Prof. Ameyaw-Akumfi Charged Over Unexecuted $2 Million Sky Train Deal

Professor Christopher Ameyaw-Akumfi, former Board Chair of the Ghana Infrastructure Investment Fund (GIIF), has been formally charged with conspiracy to commit a crime—specifically, wilfully causing financial loss to the state.

The charges, filed under Sections 23(1) and 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29), are linked to a $2 million payment made in 2019 to Africa Investor Holdings Limited for the development of an urban Sky Train system in Accra—a project that never came to fruition.

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Court documents reveal that the funds were released in February 2019 without proper board authorization for either the share acquisition or the disbursement. As the funds belonged to GIIF, a state-owned entity, their unauthorized release has sparked legal action.

Investigations indicate that due process was not followed. Prof. Ameyaw-Akumfi, named as the second accused, told investigators in his caution statement that he approved the payment on the advice of the first accused, Solomon Asamoah, who served as Chief Executive Officer of GIIF at the time.

However, neither Ameyaw-Akumfi nor Asamoah has been able to explain the whereabouts of the funds.

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Prof. Ameyaw-Akumfi was recently arrested in connection with the failed Sky Train agreement, which was initially touted as a transformative urban transport solution for Accra. The proposed elevated light rail system was intended to ease traffic congestion in the capital and other major cities.

The project was to be executed through a public-private partnership between the Government of Ghana and Africa Investment (PTY) Limited, a South Africa-based firm that was expected to provide funding, technology, and infrastructure. Despite the substantial initial payment, the project never advanced beyond the planning stage.