General News
$2m Skytrain Scandal: Prof. Ameyaw-Akumfi Hospitalised, Ex-GIIF CEO Remains in Custody
Solomon Asamoah, the former CEO of the Ghana Infrastructure Investment Fund (GIIF), remains in police custody after failing to meet bail conditions set by the Accra High Court in a $2 million financial loss case related to the controversial Skytrain project.
Asamoah and Prof. Christopher Ameyaw-Akumfi, former GIIF Board Chair, are facing charges for allegedly authorizing the transfer of $2 million from GIIF’s account to Africa Investor Holdings Limited, a South Africa-registered company, without board approval. The funds were intended to purchase shares for the Skytrain project, but no follow-up actions were taken, and the investment yielded nothing.
At the first court hearing on May 13, 2025, Asamoah pleaded not guilty to six counts including conspiracy, willfully causing financial loss to the state, and misuse of public funds. Prof. Ameyaw-Akumfi was absent.
Presiding judge Justice Comfort Kwasiwor Tasiame granted Asamoah bail of GH¢15 million with two sureties, to be secured with registered land in Ghana. However, at the second hearing on May 20, he was still in custody and appeared in court under police escort. Sources confirmed he had not yet met the bail requirements.
Prof. Ameyaw-Akumfi missed the session again, reportedly due to medical reasons. His lawyer, Duke Aaron Sasu, told the court his client had been rushed to a hospital ward earlier that day and requested an adjournment, promising his client’s return by Monday.
The case has been adjourned to May 26, 2025.
Prosecution’s Case
Deputy Attorney-General Dr. Justice Srem-Sai outlined that the Accra Skytrain project was intended to be executed under a design, finance, build, and operate model. According to a Memorandum of Understanding (MoU), GIIF was to serve as the anchor equity investor and local development partner to Africa Investor Holdings (Pty) Ltd.
The MoU also stipulated that GIIF would conduct due diligence and prepare a bankable feasibility study.
On January 9, 2019, a shareholders’ agreement was signed between Africa Investor Holdings Ltd (registered in Seychelles) and GIIF. Under this deal, Africa Investor Holdings was to transfer 10% of its alleged 100% shares in Ai SkyTrain Consortium Holdings (a Mauritius-registered company) to GIIF.
Asamoah signed the agreement on behalf of GIIF. Weeks later, on February 4, 2019, Ai SkyTrain Consortium Holdings requested $2 million as payment for the shares, citing the agreement.
On February 25, 2019, both Asamoah and Prof. Ameyaw-Akumfi instructed United Bank for Africa to transfer $2 million from GIIF’s Project Development Company account to Africa Investor Holdings’ bank account in Mauritius.
The Deputy A-G said that following the payment, no further action was taken by GIIF or its board regarding the share acquisition, and the funds remain unaccounted for.
He added that GIIF’s internal policy required rigorous due diligence and board approval before such investments. However, investigations revealed that none of these procedures were followed, and no board approval was obtained.
Asamoah claimed in his police caution statement that he had board approval, but other board members denied this. Investigators found no board minutes or official records to support Asamoah’s claim.
Prof. Ameyaw-Akumfi, in his statement, said he signed the bank transfer based on Asamoah’s recommendation. Neither he nor Asamoah has been able to account for the missing $2 million.
The United States Embassy in Accra has announced the release of more than 2,000 additional visa interview appointments over the next two weeks for applicants seeking B1 and B2 visas.
According to the Embassy, the newly opened slots are intended to support individuals planning temporary travel to the United States for business, tourism, family visits, and participation in major international events. Among the anticipated events is the 2026 FIFA World Cup, scheduled to take place across North America.
In an official statement, the Embassy encouraged prospective applicants to secure interview dates as soon as possible due to sustained demand for B1 and B2 visas. These visa categories cover short-term travel for business purposes under B1 and tourism or family visits under B2.
Applicants who already have appointments scheduled later in the year are also advised to log into the visa scheduling system to check for earlier availability and, where suitable, reschedule their interviews.
The Embassy indicated that the additional appointment slots are expected to help reduce existing backlogs and provide greater flexibility for travelers with time-sensitive plans.
