After installment of US$ 2 million to Africa Investor Holdings Limited by the Ghana Infrastructure Investment Fund (GIIF) towards the development of the Accra Sky Train Project, as per the most recent Auditor-General’s report, the task may not happen as expected as the worker for hire is yet to get a functional permit to start work.
Africa Investor Holdings Limited consolidated a Special Purpose Vehicle (SPV) in 2018 in the Republic of Mauritius for motivations behind laying out Ghana Sky Train Limited to foster the Accra Sky Train Project through a concession on Design, Build, Finance and Operate game plan.
Notwithstanding getting the cash very nearly a long time back in February 2019, the SPV – known as the Ai Sky Train Consortium Holdings – as per the Auditor-General is yet to get a permit for ‘Aeromovel Technology’ expected for the Sky Train Project.
The failure to get the permit, the A-G said, could hamper the task’s practicality concentrates on which illuminate the venture’s financial matters for endorsement.
The US$2million to Africa Investor Holdings as full thought is for 10 standard offers in the SPV. The report anyway uncovered that the premium paid for each offer, which was US$199,999 in the SPV, has revealed a net obligation for the year December 31, 2020.