The meeting, which brought together banks, non-banking institutions, filling stations, and hoteliers, was chaired by Municipal Chief Executive Hon. Ransford Owusu Boakye and facilitated by Municipal Coordinating Director Mr. Johnson Nyarko.

Key Proposals

The Assembly proposed an annual rate of GHS 18,000 to GHS 24,000 for banking and non-banking institutions, with the final amount depending on category, size, and location. The figures are subject to further deliberation and approval by the General Assembly.

Mr. Nyarko disclosed that the Assembly is undertaking a comprehensive review of its Fee Fixing Resolution, with a revised structure set to take effect from 2027. He noted that fees for financial institutions have remained unchanged for the past four years, despite rising operational costs and economic expansion.

"These engagements are a statutory requirement to build consensus before final determination of rates," he stated.

Development Commitments

The MCE highlighted ongoing road rehabilitation projects in Koforidua aimed at improving accessibility to business premises. He also announced plans for a Trade Expo at Jackson Park in collaboration with the Eastern Regional Coordinating Council, providing a platform for businesses to showcase their products and services.

On the issue of mast erection by African Towers at the Kumasi lorry station, Mr. Owusu Boakye assured stakeholders that the Assembly would engage all relevant parties, noting that the project is being conducted under a license from the National Communications Authority.

Stakeholder Feedback

Participants sought clarification on the categorization criteria within the proposed fee range and appealed for flexible payment schedules and adequate notice before the implementation of revised fees in 2027.

The MCE assured that all concerns raised would be factored into the final resolution before it is presented to the General Assembly for approval.

"I thank all corporate institutions for their continued cooperation and support to the Assembly's development agenda," he concluded.