Ghana’s Supreme Court dismisses ex-fund chief Asamoah’s application — The Rio Times

Ghana’s Supreme Court on October 14, 2026, dismissed an application by former Ghana Infrastructure Investment Fund Chief Executive Officer Solomon Asamoah, who sought to overturn an interlocutory ruling in a case concerning a $2 million payment linked to the unrealized Accra Sky Train elevated railway project. This was reported by The Rio Times.

Supreme Court ruling

Asamoah sought to set aside the High Court’s ruling and prevent the case from being further heard by Justice Audrey Kokuvi-Tey. His lawyer, Prince Asafu-Agyei, argued that the judge had exceeded her authority by calling his client “the direct cause of the loss” and had also changed the bail conditions without hearing the defense.

A five-member panel chaired by Gabriel Pwamang dismissed the applications to set aside the court ruling and restrain the judge from taking further action. Earlier, on August 31, a single Supreme Court judge also refused to stay the proceedings.

Charges in the Sky Train case

Ghana’s prosecution alleges that in 2019, $2 million was transferred from the Ghana Infrastructure Investment Fund to South African company Africa Investor Holdings Limited without approval from the board of directors. The funds were intended to purchase 10 shares in a Mauritian project company linked to the plan to build an elevated railway in Accra.

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According to the prosecution, the deal was supposed to secure the fund a 10% local equity stake, but this did not happen. In May 2025, Asamoah and former fund board chairman Christopher Ameyaw-Akumfi were charged with six counts, including willfully causing financial loss. Asamoah pleaded not guilty to all charges.

On July 2, the High Court ruled that the accused must answer to the evidence presented. This decision does not mean that guilt has been established. The Accra Sky Train project, which envisioned five routes with a total length of 194 km, was never implemented. A case management conference at the High Court is scheduled for October 19, after which the defense is expected to present its evidence.

Asamoah’s career

Solomon Asamoah has worked in infrastructure finance for more than 20 years. He previously served as Vice President for Infrastructure, Private Sector and Regional Integration at the African Development Bank, and was also Deputy Chief Executive Officer and Chief Investment Officer at Africa Finance Corporation.