Further details on application procedures, requirements, and appointment scheduling are available on the Embassy’s official visa information page at: https://gh.usembassy.gov/visas/
Ghana’s telecommunications sector may soon witness increased competition in the 5G space following a move by the National Communications Authority to amend the licence of Next-Gen Infraco.
In a press release dated March 4, 2026, the regulator announced it had issued a Notice of Proposed Licence Amendment to NGIC, seeking to remove the exclusivity clause that grants the company sole rights to operate in Ghana’s 5G segment. The Authority said the action was taken pursuant to Section 14 of the Electronic Communications Act, 2008 (Act 775).
If approved, the amendment would open the 5G market to other operators, allowing them to deploy the technology independently.
According to the NCA, the proposed amendment is in the public interest and intended to promote competition and innovation, enhance consumer choice and service quality, accelerate nationwide digital transformation, and ensure efficient use of spectrum as a national resource.
Under the law, the amendment will take effect 90 days from the date of the notice unless, after reviewing any representations submitted by NGIC within the statutory period, the Authority determines otherwise. The NCA emphasized that the process complies with due procedure and aligns with its mandate to regulate communications services in the national interest.
NGIC’s Commercial Rollout
The proposed regulatory change comes shortly after NGIC announced it had received clearance from the NCA to commence full commercial operations as Ghana’s wholesale 4G and 5G infrastructure provider. The company said the approval followed technical inspections confirming compliance with its Wholesale Electronic Communications Infrastructure Licence.
NGIC has deployed 49 operational 5G sites across the country. Of these, 43 are located in Greater Accra, with the remaining sites spread across the Ashanti, Western, Northern, Bono and Central regions. The network is currently live in selected parts of Accra, Kumasi and Tamale under a wholesale-first model, where NGIC builds and manages shared radio and core infrastructure, while mobile network operators provide retail services to customers.
Chief Executive Officer Tenu Awoonor described the rollout as a transition from planning to execution, stating that the shared backbone is now commercially active and positioned for expansion. He noted that the model is designed to coordinate infrastructure investment nationally while preserving competition at the retail level.
Chief Operating Officer Nenyi George Andah said the company’s immediate focus is on scaling coverage in a coordinated and sustainable manner. He maintained that the wholesale model supports faster national reach and more efficient capital deployment.
Technology partner Nokia also reaffirmed its role in the deployment. Mustapha Salah, Head of Central West and East Africa, Mobile Networks at Nokia, said the partnership would support the rollout of Ghana’s first neutral-host 4G and 5G network, enabling operators to deliver high-speed data services and new enterprise solutions.
Licence Fee Default
In a related disclosure, the NCA indicated that NGIC is in default of an installment payment under its agreed licence fee schedule. The regulator said it is addressing the matter in accordance with applicable statutory provisions.
The combination of a potential policy shift on 5G exclusivity and concerns over fee compliance marks a significant moment for Ghana’s telecoms industry. While NGIC’s wholesale model remains central to national broadband expansion plans, the regulator’s proposed amendment signals a possible recalibration aimed at deepening competition and optimizing spectrum management.
Accra Court Grants Bail to Woman Accused of Abducting Newborn in Mamprobi
Afenyo-Markin Retracts Fraud Allegations Against Interior Minister Over Security Recruitment
Baba Jamal Wins Ayawaso East By-Election With Decisive Margin
-
Entertainment1 week ago[EDITORIAL] Praised in Victory, Crucified in Defeat: The Ghanaian Fanbase Paradox
-
Sports6 days ago2026 FIFA World Cup: President Mahama tasks supporters to return immediately after the tournament
-
Business7 days agoThirdWell launches Inclusive Business Centre to support Accredited Inclusive Businesses in Ghana
-
Entertainment3 days agoTHE INSIDE STORY: Why President Mahama Revoked Gideon Nii Aryeequaye’s Appointment as Executive Secretary of the Creative Arts Agency
-
Entertainment6 days agoSONA: GH¢20m for Film Sector, GH¢20m for Creative Industries — Mahama Announces Major Investment
-
Sports1 week agoBREAKING: Salary Crisis hits Tension at Eleven Wonders Camp for the second time
-
General News1 week agoPolice Arrest Two in Agona Swedru With 209 Slabs of Suspected Narcotics, Reject GH₵100,000 Bribe
-
General News2 weeks agoMahama: We’ll increase efforts to clean polluted water bodies and reclaim mined lands