Accra: The State has initiated criminal proceedings against Christopher Ameyaw-Ekumfi, the former Board Chairman of the Ghana Infrastructure Investment Fund, and Solomon Asamoah, the former Chief Executive Officer of the Fund, for allegedly causing financial loss to the State and other related charges.
According to Ghana News Agency, the charges include wilfully causing financial loss to the State, intentional dissipation of public funds, and conspiracy to commit crime. These charges, filed under Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29), stem from a $2 million payment made in 2019 to Africa Investor Holdings Limited. This payment was intended for the development of an urban sky train system in Accra, a project that ultimately did not materialize.
Solomon Asamoah has been granted bail set at GH15 million, with two sureties required to justify the bail with registered land or property in the Greater Accra Region. The sureties must submit copies of their Ghana cards and digital addresses at the Court's registry. Furthermore, Asamoah is required to surrender his Ghanaian and UK passports and report to the Police on Mondays, Wednesdays, and Fridays until the case is resolved.
Christopher Ameyaw-Ekumfi was absent from the proceedings due to undergoing surgery on May 12, 2025. The State contends that the payment was made in February 2019 without the necessary board approval, either for the share acquisition or the disbursement of the funds, and claims that the decision to release the funds bypassed due process.
Ameyaw-Akumfi reportedly informed investigators during his caution statement that he authorized the transfer based on a recommendation from the former CEO. Despite these allegations, the accused have accounted for the missing $2 million.
The Sky Train project was conceived as an ambitious elevated light rail system aimed at alleviating traffic congestion in Accra and other urban areas. The contract, signed between the Government of Ghana and the South African company Africa Investment (PTY) Limited, was supposed to provide the necessary funding, technology, and infrastructure support for the initiative.
