Business News of Friday, 12 December 2003

Source: --

New Intercity STC Buses

Intercity STC has introduced 12 new Marcapolo buses to boost its customer services in the country. Mr. E.A Kwakye, Director of Roads and Transport, outdoored the buses in Accra yesterday.

Speaking on behalf of Minister of Roads and Transport, Dr. Richard Anane, Mr. Kwakye said the management of the erstwhile Vanef STC diverted monies which could have been used to strengthen the company to service the private loan of Vanef Consortium Limited with the Social Security Bank (SSB).

According to Mr. Kwakye, this unfortunate situation resulted in the bad state of the nation's premier transport company.

He said Vanef STC failed to use the income it was generating to renew the aging buses that frequently broke down on the roads.

Explaining further, the director said when the New Patriotic Party (NPP) assumed power in 2001, it noted that the state transport was in bad situation.

He added that Government in attempt to resuscitate it purchased 25 Neoplan Daf buses and 21 Fiat Iveco buses from Italy." This, he said, was in accordance with the government's commitment to promote mass transport service in the country.

The acting Managing Director of the company, Mr. Gabriel Kwaku Owusu, said the company was able to generate profit from the government support, adding that with assistance from the National Invest Bank (NIB) it raised $1.8 million to purchase the buses.

He noted that the delivery of the buses would go a long way in serving its numerous customers across the country.