President Nana Addo Dankwa Akufo-Addo has given 45 brand-new VDLs for distribution to the several districts as part of measures to overhaul the Metro Mass Transit’s operations.
In its 2022 Budget Statement and Economic Policy, the government stated that it intended to prioritize the upgrading of Metro Mass with the procurement of new buses to increase the fleet of the firm. This is in fulfillment of the government’s vow to overhaul the company.
The move was included in the Ministry of Transport’s budget projections, which covers the industry in which Metro Mass works as an Agency.
President Akufo-Addo said that his administration will work to ensure that Metro Mass returns on the road of profitability during a ceremony to commission 45 of the 100 buses that have been purchased on the State House’s forecourt.
The Belgian government, which is credited with making the initial investment in establishing the Metro Mass some 17 years ago, during the John Kufuor Presidency, has agreed to a five-year support plan that will ensure the annual supply of buses to Metro Mass over that time. This is part of plans to ensure its viability, the President said.
In his remarks, Transport Minister Kwaku Ofori Asiamah tasked Metro Mass Transit Limited’s management and workers with putting in place an efficient maintenance services strategy to keep the company’s fleet operating continuously.
As a limited liability company, Metro Mass Transit Ltd was established in March 2003 in accordance with Ghana Companies Code (1963) Act 179.
The two primary policy objectives of both the National Transport Plan (2008) and the Transport Sector Medium-Term Development Plan are to provide transportation for all inhabitants and to establish Ghana as a transportation hub for the sub-region (2014 and 2018).
The company’s largest stakeholder, owning 45% of the company’s shares, is the Government of Ghana.
The remaining shares are held by the Agricultural Development Bank (16.67%), Social Security & National Insurance Trust (SSNIT) (11.67%), National Investment Bank (9.33%), Ghana Oil Company (7.5%), State Insurance Company (5.83%), Prudential Bank (1.67%), and In Treasury (2.5%).