed their stance when it came to granting the fire certificate.

“We had received clearance from the Fire Service to open the facility for trading. However, when the time came to obtain the fire certificate, they reversed their decision,” Mr Duffour stated.

He said that in spite of the unavailability of the fire certificate, the facility is fully equipped with fire extinguishers and hydrants to fight any fire accidents that may arise.