SSNIT defends sale of 60% stake in 4 hotels amid allegations by Ablakwa

The Social Security and National Insurance Trust (SSNIT) has denied any misconduct in its decision to sell a 60% stake in its hotels to Rock City Hotel, owned by Food and Agriculture Minister Dr. Bryan Acheampong.

This defense follows North Tongu MP Samuel Okudzeto Ablakwa's petition to the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the sale

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Ablakwa's petition calls for an investigation into alleged conflicts of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft concerning the sale of Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.

In a Facebook post on May 17, Ablakwa claimed that Dr. Acheampong's involvement in the sale without the Speaker of Parliament's permission breaches parliamentary protocol regarding holding offices of profit. He cited Articles 78(3) and 98(2) of the 1992 Constitution, stating that Acheampong had not sought the necessary permissions from Parliament's Committee on Office of Profit.

However, SSNIT clarified that the decision to partner with an investor began in 2018 through International Competitive Tendering (ICT) as per the Public Procurement Act.

SSNIT's press release stated that the process started in November 2018 with the employment of a Transaction Advisor. Advertisements for Expressions of Interest (EOI) were placed in local and international publications in early 2022, attracting nine responses, of which six were shortlisted.

The Rock City Hotel emerged as the best candidate based on technical and financial evaluations, SSNIT noted. Negotiations are ongoing for the sale of stakes in Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort, while bids for Busua Beach Resort and Trust Lodge were unsuccessful and excluded from the process.

SSNIT emphasized that the transaction is not yet complete and stated its willingness to cooperate fully with CHRAJ during the investigation.

SSNIT said it will not comment further until the investigation by CHRAJ is concluded.