By Morkporkpor Anku
Accra, Feb. 11, GNA – Mr Kofi Boakye, a former Board Member, Ghana Infrastructure Investment Fund (GIIF), says the Board never approved the Sky Train Project nor authorised any payment for the acquisition of shares related to the project.
Mr Boakye, a native of Atimatim in the Ashanti Region, told an Accra. High Court that he served on the Board of GIIF from 2017 to 2021 and also acted as Board Secretary until a substantive secretary was appointed in March 2019.
He gave his evidence-in-chief in the trial involving Professor Christopher Ameyaw-Akumfi, the former Board Chairman of GIIF, and Mr Solomon Asamoah, the former Chief Executive Officer, GIIF.
They have been charged with willfully causing financial loss to the State, intentional dissipation of public funds, and conspiracy to commit crime.
The Former Board Chairman was granted a bail sum of GH¢10 million with two sureties, one of the sureties to be justified with landed property based in Greater Accra.
Mr Asamoah was also granted a GH₵15 million bail with two sureties, all to be justified with a registered land or property located in the Greater Accra Region.
The former Board Secretary confirmed that the Sky Train Project was among several projects that came before the Board during his tenure.
He said, at one of the Board meetings, the then Chief Executive Officer of GIIF, Mr Asamoah, informed members that he had travelled to South Africa as part of a Government delegation to a summit where presentations were made on the Sky Train Project.
Mr Boakye said the CEO further told the Board that the government delegation which attended the Annual Investment Forum in South Africa had decided that the Fund should participate in the project, a position the Board also expressed interest in.
He said following these developments, a presentation was subsequently made to the Investment and Financing Committee of the Fund.
However, Mr Boakye said although the Board approved several projects during his period of service, it did not approve the Sky Train Project.
He further told the court that the Board also did not approve the payment of US$2 million for the acquisition of shares in relation to the Sky Train Project.
Mr Boakye added that all relevant information concerning the project had been duly captured in the Board’s minutes.
The Court presided over by Justice Audrey Kocuvie-Tay adjourned to February 17, 2026 for the Defence to continue cross-examination of the witness.
The Accra SkyTrain project was a proposed elevated light rail system aimed at reducing traffic congestion and air pollution in Accra, Ghana’s capital.
In 2018, the Government signed a Memorandum of Understanding with the AiSky Train Consortium of South Africa.
Following the completion of a feasibility study, in November 2019 the parties signed a Build-Operate-Transfer concession agreement.
The company was to develop the system at an estimated cost of $2.6 billion with a capacity of 10,000 passengers/hour/direction.
GNA
11 Feb. 2026
Edited by Samuel Osei-Frempong