CEO of GIIF refuses advice from board to retrieve US$2m in the defunct AiSkyTrain contract to the state – Masemtvgh investigation reveals

Masemtvgh, a social advocacy network, has discovered from a reliable source, a consistent refusal by the Chief Executive Officer of Ghana Infrastructure Investment Fund (GIIF) Mr Solomon Asamoah on the advice by the board to retrieve the US$2m amount paid to the AiSkyTrain Consortium.

This shocking revelation was disclosed in a close investigation carried out by Masemtvgh on this issue of national interest after Minority in Parliament called for a refund of the money from the AiSkyTrain Consortium to the state due to no work done.

Masemtvgh in its investigation discovered how close the CEO of GIIF, Mr Solomon Asamoah was to the Finance Minister, Mr Ken Ofori Atta giving him the urge over the board of GIIF to disrespect their advice. A close source recounted to Masemtvgh on the several attempts made by the board to get Mr Solomon Asamoah to retrieve the amount has been ignored by the CEO.

It must be placed on record that several attempts made by Masemtvgh, including phone calls, text and whatsapp messages to get Mr Solomon Asamoah speak on the findings of the investigation has proven unsuccessful.

Background of the story

The Akufo-Addo government in November, 2018 indicated of building a sky train in Ghana to boost transportation in Accra.

On 11th November, 2019, this sky train construction received a big boost with the signing of a concession agreement between the Government of Ghana and AiSkyTrain Consortium of South Africa. This signing ceremony took place in South Africa as part of the ongoing Africa Investment Forum’s Invest in Africa’s Space event held in Johannesburg. This information was published at the ministry’s own site accra sky train investment project receives big boost with signing of … https://mrd.gov.gh/4/16/105/accra-sky-train-investment-project-receives-big-boost-with-signing-of-concession-agreement

The project, which was to be opened in August 2020, has not seen any work done and that the minority in Parliament and other groups and individuals have called on the government and the then Minister for Railway Development to retrieve the amount of US$2m which has been paid to the AiSkyTrain Consortium.

In response to the calls, the former Minister of Railways Development, Joe Ghartey indicated that the US$2 million payment to AiSkyTrain was not made by his ministry.

He insisted that the money was instead paid by the Ghana Infrastructure Investment Fund.

”It is the Ghana Infrastructure Investment Fund that paid the money and the Fund is mandated to make such payments” Mr Joe Ghartey made this statement in an interview on Eyewitness News on Citi Fm on Monday, 17th July, 2023.

Steps taking by Masemtvgh

Masemtvgh, as a dedicated advocate for transparency and accountability, calls on Mr Solomon Asamoah, the CEO of GIIF, to provide information on the state of the US$2m payment made to Africa Investment (Ai) SkyTrain Consortium Holdings.

Masemtvgh in its press statement, urges Mr Solomon Asamoah to do so within ten (10) working days to update the public on the steps taking to retrieve this amount. Masemtvgh will take up any necessary step available to compel Mr Solomon Asamoah to account on this issue should he refuse to provide the necessary information to the public.

Kindly read the full statement below;

FOR IMMEDIATE RELEASE

Unaccounted $2 Million Payment by Ghana Infrastructure Investment Fund Raises Serious Concerns and a case of Serious National Interest

Masemtvgh, a voice in investigative journalism and advocacy for transparency and accountability in Ghana, is deeply concerned about recent revelations regarding a significant financial transaction involving the Ghana Infrastructure Investment Fund (GIIF). These concerns revolve around the close relations between Mr. Ken Ofori Atta, the Finance Minister, and Mr. Asamoah Solomon, the CEO of GIIF.

The situation in question centers on a $2 million payment made by GIIF to Africa Investment (Ai) SkyTrain Consortium Holdings. What is most disconcerting is that this substantial sum was disbursed without any corresponding work being done to justify such an expenditure. This raises serious questions about the responsible allocation and management of public funds.

Furthermore, it has come to our attention that Mr. Ken Ofori Atta, the Finance Minister, has close relations with Mr. Asamoah Solomon, the CEO of GIIF. Given the Finance Minister’s significant role in overseeing Ghana’s financial matters, the nature of these relations raises concerns about potential conflicts of interest and undue influence in the administration of public funds.

Adding to the gravity of the situation, the current Board has raised concerns about the CEO’s refusal to retrieve the $2 million back into the state coffers despite several engagements with him. Regrettably, despite the great commitment shown by the board of GIIF, Mr. Asamoah Solomon has failed to retrieve the money from Africa Investment SkyTrain despite no work done for the state and has till date refused to update the state on the status of the funds. This lack of transparency and accountability undermines public trust in the stewardship of public resources.

Masemtvgh, as a dedicated advocate for transparency and accountability, calls upon Mr. Solomon Asamoah, CEO of GIIF, to provide an immediate and comprehensive update on the state of the $2 million payment made to Africa Investment (Ai) SkyTrain Consortium Holdings. We are deeply concerned by Mr. Asamoah’s consistent refusal to engage with Masemtvgh on this matter, despite our genuine and pressing inquiries.

We hereby issue a 10-day ultimatum to Mr. Solomon Asamoah to address the public and provide full transparency regarding the $2 million payment and the reasons for its disbursement to Africa Investment (Ai) SkyTrain Consortium Holdings without corresponding work being done. Failure to comply with this ultimatum will result in Masemtvgh taking further necessary actions to ensure that the truth is uncovered and accountability is upheld.

We believe that transparency and accountability are fundamental pillars of good governance and public trust. It is our sincere hope that Mr. Solomon Asamoah will heed this call for transparency and take the necessary steps to address this alarming situation.

Signed
Charles Akowuah Tuffour
CEO
Masemtvgh
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