The prosecution’s second witness in the trial of the former Chief Executive Officer of Ghana Infrastructure Investment Fund (GIIF) and the former board chairman has confirmed that, per the incorporation documents admitted by the trial court, Ai Sky Train Consortium Holdings is the sole shareholder of Ghana Sky Train Limited.
The witness, Kofi Boakye, also confirmed that per the document, no other person was allotted shares in the Ghana Sky Train Limited, a Special Purpose Vehicle (SPV).
Mr. Boakye was answering a follow-up question from Mrs. Victoria Barth, counsel for the former CEO of GIIF, Solomon Asamoah, regarding the company’s incorporation.
He had claimed the board had no knowledge of the incorporation of Ghana Sky Train Limited until he and other members of the GIIF board were questioned by investigators at the National Intelligence Bureau (NIB).
The witness testified that, in some instances, when GIIF approves participation in projects, new companies are incorporated and used as vehicles for implementing those projects.
“At all times, the board is informed and made aware of the incorporation of these companies, and copies are kept or filed by the secretary of GIIF, who collaborates with the various lawyers contracted for these services,” he said he
He further indicated that, in any company in which GIIF holds an equity stake, it ensures that a member of the board is appointed to that company’s board of directors.
“Nothing of this kind happened in respect of the Ghana Sky Train Limited or, for that matter, the Ai Sky Train Consortium Holdings, a company that exhibits 30 and 31 (document of incorporation) registered in Mauritius,” he added.
