President Akufo-Addo has applauded the management and staff of the State Transport Company (STC), now Intercity STC Coaches Limited, for its agenda to wean itself off government subvention in the shortest possible time.
Addressing the management and staff of the Intercity STC Coaches Limited (ISTC) as part of the third day of his four-day tour of the Greater Accra Region, before commissioning some one hundred (100) new buses procured to beef up the STC fleet in the country,
President Akufo-Addo said he is extremely excited about the prospects of STC. This was in response to the statement of the Managing Director of the STC, Nana Akomea that the organization is on course to stand on its own feet.
“The reason for my happiness is because of the story that the Chief Executive Officer told of a state-owned company that is determined to stand on its own feet, pay its way in the world and contribute rather than be dependent on the public exchequer,” President Akufo-Addo said.
*Patriotism of STC Boss*
The President noted that his plan for the Managing Director of Intercity STC Coaches Limited, Nana Akomea, when he assumed office as President, was to appoint him as an Ambassador. He however noted that Nana Akomea rather proposed that he would like to work at the STC in order to transform the organization which was until 2017, was struggling to find its feet in the transportation sector.
“He is a very senior member of our NPP family, former Minister and I wanted him to take his experience and abilities abroad to help our country. He told me that he had a different proposal for me if I would accept it and the proposal was that, he will forgo going abroad and stay here and take over the running of STC. I am happy to say today that he is doing a great job,” the President stated.
*STC Managing Director*
Managing Director of the Intercity STC Coaches Limited, Nana Akomoa noted that the COVID-19 pandemic has adversely affected the revenue of the STC enormously but pledged that with government support for the payment of salaries of staff of the STC till December 2020, the company will operate the new buses efficiently and have no need, from January 2021, to require any form of governmental support.
“So it is appropriate that today, the President himself will be here to commission the buses for us so that we will start working. We are going to spread throughout the country. All the defunct STC terminals all over the country are coming back,” the Managing Director of Intercity STC Coaches Limited, Nana Akomea said.
*ADB Participation and Support*
Dr. John Kofi Mensah, Managing Director of the Agricultural Development Bank (ADB), in his brief statement observed that with the great work done by the Intercity STC the Board, Management and Staff since 2017 to bring Intercity STC Coaches Limited back to life, ADB did not hesitate when approached for assistance by the Management to help augment their fleet of buses.
“An amount of Thirteen Million United States Dollars (US$13,000,000.00) was spent in acquiring these brand new buses with a three-year repayment arrangement. I wish to commend the Office of the President, the Ministry of Transport and the Ministry of Finance for the waive of port charges of about Twenty-Five Million Ghana Cedis on the buses which would have been transferred onto patrons of the STC bus service,” Dr. John Kofi Mensah said.
“We are aware the Management of Intercity STC Coaches Limited have opened more terminals nationwide and this gives us optimism that they will repay back the loan facility even before the three-year period so they can access more funds for more buses in the competitive sector they find themselves,” He added.