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The government of Ghana has signed a concession agreement for the construction of a high-speed railway in Accra, Ghana’s capital
The signing took place at the Africa Investment Forum in Johannesburg.
The Accra Skytrain project, representing an investment of US$2.6bn, is said to be a high-capacity public transport system that is completely automated and cost-efficient, using pneumatic propulsion technology. The system will transport more than 380,000 passengers annually and create some 5,000 jobs during its implementation phase.
“This is what Africa wants: finalised agreements,” said Akinwumi Adesina, president of the African Development Bank Group. “What we want is for Africa to invest in Africa! We want to see this kind of thing happening all the time. This project will modernise Ghana, providing green transport for its citizens.”
Solomon Assamoah, fund manager for infrastructure investment, believes that this project will profoundly transform Ghana’s economic capital. “This is a major contribution to infrastructure development in Ghana, and in Africa as a whole. We need mass transport. This project will help overcome traffic gridlock,” he explained.
Joe Ghartey, Ghana’s minister for railway infrastructure, stressed the work ahead: “We have worked hard together to get to this stage of the project. We have more work to do to be able to tell the whole world, between now and next year, that the project’s financing is complete and that its operational phase has begun.”
Ghana Investment Promotion Centre CEO Yofi Grant expressed confidence that the project would reach financial close by this time next year.