Ablakwa Leads Protest Against Potential Sale Of SSNIT Stake In 6 Hotels: “Hands Off Our Hotels”
- Protesters have gathered at the Labadi Beach Hotel in Accra to protest the potential sale of a 60 percent stake in hotels owned by SSNIT
- The hotels in question include Labadi Beach Hotel, La Palm Royal Beach Resort and Elmina Beach Resort
- The demonstration, called the “Hands Off Our Hotels” protest, is being led by North Tongu legislator Samuel Okudzeto Ablakwa
Protesters have gathered at the Labadi Beach Hotel in Accra to protest the potential sale of a 60 percent stake in six hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, owned by Food and Agriculture Minister Bryan Acheampong.
The “Hands Off Our Hotels” demonstration is being led by North Tongu MP Samuel Okudzeto Ablakwa.
Source: Facebook
The MP, Organised Labour, and other stakeholders have questioned the process that led to the selection of Rock City as the viable entity for purchasing the hotels. The demonstration also saw the participation of chiefs in La.
The hotels in question are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.
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What has SSNIT said about the deal?
The trust has previously defended the move to sell a 60 percent stake in its hotels to Rock City Hotel.
SSNIT's response followed a petition to the Commission on Human Rights and Administrative Justice on the conflict of interest in the deal.
The trust said the deal to partner with an investor started in 2018 through International Competitive Tendering (ICT) processes as prescribed by the Public Procurement Act.
It also noted that the advertisement was published in The Economist's January 5-11, 2019, edition. This led to 15 firms expressing interest, following which six were shortlisted.
SSNIT said the Rock City Hotel submitted the best and strongest technical and financial proposal, so it is negotiating to sell a 60 percent stake in six hotels: Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.
Ablakwa contends that selling SSNIT’s shares violates procurement procedures and wants the commission to stop the sale. He also criticised it as a form of state capture.
Ablakwa further asserted that Acheampong, who owns Rock City Hotel Limited, has breached the Constitution by holding a professional position without permission. This violates Articles 78(3) and 98(2) of the 1992 Constitution.
SSNIT said it will cooperate fully with the commission throughout its investigation process.
SSNIT reserves projected to hit 0 by 2036, per new report
YEN.com.gh reported the International Labour Organisation projected a complete depletion of SSNIT’s reserve by 2036.
The International Labour Organisation made these findings in an actuarial valuation study of SSNIT’s viability.
It said that starting in 2029, total contributions, investment income and other income will no longer be sufficient to pay for annual expenditures.
Proofread by Edwina N.K Quarcoo, journalist and copy editor at YEN.com.gh.
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Source: YEN.com.gh
