Client: STC
Project: Modernization of Ghana’s transport leader
Duration: 12 months
Location: Accra, Ghana
Competencies: Strategy & institutional advisory.
Propelling Intercity STC into the future: Sustainable modernization of Ghana’s transport leader
Faced with the need to modernize its infrastructure and align with national climate goals, Intercity STC Coaches Limited (STC) mandated Aether Strategies to orchestrate its strategic transformation. By structuring a $150M expansion program, we transformed a legacy carrier into a model of sustainable and digitized mobility, ready to attract major institutional investors.
January 2026, Accra, Ghana.
Challenge
Solution
Result
Challenge
Intercity STC, a historic player in Ghana’s transport sector, urgently needed to reposition itself as a modern, sustainable, and digitally proficient leader.
The stakes were high: transitioning from a traditional diesel fleet to electric and hybrid solutions while transforming aging terminals into viable commercial centers.
To realize this vision, STC required a robust corporate strategy (2025–2028) and bankable feasibility documents capable of mobilizing capital from financial institutions.
Solution
Aether Strategies deployed an integrated approach, acting as a strategic and financial advisory partner. Our methodology focused on three major pillars:
Strategic & institutional advisory: Led the full development of the 2025–2028 Corporate Strategic Plan, aligning it with Ghana’s Energy Transition Framework and AfCFTA priorities.
Financial engineering & feasibility: Produced a comprehensive feasibility study (2025–2035) including route profitability analysis, financial sensitivity tests (IRR, DSCR), and a rigorous environmental impact assessment.
Partnership & financing facilitation: Developed a Project Information Memorandum (PIM) for a $65M loan request to the identified bank and a Technical Assistance Request for the AfDB’s FAPA program.
Result
The partnership laid the foundation for STC’s long-term growth:
Capital mobilized: Structured a $150M investment case for fleet modernization and terminal development.
Green leadership: Integrated an e-mobility transition strategy, positioning STC as a pioneer in decarbonized transport in Ghana.
Strengthened governance: Established an oversight and risk management framework to ensure operational sustainability.
Policy alignment: Secured support from key ministries (Transport, Trade, Energy) through strategic policy briefs and MoUs.