The management of the Social Security and National Insurance Trust (SSNIT) has defended its decision to sell 60% of its stake in four hotels to a private investor. SSNIT aims to partner with a strategic investor to raise capital and improve management of its hotel properties.
This explanation follows North Tongu MP, Samuel Okudzeto Ablakwa’s, petition to the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate and halt the sale of six hotels, including Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel, to Abetifi MP Bryan Acheampong.
Mr. Ablakwa’s petition alleges conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft. He claims violations of Articles 78(3) and 98(2) of the 1992 Constitution, noting that Bryan Acheampong did not seek permission from the Speaker of Parliament to hold an office of profit.
In a statement on May 19, 2024, SSNIT stated that the process of finding a strategic partner began in 2018 and is not yet concluded. SSNIT confirmed that CHRAJ had been petitioned for a full investigation and pledged full cooperation.
SSNIT clarified that the bid by Rock City Hotel, owned by Bryan Acheampong, was successful for four hotels: Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort. Bids for Busua Beach Resort and Trust Lodge were unsuccessful and thus excluded from the sale.
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