Solomon Asamoah and Prof. Christopher Ameyaw-Akumfi
A High Court in Accra has set November 10, 2025, to begin the trial of former Chief Executive Officer of Ghana Infrastructure Investment Fund (GIIF), Solomon Asamoah and the erstwhile Board Chairman of the Fund, Prof. Christopher Ameyaw-Akumfi, who have been charged for their alleged involvement in the dissipation of state funds in the non-existent $2 million Accra Skytrain project.
This follows the decision of the court presided over by Justice Audrey Kocuvie-Tay, to adjourn the case to accommodate Yaw Acheampong Boafo, the new lawyer for Prof. Ameyaw-Akumfi, to apprise himself of the documents he inherited in the case.
Godfred Gyimah Okyere, who held brief for Mr. Boafo, told the court yesterday that the substantive counsel for the accused person was unable to appear in court because he was in a Judicial Council meeting, saying it was not out of disrespect for the court.
“Additionally, we just received the documents for the trial and we are still reviewing them. In the circumstance, we are on bended knees for you to grant us an adjournment,” he added.
Justice Kocuvie-Tay subsequently adjourned the case to November 10, 2025.
Previous Warning
At the last sitting on October 27, the trial judge had warned that she was going to proceed with the trial irrespective of whether Prof. Ameyaw-Akumfi showed up in court represented or not.
This was after the accused had told the court that he had just procured the services of a new lawyer following a disagreement with his previous counsel.
The prosecution led by Sefakor Batse, a Chief State Attorney, had told the court that they were ready with their first witness, and expressed frustration about the turn of events.
The judge herself was not happy, indicating that “this is not good enough,” and that “it doesn’t show respect to the court.”
Trial
Solomon Asamoah and Prof. Ameyaw-Akumfi have been charged for their alleged involvement in the dissipation of state funds in the non-existent Accra Skytrain project.
The two have each been charged with three offences, including one count of conspiracy to commit crime, causing financial loss to the state and intentional dissipation of public fund.
Court documents indicate that the two individuals approved the transfer of $2 million from the account of GIIF into the bank account of Africa Investor Holdings Limited, a company incorporated in South Africa, without board approval.
The documents further indicate that the two caused the transfer of the money into the accounts of the company in the name of acquiring shares in Africa Investor Holdings Limited on February 25, 2019, and nothing has since been heard, said or done by the GIIF or its governing board concerning the alleged share acquisition.
The brief facts indicate that the Accra Skytrain project was to be constructed on a Design, Build Finance, and Operate basis.
“In the memorandum of understanding, GIIF was to be the anchor equity investor and local project development partner to the Africa Investor Holdings (Proprietary) Limited. It was further agreed in the memorandum of understanding that GIIF would conduct due diligence and develop a bankable feasibility study on the project.”
A shareholder agreement was subsequently signed on January 9, 2019 between GIIF and Africa Investor Holdings Limited where the latter was to transfer 10% of its alleged 100% shares in a company styled as ‘Ai Skytrain Consortium Holdings,’ a limited liability company registered in Mauritius.
Upon their arrest, Solomon Asamoah is said to have indicated in his cautioned statement that he obtained approval of GIIF board in respect of the payment, while Prof. Ameyaw-Akumfi told investigators he signed the funds transfer on the recommendation of Mr. Asamoah.
The facts added that neither of the accused persons have been able to account for the $2 million.
BY Gibril Abdul Razak