The Metro Mass Transit Limited (MMT) has acquired 150 new buses to augment its existing fleet and salvage the ailing public mass transport system in the country.
The TATA buses were procured at a cost of US$11million by the company using its internally generated funds.
Inaugurating the first 50 buses acquired by the company, Alhaji Collins Dauda, the Minister of Transport, commended management for turning the fortunes of the company, which had a debt stock of US$4billion as at 2009, into a viable profit-making entity.
He charged MMT to assiduously work to be independent of government funding. “The company’s fleet size is expected to reach 1,000 by December 2012. This will facilitate the movement of people during the up-coming elections,” he said.
Mr. Max Awuku, Acting Managing Director, MMT, said “the Board and Management are currently ensuring massive infrastructural development unprecedented in the history of the company. It includes the construction of new depots and terminals in Tamale, Bolgatanga, Ho, Cape Coast, Wa, Swedru, Tarkwa, Takoradi, and Kumasi depots.”
He said ten new field pick-ups have also been procured to enhance operations. MMT’s acquisition comes at a time when the other public transport operator, Intercity State Transport Corporation (STC), is on the brink of collapse. STC is saddled with debt to the tune of US$15m and shrinking fleet size.
Metro Mass Transit Limited (MMT) was officially incorporated in 2003. The shareholders include State Insurance Company, National Investment Bank, Ghana Oil Company Limited, Agricultural Development Bank, Prudential Bank and SSNIT.
These together have 55% shareholding. The Government of Ghana holds the remaining 45% shares. It has 360 operational routes in the ten regions of the country and employs over 4,000 people. MMT is expected to take delivery of the remaining 100 buses by the end of March 2012.
Public mass transport in metropolitan and municipal areas ensures safe, affordable, efficient and reliable movement of people.
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