The decision marks a critical step in the accountability process for the aborted Accra SkyTrain project, an ambitious elevated light rail transit system originally promoted in 2018 and 2019 as a solution to the capital’s severe traffic congestion. The central legal question before the appellate panel was whether the accused had demonstrated “exceptional circumstances” sufficient to justify suspending the trial. The court concluded that Professor Ameyaw-Akumfi failed to meet this threshold, ordering that the High Court proceedings resume their normal procedural course. This ruling follows a parallel defeat for the first accused, former GIIF Chief Executive Officer Solomon Asamoah, whose application for an interlocutory injunction was dismissed by Supreme Court Justice Senyo Dzamefe on August 31, 2026. Justice Dzamefe ruled that Asamoah’s affidavit did not establish irreparable harm and that the High Court judge had not exceeded his jurisdiction.
The criminal charges stem from the state’s allegation that Asamoah and Ameyaw-Akumfi authorized and facilitated the payment of USD 2 million—approximately GHS 32 million or KES 258 million—to a South African consortium without securing the requisite approval from the GIIF board of directors. Prosecutors contend that this unilateral financial authorization constituted a willful act of causing financial loss to the state. The funds were allegedly released to Africa Investor Holdings (Proprietary) Limited and its subsidiary, Ai SkyTrain Consortium Holdings, a Special Purpose Vehicle (SPV) created for the project. The project, which collapsed leaving the state with zero infrastructural deliverables for the capital expended, has been the subject of intense political and financial scrutiny since its inception.
The legal strategy employed by the accused has heavily relied on challenging the prosecution’s evidence before presenting their own defense. However, the appellate rulings suggest that such procedural challenges, when framed as requests to halt the trial entirely, are unlikely to succeed without demonstrating specific legal exceptions. The dismissal of Ameyaw-Akumfi’s motion reinforces the principle that the trial must proceed, allowing the court to examine the merits of the evidence rather than being sidetracked by parallel appeals.
The background of the case reveals significant discrepancies in the project’s execution and governance. According to reports from February 2025, Professor Ameyaw-Akumfi was detained by the National Intelligence Bureau (NIB) on February 23, 2025, over his alleged involvement in the scandal. Sources indicated that he was taken into custody for allegedly authorizing the release of funds to Africa Investor Holdings before feasibility studies were conducted. The 2021 Auditor-General’s report classified the investment as a net liability, indicating that the funds were effectively lost, with no refunds made to the state. Furthermore, it was reported that the Ai SkyTrain Consortium Holdings lacked the necessary operational licenses to execute the initiative.
Investigations into the recipient entities have raised further questions about the transaction’s legitimacy. State prosecutors identified Africa Investor Holdings as a company incorporated under the laws of the Seychelles. However, a search of the official Seychelles company registry yielded no results for the entity. The only official website with details of the company was the UK government’s Companies House, which listed Africa Investor Holdings Limited as a limited company incorporated in Seychelles. Notably, the UK registrar does not verify the information provided on its website. The beneficial owners listed included individuals of Nigerian origin, a detail that has drawn public attention given the project’s purported South African origins. The second entity, Ai SkyTrain Consortium Holdings, was apparently owned by Africa Investor Holdings, which was contracted under a “design, finance, build and operate” agreement.
The political dimension of the scandal dates back to July 2023, when the Minority in Parliament demanded explanations regarding the $2 million payment. Member of Parliament Governs Kwame Agbodza questioned the legitimacy of the transaction, stating, “The Government of Ghana facilitated an investor from South Africa to establish a Special Purpose Vehicle in Mauritius. Before even conducting feasibility studies, $2 million was transferred to this entity. Who approved this payment?” These questions underscore the broader concern over financial mismanagement and lack of due diligence in state-backed infrastructure projects.
As the trial proceeds, the focus will shift to the substantive defense provided by Asamoah and Ameyaw-Akumfi. The court’s recent rulings have removed the possibility of a stay, ensuring that the High Court can examine the evidence regarding board approvals, the validity of the SPV, and the accountability of the officials involved. The case remains a significant test of institutional oversight in Ghana, highlighting the judicial commitment to allowing accountability processes to run their full course without procedural obstruction.
