The Attorney-General and Minister for Justice has filed at the High Court, six Counts of Charges against Professor Ameyaw-Akumfi and Solomon Asamoah for their roles in expenses incurred for a $2 million sky train project which according to the charge sheet, never materialised.
The charges filed on Tuesday, May 13 2025, seek to try Prof. Ameyaw-Akumfi and his co-accused for the offences of causing financial loss to the State contrary to section 23(1) and 179A of the Criminal and Offences Act, 1960 (Act 30) and SMCD 140, Public Property Protection Decree 1977.
The charges, brought 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 for the development of an urban Sky Train system in Accra—a project that was never executed.
The charges include wilfully causing financial loss to the state under the Criminal Offences Act, conspiracy to commit crime through intentional dissipation of public funds, and intentional dissipation of public funds under the Public Property Protection Decree.
Court documents reveal that the funds were disbursed in February 2019 without the requisite board approval for either the share acquisition or the payment itself.
The money, which belonged to the GIIF, is considered a public asset, and its unauthorized release has triggered criminal proceedings.
Investigators say the decision to disburse the $2 million violated proper procedure. Professor Ameyaw-Akumfi, named as the second accused in the case, is said to have informed investigators in his caution statement that he approved the transfer based on a recommendation by the first accused, Solomon Asamoah, then Chief Executive of the GIIF.
However, neither of the two accused has been able to account for the missing funds.
Professor Ameyaw-Akumfi was recently arrested in connection with the failed Sky Train contract.
The Sky Train project was envisioned as an elevated light rail transport system aimed at reducing traffic congestion in Accra and other major cities.
It was to be implemented through a partnership between the Government of Ghana and South Africa-based Africa Investment (PTY) Limited, which was expected to provide financing, technology, and infrastructure support.
The project, however, never materialised, despite the significant upfront payment made by the Ghanaian government.
The Sky Train project, initiated in 2018 as a public-private partnership for an urban rail system in Accra, involved a memorandum of understanding between the Ministry of Railways Development, Africa Investor Holdings, and GIIF.
However, investigations revealed the $2 million disbursement lacked proper due diligence and violated GIIF’s governance protocols.
Attorney General Dr. Dominic Ayine stated the accused acted outside their mandate, causing significant financial harm to the state. “The payment was unauthorized, and the project never materialized. This is a clear case of financial misconduct,” the filing stated.’
The case will proceed in the High Court, with the AG’s office indicating some GIIF board members have agreed to testify as prosecution witnesses.
