Prof. Ameyaw-Akumfi and One Other Charged Over $2 Million Loss in Failed Sky Train Deal

Prof. Ameyaw-Akumfi and One Other Charged Over $2 Million Loss in Failed Sky Train Deal

By Stephen Apolima | Accra | May 13, 2025

The Attorney-General has formally charged Prof. Christopher Ameyaw-Akumfi, a former Minister of State, and Solomon Asamoah, former Chief Executive Officer of the Ghana Infrastructure Investment Fund (GIIF), for their alleged involvement in the unauthorized transfer of US$2 million to a foreign entity for a transport project that was never realized.

The charge, brought before the High Court (Criminal Division) in Accra, accuses the two of conspiracy to commit a crime and wilfully causing financial loss to the Republic, contrary to Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29).

According to the charge sheet in case number CR 0448/2025, the two men, in February 2019, acted together with a common purpose to cause the state a financial loss of two million United States dollars (US $2,000,000.00) by authorizing the transfer of public funds to Africa Investor Holdings Limited. The amount was purportedly for the construction of an urban sky train system in Accra — a project that never commenced.

The particulars of offence read:

“Solomon Asamoah and Prof. Christopher Ameyaw-Akumfi… did agree to act together with a common purpose to wilfully cause financial loss in the sum of Two Million United States of American dollars (US$2,000,000.00) to the Republic by causing, without authorisation, the said amount belonging to the Ghana Infrastructure Investment Fund (GIIF) and the Republic to be paid to the Africa Investor Holdings Limited purportedly for the building of an urban sky train system in Accra which system was never build [sic].”

The funds in question were drawn from the GIIF, a state fund established to finance strategic infrastructure, and were reportedly transferred without the necessary legal or procedural approvals. The government has argued that the payment constituted a misuse of public resources, especially in light of the fact that no work was ever executed on the promised transport infrastructure.

The sky train project, which gained public attention in 2019, was marketed as a revolutionary solution to Accra’s chronic traffic congestion. It was expected to provide a state-of-the-art elevated rail transport system. However, the initiative stalled at the conceptual phase, with no tangible outcomes delivered despite the significant financial outlay.

Legal and governance experts have welcomed the prosecution as a critical step in strengthening public accountability. “This case is not just about failed infrastructure—it’s about financial discipline and the consequences of disregarding the law in public financial management,” said a senior anti-corruption advocate.

Both accused persons are currently out on bail and are expected to appear in court as the case proceeds. They are presumed innocent until proven guilty by a court of competent jurisdiction.

The trial is anticipated to be closely watched, as it could set a precedent for future prosecutions involving the unauthorized use of funds under the guise of public-private partnerships and unexecuted national projects.

Further updates will follow as the court hears preliminary arguments in the coming days.