Prof. Ameyaw-Akumfi Detained Over Controversial $3B Accra Sky Train Project
Professor Christopher Ameyaw-Akumfi, former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), has been detained by the National Intelligence Bureau (NIB) over his alleged involvement in the botched $3 billion Accra Sky Train project.
According to sources, Prof. Ameyaw-Akumfi was picked up on Sunday, February 23, 2025, for allegedly authorizing the release of $2 million to Africa Investor Holdings, the company behind the project. Reports indicate that the payment was made before feasibility studies were conducted, and the funds have yet to be refunded to the state.
The Accra Sky Train project, launched in 2017 under President Nana Akufo-Addo, was envisioned to transform urban transportation in Ghana. However, it became mired in controversy due to financial mismanagement and a lack of due diligence.
In July 2023, the Minority in Parliament questioned the government about the $2 million payment made to Africa Investor Holdings. The 2021 Auditor-General’s report revealed that the Ai Sky Train Consortium Holdings, set up for the project, lacked the required operational license to execute the initiative.
Adaklu MP Kwame Agbodza criticized the transaction, stating:
“The Government of Ghana encouraged an investor from South Africa to set up a Special Purpose Vehicle in Mauritius. Before feasibility studies even began, $2 million was paid to this entity. Who authorized this payment?”
The Auditor-General’s report later classified the investment as a net liability, indicating that the state had effectively lost the funds.
Prof. Ameyaw-Akumfi’s detention is part of an ongoing investigation into financial mismanagement at GIIF. His legal team is working to secure his release, though NIB officials describe the move as part of a routine investigative process.