File photo of a Sky Train
The former Board Chairperson of the Ghana Infrastructure Investment Fund (GIIF), Prof Christopher Ameyaw-Akumfi and the former Chief Executive Officer of GIIF, Solomon Asamoah, are being prosecuted for their involvement in the Accra Sky Train Project, which the erstwhile Nana Addo Dankwa Akufo-Addo government sought to implement.
The two officials are being prosecuted for allegedly expending $2 million of state funds on the “botched” project.
State prosecutors have cited two African entities – Africa Investor Holdings (Proprietary) Limited and Ai SkyTrain Consortium Holdings – as the entities that received the $2 million Prof Ameyaw-Akumfi and Solomon Asamoah are being prosecuted for.
The public, however, is yet to hear from these two companies and scanty details have been shared about them by the state.
Do these companies exist or are they mere fictions to loot from the state? Here is what GhanaWeb found about the two companies.
Africa Investor Holdings Limited:
Africa Investor Holdings (Proprietary) Limited, according to the facts of the case, was the partner of the GIIF in the Accra Sky Train project in a “design, finance, build and operate” contract.
State prosecutors indicated that Africa Investor Holdings was a company incorporated under the laws of the Seychelles.
A search by GhanaWeb on the official company registry of the Seychelles government (registry.gov.sc and egov.sc) for Africa Investor Holdings (Proprietary) Limited and Africa Investor Holdings Limited showed no result.
The only official website that had details of the company was the UK government registrar of companies, Companies House.
The details on the Companies House website showed that Africa Investor Holdings Limited was a “limited company” incorporated in “Seychelles” with the address “Second Floor The Quadrant, Manglier Street, P O Box 1312, Victoria, Mahe, Seychelles”.
A Nigerian by the name Olatunji Okulaja was listed as a partner. The beneficial owners of the company included two Nigerians, Adetokunbo Fayemiwo and Adetokunbo Fayemiwo.
It is imperative to note that Companies House does not verify information on companies on the website.
Ai SkyTrain Consortium Holdings
The second company mentioned in the prosecution’s facts was Ai SkyTrain Consortium Holdings, which was apparently owned by Africa Investor Holdings Limited.
In the agreement, Africa Investor Holdings Limited was to transfer 10 per cent of its alleged 100% shares in Ai SkyTrain Consortium Holdings, a limited liability company registered in Mauritius, to GIIF.
The GIIF, in turn, was to pay a lump sum of $2 million as the price for the alleged shares, which was apparently authorised by Solomon Asamoah and approved by Prof Ameyaw-Akumfi.
The report on techlabari.com indicated that “Ai Sky Train Consortium Holdings is yet to obtain the licence for ‘Aeromovel Technology’, required for the Sky Train Project. Feasibility studies are reported to be still ongoing.”
A search of the official company registry for Mauritius, the Corporate and Business Registration Department (CBRD), showed that the company no longer existed.
The company, which had its official address as “24 Cybercity, 5th Floor, Ebene Esplanade, Ebene, Mauritius”, was incorporated on December 11, 2018 and was defunct as of April 4, 2025.
In conclusion, it appears the government of Ghana paid $2 million to companies that no longer exist. These companies did not even have official websites.
The details above only leave us with the question: Was “a whole” government of Ghana scammed?
View more documents on the two companies below:
BAI/VPO
You can also watch the latest news on GhanaWeb TV below:
