Defence lawyers argue the alleged $2 million (GHS 24 million) loss in the proposed Sky Train project was a result of the COVID-19 pandemic. They presented this argument in the High Court, asserting the loss was not due to criminal wrongdoing. Former Ghana Infrastructure Investment Fund (GIIF) CEO Solomon Asamoah and former Board Chairman Prof. Christopher Ameyaw-Akumfi face charges of causing financial loss to the state.
These charges relate to the alleged disbursement of $2 million for the Sky Train project. The funds were reportedly released without proper approval from the GIIF Board. The defence has filed a submission of no case, asking the court to dismiss the charges.
This case highlights Ghana’s broader challenges in managing public funds for large infrastructure projects. Questions about due diligence and accountability often arise in such undertakings. The alleged loss of $2 million underscores financial risks associated with complex ventures, especially during global disruptions. Previous government initiatives, like the Ghana Integrated Financial Management Information System (GIFMIS), aim to improve financial oversight. However, cases like this suggest continued scrutiny of project financing and execution is necessary.
Lawyers for Mr. Asamoah and Prof. Ameyaw-Akumfi told the High Court the $2 million loss was directly caused by the COVID-19 pandemic. They stated this in a submission filed after the Attorney General concluded its case against the two accused persons. The prosecution called three witnesses, including former GIIF Board member Yaw Odame-Darkwa, who testified that the GIIF Board did not approve the project.
The High Court will now determine whether the prosecution has presented sufficient evidence to warrant a defence from the accused. This decision will influence the future trajectory of the trial. A dismissal would end the proceedings, while a continuation would require Mr. Asamoah and Prof. Ameyaw-Akumfi to present their defence. Market observers and taxpayers will watch the verdict closely, as it could set precedents for accountability in public project management.
The outcome will impact how future public-private partnerships are structured and monitored. It will also influence investment confidence in large-scale infrastructure projects in Ghana. The legal precedent could guide GIIF and other state entities in their project approval processes. The case is being heard by Justice Audrey Kocuvie-Tay.