The government of Ghana has officially signed an agreement with a South African group, Africa Investment (Ai) SkyTrain Consortium, for the construction of the Accra Sky Train Project.
Railways Development minister, Mr Joe Ghartey, signed the agreement for Ghana on the sidelines of the Africa Investment Forum in Johannesburg, South Africa.
According to him, the Sky Train Project was the solution to the ever-increasing road traffic congestion in Accra, with its detrimental effects on economic activity, pollution and the quality of life.
“There is confidence in the project. The promoters (Ai SkyTrain Consortium) are very serious, and that is why we invited the President, himself, to witness the signing. This should assure the investors that Government is solidly behind it. The economics of this project are also good. We are very excited about the prospects,” he said.
“Today, we have signed an MoU, which will last nine months, where they (Ai SkyTrain Consortium) can do their feasibility into detail.
After which we have given ourselves 45 days to take our concessionary agreements for approval by Cabinet and also by Parliament. By January 2020, we should start the construction of the project,” Mr Ghartey added.
South Africa’s Deputy Minister for Transport, Sindisiwe Lydia Chikunga, who was present at the signing ceremony, stated that: “we are very excited, and we hope that, in due time, we will witness the construction in 2020. We wish you all the best in the feasibility period.”
President Akufo-Addo who was present during the signing said it has become a priority of the Government “to rehabilitate, revive and expand, Ghana’s railway.
He said the project “is a good example of intra-Africa co-operation. It is Ghana-South Africa co-operation, meeting and coming together to deal with the problem of urbanisation, which is facing all our countries.”
President Akufo-Addo said Accra, with a population of some 250,000 at independence, now had six million people, and the Accra SkyTrain Project, he added, “is a very, very efficient solution to it. I am happy that is the result of the cooperation between our two countries.”
The African Investment SkyTrain Consortium is made up Wilson Bayly Holmes, a construction engineering company in South Africa; BUNENGI Group, a project development company focused on developing projects in infrastructure; and Ai Capital, the investment and financing arm of the Ai Group, one of the most in influential international investment banking advisory groups focused on Africa.