Prime News Ghana

SSNIT explains decision to sell 60% stake in 4 hotels to Agric Minister's firm

By Primenewsghana
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The Social Security and National Insurance Trust (SSNIT) has denied foul play in its decision to sell 60 percent of stake in its hotels to Rock City Hotel owned by the Food and Agriculture Minister, Dr Bryan Acheampong.

In a statement issued on Sunday, May 19, SSNIT explained that Rock City Hotel Limited submitted the best and strongest technical and financial proposal among the bids received, meeting the criteria set out in the Request for Proposals (RFP).

“Based on the criteria set out in the RFP, Rock City Hotel submitted the best and strongest technical and financial proposal amongst those received. Consequently, it is in negotiation with SSNIT to buy a 60% stake in each of the four (4) hotels (Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel and Elmina Beach Resort).

This response by SSNIT was prompted by North Tongu MP, Samuel Okudzeto Ablakwa, who has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate allegations surrounding the sale of six hotels namely Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.

Mr Ablakwa is demanding an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft. He is also alleging violation of constitutional provisions, citing Articles 78(3) and 98(2) of the 1992 Constitution.

SSNIT, however, in its response said the strategy to partner with an investor to raise capital to invest in its hotels, and also assist in their management, started in 2018 through International Competitive Tendering (ICT) processes as prescribed by the Public Procurement Act.

SSNIT said it will not comment further on the case until the impending investigation with CHRAJ has been completed and it will cooperate fully with CHRAJ throughout its investigation process.

Read the full statement below