President Nana Addo Dankwa Akufo-Addo has presented 100 brand new buses to the Intercity STC Coaches Ltd to enable the company to expand its services to many parts of the country and other West African countries.
The government supported the state transport company to procure the buses on its own balance sheet with a US$13-million loan facility from ADB Bank for a three-year repayment period.
The President made the presentation at the company’s headquarters in Accra during his tour of the Greater Accra Region.
He expressed the government’s commitment to support the company and position it to be the leading and most preferred transport company in the country and the sub-region.
The President applauded the CEO of STC, Nana Akomea, for making the STC 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. We should give a very big round of applause to the CEO and the management of the STC.”
“Again, I am very happy to hear that after December, when the support runs out, they will be in a position to stand on their own two feet and proceed from there. We have to salute his determination.
“We know how important transport is to the economy of our country, and the work of the STC to the economic development of our country is extremely significant,” he said.
President Akufo-Addo urged the management of the company to further improve its services to customers.
He also entreated the management to continue to inculcate serious maintenance regimes into their operations to enable the citizenry derive value for money, and ensure that there were no revenue leakages.
Nana Akomea commended the government for supporting the company to procure the buses and improve its services to customers.
He said the outbreak of the COVID-19 and the closure of the country’s borders had impacted negatively on the company’s revenue, especially as 50 per cent of its operations was within the sub-region.
He, however, said he was optimistic that the company, with the support of the government, would weather the situation and continue to generate more revenue.
BY YAW KYEI