Prof. Ameyaw-Akumfi charged over alleged $2m Sky Train fraud
The former Chief Executive Officer of the Ghana Infrastructure Investment Fund (GIIF), Professor Christopher Ameyaw-Akumfi, has been charged with conspiracy to commit crime — specifically, wilfully causing financial loss to the Republic.
The charges, filed under Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29), relate 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 was never built.
According to court filings, the payment was made in February 2019 without the necessary board approval for either the share acquisition or the disbursement of the funds. The amount in question belonged to the GIIF and, by extension, the Republic of Ghana.
Investigations have revealed that the decision to release the funds was made without due process. Professor Ameyaw-Akumfi, who has been named the second accused in the case, reportedly told investigators during his caution statement that he authorised the transfer based on a recommendation from the first accused person. However, neither of the two accused has been able to account for the missing $2 million.
Professor Christopher Ameyaw-Ekumfi was recently arrested in connection with the botched contract.
The Sky Train project was proposed as an ambitious elevated light rail system to ease congestion in Accra and other urban centers.
The contract was signed between the Government of Ghana and a South African company, Africa Investment (PTY) Limited, which was supposed to provide funding, technology, and infrastructure support for the project.
