Former GIIF CEO, Prof Ekumfi charged over $2 million botched Sky Train deal

The Attorney-General’s Office has charged former CEO Solomon Asamoah. He was the Chief Executive Officer of the Ghana Infrastructure Investment Fund (GIIF). Also charged is former Board Chairman Prof. Christopher Ameyaw-Ekumfi. They are linked to the controversial Accra Sky Train project. This project cost the state $2 million but produced no results.

The charges were filed today at the High Court (Criminal Division). They include willfully causing financial loss to the state. Other charges are conspiracy to commit a crime and intentional dissipation of public funds. These actions violate Ghana’s Criminal Offences Act and Public Property Protection Decree.

The prosecution claims that in February 2019, they authorized a $2 million payment. This payment was made from GIIF to Africa Investor Holdings Limited for preliminary work on the Sky Train initiative. The Sky Train was proposed as an urban rail system for Accra. However, this payment allegedly occurred without necessary board approval, and the project was never executed.

The Sky Train project began in 2018 as a Public-Private Partnership. It involved the Ministry of Railways Development, GIIF, and Africa Investor Holdings. The project aimed to solve transport challenges in Accra but faced significant governance issues later on.

Attorney-General Dr. Dominic Ayine stated that the accused acted outside their legal authority. Their actions caused substantial financial loss to the state. “The payment was unauthorized, and the project never materialized,” he noted. “This is a clear case of financial misconduct,” according to the charge sheet.

The High Court will now hear this case. The Attorney-General’s Office confirmed that some GIIF board members will testify as witnesses for the prosecution.