Ghana, AfDB to build $2.6bn high-speed railway in Accra, sign concession agreement

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6 years ago

R-L: Joe Ghartey, Ghana’s minister for railway infrastructure; Ghana Investment Promotion Centre CEO Yofi Grant; Ghanaian President Nana Akufo-Addo; President of the African Development Bank (AfDB), Akinwumi Adesina after the signing of the agreement.

The Ghanaian government and the African Development Bank (AfDB) have signed a concession agreement for the construction of a $2.6 billion high-speed railway in Accra, the capital city of Ghana.

According to a press release signed by Alexis Adélé of AfDB’s Communication and External Relations Department, the Accra Skytrain project which will transport more than 380,000 passengers annually will create 5,000 jobs during its implementation phase.

The signing of the agreement took place on Monday at a press conference held on the sidelines of the second Africa Investment Forum presently ongoing in Johannesburg, South Africa.

Nigerian Tribune reports that the high-capacity public transport system which uses pneumatic propulsion technology that will be completely automated and cost-efficient for users.

Ghanaian President Nana Akufo-Addo said: “It’s a great day for Ghana! I was here last year and I’m back this year to make sure the project moves forward.

“This proves how important the Africa Investment Forum is. The signing of this agreement is on track to improve the lives of our citizens.”

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President of the AfDB, Akinwumi Adesina, said: “This is what Africa wants: finalized agreements. 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.”

Fund manager for infrastructure investment, Solomon Asamoah, added that he believes the 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,” Asamoah said.

Ghana’s minister for railway infrastructure, Joe Ghartey, noted that the project’s “operational phase has begun,” now that the financing of the project has been completed.