The Minority in Parliament has called for the reimbursement of a $2 million payment made in 2019 as a premium for the acquisition of ordinary shares in the Accra Sky Train Project's development.

In the 2021 report by the Auditor-General, the transaction was labeled as a net liability.

The Auditor General's report highlighted that the Ghana Infrastructure Investment Fund acquired 10 ordinary shares in the Special Purpose Vehicle (SPV), Ai Sky Train Consortium Holdings, at the aforementioned amount.

Minority Chief Whip and Ranking Member on the Roads and Transport Committee, Governs Kwame Agbodza, while addressing the media in Parliament today, demanded the repayment of the funds into the government's coffers.

“When you have a situation where the minister then says in 2023, now that he always believed that before the project takes off, that should be a cabinet approval, there should be a parliamentary approval, PPA approval, since none of these things were approved – In fact, the Auditor General’s report suggested that the company did not even have the necessary license to operate the system they wanted to operate?

“So who authorised the payment of the $2 million in terms of the so called feasibility, and which normal decision maker pays out $2 million for a feasibility study before, as they put it, they determine whether the project is bankable? These things only happen when it’s an organized crime. When people are careless, clueless and reckless about public expenditure because they don’t care. It only happens when there’s organized crime. So I think the minimum the Auditor General should be asking for is the refund of the $2 million," he said.

The Accra Sky Train Project announced by President Akufo-Addo had its initial plan formulated in 2017. However, an assessment of risk management issues within the Ghana Infrastructure Investment Fund (GIIF) reveals that the policy is still in the draft stage.

In 2018, Africa Investor Holdings Limited established a Special Purpose Vehicle (SPV) called Ghana Sky Train Limited in Mauritius. The purpose of this SPV was to develop the Accra Sky Train Project through a Design, Build, Finance, and Operate arrangement.

However, the Minister for Railways Development, John Peter Amewu, has indicated that the current government will not be able to deliver sky trains to Ghanaians as previously envisioned.

He explained that due to the substantial capital investment required, the project cannot be implemented in the near future. The government is constrained by fiscal limitations and lacks the necessary financial resources to support such a facility.

As a result, the implementation of the Accra Sky Train Project has been delayed and its realization remains uncertain.

“It is not possible to be done now. I don’t see any sky train being done in the next 3 to 4 years. There is not going to be any sky train in the country. It is not possible,” he is quoted by JoyNews to have said in an interview in November 2021.