Metro Mass Transit Limited is facing mounting scrutiny amid allegations of severe mismanagement, including the sale of hundreds of company buses at unusually low prices, even as the company reports record financial performance.
According to available reports, 313 buses were sold for a total of approximately 2.9 million Ghana Cedis, with individual units going for as little as 2,500 Ghana Cedis. Some sources cite prices of 3,000, 4,000, and 5,000 Cedis. This is not an isolated incident, as “close to another 400” buses were reportedly sold in 2017. The sales have coincided with a drastic reduction in the operational fleet: from a previous high of nearly 300 active buses, the number of buses currently operating on routes is said to have fallen to 115, while the total fleet has shrunk from 313 to just 33.
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Paradoxically, the company’s revenues are reportedly at an all-time high, despite the sharp decline in operational capacity. Recent figures indicate monthly revenues of 15.1 million Ghana Cedis, with August generating 14.1 million, and an average monthly revenue of 13.5 million against costs of 10 million Ghana Cedis. In contrast, last year, with over 300 operational buses, the company generated roughly 9 million to 9.6 million Ghana Cedis monthly.
Metro Mass Transit was reportedly established by an Act of Parliament in 2003, though some references suggest 2001. Designed as a nationwide mass transit system, the company operates 16 branches across Ghana. Its ownership details are inconsistent: some sources state the Government of Ghana holds 5%, others 45%, and yet another claims 98%, with 45% held by “Bankually.”
Internal management issues have also emerged. Allegations point to longstanding non-payment of staff contributions, reportedly dating back to 2018, leading to criminal proceedings against the Managing Director in October. Despite these financial compliance challenges, recent salary adjustments have been implemented, with senior staff receiving 20% increases and drivers 25% raises.
The juxtaposition of declining fleet numbers with record revenues, combined with asset disposal at low prices and internal management controversies, has raised significant questions about the governance, transparency, and operational efficiency of Metro Mass Transit Limited.
