SSNIT Hotels

15 Jul

Here’s Why SSNIT Terminated Sale Of 4 Hotels To Rock City

wontumionlineBusinessRock city, SSNIT Hotels

The Social Security and National Insurance Trust (SSNIT) had announced its decision to sell its 60 percent stake in four hotels to Rock City Hotel, which is owned by the Minister of Food and Agriculture, Bryan Acheampong. However, this move was fraught with several challenges as some Ghanaians, including Organized Labour and the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, cited conflict of interest, procurement breaches, and lack of due process. After several agitations, Rock City withdrew from the bidding process, and SSNIT subsequently announced the termination of the sale of its 60 percent stake in the four…

08 Jul

Sale of 60% Shares Only Viable Option To Revive Hotels – SSNIT

wontumionlineBusinessSSNIT Hotels

The Social Security and National Investment Trust (SSNIT) has announced that selling 60% of its shares in four hotels to a private investor was the only viable option to restore its financial stability. This decision comes amidst concerns about a change in management and controversies suggesting that SSNIT did not follow due process before opting to sell its shares in these hotels. The hotels involved are: Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Ridge Royal Hotel. During a press conference in Accra on Monday, SSNIT’s Director General, Kofi Bosompem Osafo-Maafo, clarified that thorough due diligence…