Both companies were, however, tight-lipped on the value of the 10 Toyota Hiace, five Toyota Coaster and two 55-seater Benz buses.
At a ceremony to hand over the buses to the management of Intercity STC in Accra, the Managing Director of SIC Life TFL, Mr Richard Appietu, said the company decided to invest in Intercity STC because of the opportunity for it to own the transportation landscape and return the sector to the days of reliability and profitability.
Mr Appietu said Intercity STC’s longstanding reputation as a company with arguably more destinations and a long-tested network made it a viable company.
Apart from the regional capitals, Intercity STC also runs services to and from other local destinations and three West African countries, namely Cote d’Ivoire, Burkina Faso and Benin.
The company reaches 23 local destinations.
The Board Chairman of SIC Life TFL said as part of the partnership, the company was not only financing the buses but SIC Life Insurance would be insuring members of staff who worked on the buses, as well as “many Ghanaians who continue to trust the safety and reliability of the reinvigorated STC service”.
The Managing Director of Intercity STC, Mr Samuel Nuamah Donkor, for his part, said at a time when people thought STC was bad news, SIC Life TFL saw potential in the company and offered it support.
He said the company was a gold