Prof. Ameyaw-Akumfi charged over alleged $2m Sky Train payment

Professor Christopher Ameyaw-Akumfi, former Board Chair of the Ghana Infrastructure Investment Fund (GIIF), faces serious charges. He is accused of conspiracy to commit a crime. Specifically, he allegedly caused financial loss to the Republic.

The charges are based on a $2 million payment made in 2019. This payment was for an urban Sky Train system in Accra that was never built. Court documents show that the funds were disbursed in February 2019 without board approval.

The money belonged to the GIIF and is considered a public asset. Its unauthorized release has led to criminal proceedings against Ameyaw-Akumfi. Investigators claim that disbursing the $2 million violated proper procedures.

Ameyaw-Akumfi is named as the second accused in this case. He stated that he approved the transfer based on a recommendation from Solomon Asamoah, the first accused and then Chief Executive of GIIF. However, neither has accounted for the missing funds.

Recently, Professor Ameyaw-Akumfi was arrested due to the failed Sky Train contract. The Sky Train project aimed to create an elevated light rail system in Accra and other major cities. It was supposed to reduce traffic congestion through a partnership with Africa Investment (PTY) Limited.

This company would provide financing, technology, and infrastructure support for the project. Unfortunately, despite significant upfront payments by Ghana's government, the project never materialized.