The Honourary Vice President for IMANI Africa, Bright Simons, has filed a Right to Information (RTI) request demanding full disclosure on the utilisation of a sum of GH¢3.6 million belonging to the Kumasi Metropolitan Assembly (KMA).

This follows initial reports that the assembly had raised concerns over the missing amount, believed to be part of loan of GH¢8.6million for the KMA-Krofrom Market Project redevelopment.

According to the Ghanaian Times, during the 9th General Meeting of the KMA on May 8, it was revealed that a loan of GH¢5 million initially proposed for the redevelopment of the Krofrom market had been increased to GH¢8 million. However, only GH¢4.8 million had been utilised for the market project, leaving no documentation of the disbursement of the remaining GH¢3 million.

But in a press release issued on Friday, May 10, 2024, the KMA's Public Affairs Unit clarified that there had been no reports or claims from the Assembly indicating any misappropriation of funds amounting to 3 million cedis from the project budget.

The KMA's press release clarified that the Assembly had agreed to a loan facility of 5 million cedis from Fidelity Bank, which had been fully repaid with interest. The document further explained that while the agreed loan amount was 5 million cedis, the bank had disbursed 8 million cedis after contractors submitted certificates to that effect, which were duly approved by the KMA.

Despite numerous attempts by the KMA to seek clarification from the bank regarding the additional disbursement of 3 million cedis, no satisfactory explanation has been provided.

Reacting to this, Fidelity Bank clarified in a statement that no money was missing. They stated that the entire GH¢8.6 million disbursed for Phase 1 included both bank funds and KMA's contribution.

“There is no missing or unaccounted-for amount of GH¢3.6 million as indicated in KMA’s release. The entire amount of GH¢8.6 million disbursed for Phase 1 of the project comprised GH¢4 million disbursed from Fidelity Bank’s approved facility of GH¢5 million and the KMA’s own funds of GH¢4.6 million disbursed from their contribution of GH¢5 million towards the project,” the statement read.

However, lawyers for Bright Simons, Gratia Law Consult, are demanding “a detailed and thorough understanding of these arrangements (between Fidelity Bank and KMA)."

The lawyers argue that “on careful consideration of the statute and the circumstances at hand, that Fidelity Bank, because of its dealings with KMA and other state-owned institutions, qualifies to be listed as a “relevant private body” within the meaning of the term in Act 989 and, at any rate, is a quasi-public institution in view of its receipt of public resources through KMA and others.

“There are, therefore, ample statutory and public policy grounds for the requested information to be disclosed in full, without exception or exemption, and without any regard to commercial secrecy.”