President Nana Addo Dankwa Akufo-Addo on Tuesday presented 100 buses to the Intercity STC Coaches Limited to boost its operations and expand its services to other West African routes.
The presentation of the buses was the largest supply of buses to the company since its establishment in 1965.
At the presentation ceremony in Accra, President Akufo-Addo stated that the presentation of the buses demonstrated government’s commitment to revamping its operations and positioning it to play its role as the most preferred transport company in the country.
The company, in 2016, took delivery of 50 buses, however, towards meeting its aspiration of expanding its services to other West African countries, the Akufo-Addo-led government took steps to assist the company acquire additional 100 new buses on its own balance sheet.
Expressing his delight over the success story of company, President Akufo-Addo applauded Nana Akomea, the Chief Executive Officer (CEO) of STC, for ensuring that the state-owned company was standing on its own feet and making meaningful contributions, rather than being dependent on the public exchequer.
He lauded the CEO and the Management of STC for the yeoman’s job and making a difference towards its sustainability.
With COVID-19 adversely affecting the company’s revenue stream, especially as 50 per cent of its operations was ‘ECOWAS-based’, President Akufo-Addo stated that his Government decided to step in to provide a support to the STC
“I’m very happy to hear that, after December, when the support runs out, they will be in a good position to stand on their own two feet and proceed from there. We have to salute their determination,” the President said.
“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,” he added.
President Akufo-Addo was of the conviction that, the enormous benefits that would be accrued to the state transport company would have rippling effects on the national economy, and thus, urged it to provide even better services to its patrons, especially those along the new routes to be developed.
Towards improving the country’s transportation sector, government also procured 100 buses for the Metro Mass Transit Limited.
Funds are also being sought for the supply of 400 buses from Korea and Belgium to augment the existing fleet.
These buses are expected to be in Ghana by the second quarter of 2021.
President Akufo-Addo urged the Management of STC to continue inculcating serious maintenance regime into its operations to enable the citizenry to derive value for money and prevent any revenue leakages.