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Demolition of Sekyedumase Community Bank: MCE remains tight-lipped

The Municipal Chief Executive (MCE) of Asokore Mampong, Alhassan Ben Abdallah, has declined to comment further on the demolition of the Aboabo branch of Sekyedumase Community Bank PLC, saying he will wait for the final determination of the court before making further comments on the matter.

Date Created : 8/12/2026 : Story Author : Emmanuel Frimpong/Ghanadistricts.com

The Asokore Mampong Municipal Assembly demolished the bank’s premises to pave the way for the redevelopment of the Aboabo Market into a 24-hour economy facility.

However, sources familiar with the development believe the Assembly could face a compensation claim over the demolition, amid a dispute over whether the bank was given adequate notice and sufficient time to relocate.

The Assembly maintains that it engaged the bank repeatedly from 2025 over the planned redevelopment and the need to relocate the branch. The bank, however, insists that its relocation process had not been completed when the building was demolished and has indicated that it will assess the losses incurred and seek fair and adequate compensation from the Assembly.

The bank argues that relocating a banking facility requires considerable time, as the process involves regulatory approvals, security assessments, Board approval, installation of banking infrastructure, and the secure transfer of customer records, equipment and other assets.

According to the bank, it subsequently raised concerns with the Assembly and other institutions, including the Bank of Ghana, ARB Apex Bank and the Ashanti Regional Coordinating Council, warning about the risks associated with demolishing the building while customer records, computers, banking equipment, furniture, cash and other valuable assets remained on the premises.

Proposal to Incorporate Structure into Market Redevelopment

The bank also said it had earlier proposed that its existing one-storey building be incorporated into the redevelopment of the market.

The proposal was, however, rejected by the Assembly, which explained that “the final architectural and engineering designs for the project did not permit the structure to be retained.”

The disagreement reportedly escalated when contractors began placing laterite and other materials at the entrances to the bank, disrupting its operations. The bank also claimed that electricity to the premises had been disconnected.

The dispute could ultimately centre on whether the Assembly properly terminated the bank’s tenancy, whether adequate notice was given and whether the bank suffered losses as a result of the demolition.

24-Hour Economy Project

The demolition forms part of the Assembly’s broader redevelopment of the Aboabo Market under the government’s 24-hour economy agenda.

The new market is expected to provide modern trading facilities, parking spaces, security and emergency service posts, a 24-hour clinic and pharmacy, a daycare centre and a Women’s Bank component.

The project is intended to transform the Aboabo Market, improve trading conditions and stimulate economic activity in the area.

However, the dispute with Sekyedumase Community Bank could introduce an additional financial liability for the Assembly if the bank successfully challenges the demolition in court and establishes a claim for compensation.

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Demolition of Sekyedumase Community Bank: MCE remains tight-lipped

Date Created : 8/12/2026 : Story Author : Emmanuel Frimpong/Ghanadistricts.com

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