GIIF witness denies board approval for Sky Train project, contradict s defence claims

A former Board Secretary of the Ghana Infrastructure Investment Fund (GIIF) has testified that the much-publicised SkyTrain project never received formal approval from the fund’s board, directly contradicting claims by two former officials standing trial for alleged financial loss.

Kofi Boakye, the second prosecution witness in the trial of former GIIF CEO Solomon Asamoah and former Board Chairman Prof. Christopher Ameyaw-Akumfi, told an Accra High Court on Tuesday that while the fund’s investment committee expressed support for the project, it never recommended it for approval.

Asamoah and Prof. Ameyaw-Akumfi are accused of conspiring to cause financial loss of $2 million intended for the construction of an elevated SkyTrain system, which was never built.

The prosecution maintains the project did not receive approval from GIIF’s board, the principal decision-making body of the fund. The defence has, however, insisted through cross-examinations that board approval was indeed granted.

Testifying in his evidence-in-chief, Boakye acknowledged that the SkyTrain project was discussed at several board meetings but stressed that no formal approval was ever given.

During cross-examination by Asamoah’s counsel, Victoria Barth, an email was presented in which the former CEO informed investment committee members about meetings scheduled for September and October 2018. The agenda for those meetings listed the SkyTrain project development contribution under “Projects for approval.”

Boakye confirmed the agenda’s existence but maintained the committee’s position.

“Although several meetings had been held and documents made available at both the investment committee and the board, no approval of this project had been made by the investment committee and no recommendation had been made to the board,” he stated.

He further explained that while records showed funds had been ring-fenced for the project in the budget between July and December 2018, “finding provision in the budget for a SkyTrain project did not automatically mean that the project had been approved.”

Referring to minutes from July 31, 2018, Boakye clarified: “Members of the investment committee expressed support for the project, but that was never an approval by the investment committee.”

The witness also testified that following the investment committee’s last meeting on July 31, 2018, up to the board meeting of October 24, 2018, the committee never reconvened to consider or approve recommending the project to the full board.

“To end, the SkyTrain project was not approved throughout the period that I served on the board either at investment committee or at the board,” Boakye concluded.

The case has been adjourned to Thursday, February 19, 2026.