By Morkporkpor Anku
Accra, Mar. 3, GNA – Mr Kofi Boakye, Second Prosecution Witness in the Skytrain trial, says the Ghana Infrastructure Investment Fund (GIIF) Board did not grant final approval for the project.
He told the court that although the Board expressed intent to participate, no investment committee recommendations or final Board approval were secured.
Mr Boakye said this during cross-examination by Mrs Victoria Barth in the trial of Prof Ameyaw-Akumfi, former Board Chairman of GIIF, and Mr Solomon Asamoah, former Chief Executive Officer of GIIF.
The two have been charged with wilfully causing financial loss to the State, intentional dissipation of public funds and conspiracy to commit crime.
Mr. Boakye referred to Board meetings held on September 5, 2018, and November 19, 2019, and maintained that while some procedural steps were undertaken, final approval remained outstanding.
Mrs. Barth pressed the witness on the meaning of “approval,” citing his witness statement in which he said unequivocally that “the board did not approve the Sky Train project” and “the board did not approve the $2 million payment.”
The witness maintained that approvals at GIIF follow elaborate processes involving multiple committees and recommendations before Board sanctions.
He disputed claims that all requested project documents were submitted to Board members, stating that key documents, including the memorandum of understanding (MoU) and concession agreements, were never presented at Board meetings and were only seen later during interrogation by the National Intelligence Bureau.
Mr. Boakye also stated that Ghana Sky Train Limited had been incorporated by the Chief Executive Officer without the knowledge of the Board, reiterating that the Board had not approved the project.
The cross-examination also touched on AI Sky Train Consortium Holdings, which holds 510,000 shares in Ghana Sky Train Limited, and the absence of Board representation in the special purpose vehicle, contrary to GIIF’s usual practice of appointing Board members to entities in which it holds equity stakes.
The witness requested time to review certain documents to complete his responses, and the court adjourned proceedings to a later date.
The Accra SkyTrain project was a proposed elevated light rail system aimed at reducing traffic congestion and air pollution in Accra.
In 2018, the Government signed a memorandum of understanding with the AiSky Train Consortium of South Africa.
Following a feasibility study, the parties in November 2019 signed a Build-Operate-Transfer concession agreement for the development of the system at an estimated cost of 2.6 billion dollars, with a projected capacity of 10,000 passengers per hour per direction.
GNA
Edited by Kenneth Sackey