Ghana has signed a Memorandum of understanding with South African firm Africa Investment (AI) Sky Train Consortium for the construction of the Accra Sky Project from.
The project is expected to takeoff in January 2020 after parliamentary approval. The agreement was signed on the sidelines of the Africa Investment Forum in South Africa.
The move according Ghana’s Railway Minister Joe Ghartey has become necessary due to the ever-increasing road traffic congestion, its detrimental effects on economic activity, pollution and the quality of life in Ghana’s capital Accra.
“Today, we have signed an MoU which will last nine (9) 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,” the Railways Minister said.
Mr Ghartey said “We are exceptionally excited also by the fact that a lot of the construction works will be done in Ghana. It will create a lot of jobs in Ghana, because the fabrication and construction will all be done in Ghana.”
South Africa’s Deputy Minister for Transport, Sindisiwe Lydia Chikunga, who was present at the signing ceremony said “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.”
Officials from Ghana are hopeful the project will be a game changer in the Capital Accra which used to have a population of some 250,000 at independence, now has 6 million people.
The African Investment SkyTrain Consortium is made up Wilson Bayly Holmes (WBHO), 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 Africa investor (Ai) Group, one of the most influential international investment banking advisory groups focused on Africa.