THE SKY TRAIN SAGA—WIld Goose Chase.

The Sky Train project which received considerable media coverage during Nana Akufo-Addo’s regime has resurfaced. This time, a purported amount of 2million dollars assigned for the project cannot be traced( according to Ghana’s Attorney General and Minister for Justice).

Our investigation into the matter reveals the following facts.

1.The erstwhile Ministry of Railways Development has stated categorically that government did not allocate any funds for the Sky Train Project.

2. The Ministry managed to support the preparation of a 300 page PRE-FEASIBILITY report which was the basis for discussions with an investor group, Ai Sky Train Consortium ( a subsidiary of Africa Investor Consortium based in South Africa).

3. GIIF ( Ghana Infrastructural Investment Fund) was set up in 2014 to partner the Private Sector to promote infrastructural development. GIIF is mandated to invest in infrastructural projects through the granting of loans, acquisition of shares or both.

4. ⁠Resulting from discussions at International Fora in South Africa in 2018, GIIF led by the CEO Mr Solomon Asamoah expressed interest in acquiring equity shares in Ai Sky Train Consortium.

5. ⁠ Ten (10) percent of the EQUITY SHARES in Ai Sky Train Consortium were acquired from Africa Investor Consortium with an amount of 2 million dollars in 2019.

6.This equity investment is fully documented, with a share certificate issued in the name of the Ghana Infrastructure Investment Fund, demonstrating a legitimate and transparent transaction.

7.According to the literature, an estimated cost for the 194km route stood at approximately 2 BILLION US DOLLARS. A feasibility study required not less than 5 million dollars. So the 2 million dollars could not have been for the building of a rail line.

8.This clarified the funds were used to purchase 10 percent shares in Ai Sky Train Consortium from Africa Investor Holdings.

9.There are internal audit reports that captures these shares as part of Ghana Infrastructure Investment Fund’s investment portfolio.

10.The 2021 Auditor General’s report also acknowledges that these shares were indeed purchased.

The records indicate that these shares were duly purchased with dividends accruing on these shares.

Authored by T. B Okyere Darko Adu. Contact him on 0266846767

Source: Alrich24newsgh.blogspot.con

Comments

BEREKUM TRADITIONAL COUNCIL ACCEPT EIGHT GAZETTED CHIEFS

EIGHT (8) CHIEFS OF BEREKUM TRADITIONAL AREA GAZETTED AS DIVISIONAL CHIEFS IN BEREKUM TRADITIONAL COUNCIL. A number of eight (8) Chiefs in the Berekum Traditional Area have performed their oaths of secrecy to be gazetted as the divisional chiefs of Berekum Traditional Council. The chiefs, numbering 8, got their titles as "Osaberima" to be added to their traditional and rulership names. A high court judge, Justice Baayeh, on the 6th day of November 2018, led the chiefs to sworn in the oaths of secrecy before a certificates of recognition was issued to the chiefs as a divisional chiefs. The gazetted 8 chiefs has been granted the opportunity and right to be part of any sittings of the traditional council and by so doing, all the 8 chiefs have been approved by the government of Ghana to be part of the judicial committee of the Berekum Traditional Council. The gazetted chiefs are Osaberima Kwabena Diawuo Owusu II, the Katohene and Werempehene of Berekum, Osaberima Yeboah Dart...

25-Year-Old Young Man Electrocuted in Berekum.

25-Year-Old Young Man Electrocuted in Berekum . A suspected thief by the name Oboshie in his 25 years has been electrocuted at Berekum Nyamebekyere in the Berekum East Municipal of the Bono region . According to eye-witnesses, the suspected thief's lifeless body was found on the food vendor metal container as he attempted to steal from the container of the vendor who operates in a metal container. His death attracted a crowd of the Berekum people to the scene on the street of Nyamebekyere as everyone wants to catch a glimpse of the deceased over the incident of frequent robbery attacks and stealing in the Municipality. The residents have called on the youth to desists from such criminal acts to avoid this kind of death. The Assembly Woman for Berekum Nyamebekyere Electoral Area Hon. Veronica Benewaa explained that, the reports of household stealing has been too much in Berekum therefore advised the youth to stop such an attitude. Some of the residents also shared their feelin...

Ghana Armed Forces Helicopter Crash Claims the Life of Some 5 Government Officials and 3 Others.

Ghana Armed Forces Helicopter Crash Claims the Life of Some 5 Government Officials and 3 Others. It has been confirmed by the Chief of Staff Hon. Julius Debra at the Presidency the death of government officials who were on board a military helicopter crash today Wednesday 6th August, 2025 at Adansi Akrofuom. Dr Edward Kofi Omane Boamah, Minister of Defense. MP Alhaji Ibrahim Murtala, Minister of Environment, Science and Technology Dr. Samuel Sarpong, NDC National Vice Chairman. The death of the 8 people included the Defense Minister, Hon. Edward Kofi Omane Boamah, Alhaji Dr. Ibrahim Murtala Mohammed MP, Minister of Environment Science and Technology, Alhaji Manure Mohammed, Acting Deputy National Security Coordinator, Dr Samuel Sarpong, NDC Vice Chairman, Mr Samuel Aboagy former Parliamentary candidate, Squadron leader Peter Befemi Anala, Flying Officer Mannen Twum Ampadu and Sergeant Ernest Add Mensah. All flags has been ordered to fly at half-mast in honour of the victims. Ghana...

ALRICH 24 NEWS GH

Search This Blog