Kumasi mayor Kwadwo Bonsu has said the Kumasi Metropolitan Assembly (KMA) requires €16 million between 2013 and 2015 to enable it attain the Millennium Development Goals (MDGs).

Out of the amount, €6 million will be channeled into educational projects, €3 million will go into health and the remaining €7 million will be used to address sanitation problems in the metropolis. The mayor disclosed this at an investment roadshow organised by the assembly in collaboration with its development partner, Millennium Cities Initiative (MCI), in Accra.

The investment roadshow is aimed at attracting investment into the metropolis from potential investors at home and abroad. The 2012 MDG report indicates that Ghana has met the primary school completion rate target but Kumasi is still below the MDG target.

However, Kumasi has done well in reaching the adult literacy target, with 74% of the adult population being literate, while Ghana still faces challenges with 35% of the adult population being illiterate.

In the area of health, the proportion of people living with HIV in Kumasi is 3.6 percent, higher than the national average of 1.5 percent. This means that Kumasi has to reduce its rate by 2.1 percentage points to achieve the MDG target.

According to Mr. Bonsu, the assembly does not want to depend on the government alone to realise its dreams: that is why it has come out to organise this investment show to woo investors to the city.

“Now, most of the donors want to deal directly with the towns, districts and cities; that is why KMA wants to position itself well to attract investors into the assembly to ensure we bring comfort to our people,” he said.

He said KMA has worked with the Millennium Cities Initiative to undertake extensive research to identify viable investment opportunities in and around Kumasi.

Investment opportunities have been identified in the areas of property development, agriculture, agribusiness, and food processing amongst others, he added.

He said similar investment promotion events were held in Kumasi, London, New York and Atlanta between 2008 and 2010 -- saying the one held in New York in September 2008 resulted in the establishment of a bamboo bicycle and toothpick factory in Kumasi.

He said the company currently produces bicycles and frames for the Ghanaian and European markets, while the toothpicks are being test-marketed in Kumasi.

MCI, a project of the Earth Institute of Columbia University of New York, has been working with the KMA to implement a number of initiatives aimed at creating a supportive environment for business and investment in and around Kumasi.

Key among these initiatives are the publication of an investor guide for Kumasi, the setting up of a Kumasi City Investment Promotion Unit, and the establishment of an Investment Technical Committee made up of representatives from the public and private sector.