Punish those who led Ghana to invest in the failed Sky train project – Governs Agbodza
Governs Kwame Agbodza, Legislator for Adaklu and Ranking Member of Roads and Transport Committee in Parliament wants officials of the Ghana Infrastructure Investment Fund who endorsed the $2 million investment in sky trains punished.
He blamed the failure of the project on the lack of proper feasibility studies and due diligence which was supposed to be carried out.
Mr Agbodza termed the deal as illegal and demanded those involved to be brought to book.
“I think this is very reckless and the recommendation by the Auditor General that they should monitor and find out if they could recoup this money is just a slap on the back of the board and the management.”
“I think that the Auditor General should activate and probably send them to EOCO for this money to be retrieved,” the legislator said.
His pronouncements was on the back of the Auditor General’s report for 2021 which exposed the failed $2 million investment in sky trains and demanded that the project be monitored to see if the money can be recovered.
The Auditor General’s report in throwing more light on this sector, pointed out that the Government of Ghana through the Ghana Infrastructure Investment Fund had to pay US$2 million to Africa Investor Holdings Limited as part of requirements to be eligible for 10 ordinary shares at US$1.00 per share in Ai Sky Train Consortium Holdings (the SPV).
Premium paid for each share was US$199,999 according to the report. SPV reported a net liability on 31st December 2020.
The licence required for such ‘Aeromovel Technology’, Sky Train Project is yet to be acquired by Ai Sky Train Consortium Holdings.
Meanwhile, further probe into various activities that precede the project and also need approvals from the Cabinet of Ghana and Ghana’s legislature are currently being done.
The Auditor General pointed out that the investment made in the SPV will unfortunately not be realized if the Accra Sky Train Project does not get licensing, alongside approvals from the Executive and legislature.
