SSNIT Boss Refutes Freddy Blay's Claim His Son's $200 Million Bid Was Rejected: "He Didn't Qualify"
- Kofi Bosompem Osafo-Maafo has denied claims made by Freddy Blay that SSNIT had rejected a $200 million bid from his son
- According to the SSNIT boss, the former NPP chairman's son did not make it past the evaluation stage before he was disqualified
- He said Blay's proposal was weak and did not meet the standards the SSNIT wanted
The Social Security and National Insurance Trust (SSNIT) says claims made by the former New Patriotic Party Chairman, Freddy Blay, about SSNIT rejecting a $200 million bid by his son for the Trust’s 60% stake in its hotels is unsubstantiated.
According to the Director General of SSNIT, Kofi Bosompem Osafo-Maafo, Freddy Blay’s son’s company, Spartan Ives, did not even make it through the first round of the bid process.
Source: UGC
He explained that Spartan Ives did not qualify past the evaluation stage of the bidding process.
He said their technical proposal was weak, and they had scored below the required 50%.
According to Osafo-Maafo, Spartan Ives's failure to pass the evaluation stage resulted in their financial proposal not being assessed or perused.
He said that following standard protocols, Spartan Ives’ proposal was returned to the company and is still in its envelope, unopened.
Therefore, he described Freddy Blay's claim that his son’s money had been turned down in the bid for the hotels as inaccurate because Spartan Ives never reached the stage where they would be allowed to make an offer for the company.
“The offer was never made, the offer was never opened," he emphasised.
SSNIT justifies the sale of hotels
The Social Security and National Insurance Trust (SSNIT) has explained its decision to sell its 60% stake in some four hotels to Rock City Hotel Limited.
In a press briefing on Monday, July 8, 2024, the Director General of SSNIT, Kofi Bosompem Osafo Maafo, said all hotels listed by SSNIT for sale had suffered a series of losses over the years.
He said the majority of hotels listed no longer pay dividends to the government with no other option than to put them up for sale.
He argued that that was the only way to revive the state hotels.
Osafo Maafo explained that managing the hotels is a capital-intensive business that needs continuous capital expenditure; however, SSNIT does not have the means to sustain these hotels.
He said this was why SSNIT decided to find a strategic investor to take the hotels off their hands.
Ablakwa proposes a Kenyan-style protest against hotel sales
YEN.com.gh has reported that Samuel Okudzeto Ablakwa, MP for North Tongu, has called for a massive demonstration against the sale of the SSNIT Hotels.
He said the demonstration should be akin to the recent protests in Kenya, which forced President Ruto to rescind the finance bill.
He said President Akufo-Addo's failure to stop selling the hotels despite widespread criticism is the cause of the demonstration.
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Source: YEN.com.gh
