North Tongu MP Samuel Okudzeto Ablakwa has revealed that the Ministry of Finance’s Central Tender Review Committee approved a payment of US$491,986 to SEM Capital, a transaction advisor in the divestiture of SSNIT hotels.
This approval was granted in a letter dated December 24, 2019, which Ablakwa shared on social media.
The letter, signed by David Quist, secretary to the committee, authorized SSNIT to engage SEM Capital at a contract price of US$491,986, inclusive of taxes.
Ablakwa has been alleging a conflict of interest in the divestiture process, as the owner of the chosen buyer, Rock City Hotel Limited, is his colleague MP and Agric Minister Bryan Acheampong.
Ablakwa has called for transparency and accountability in the deal, stating that the payment to SEM Capital is costing Ghanaian workers GHS7.1 million (at the current exchange rate).
He has also demanded that the sale be halted, citing a lack of broad consultations by SSNIT before selling strategic state assets.
