Organized Labour is currently holding an emergency meeting to decide its next steps after the National Pensions Regulatory Commission (NPRA) approved the sale of 60% of SSNIT’s shares in six hotels.
The hotels affected are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Ridge Royal Hotel.
Labour has repeatedly called on the government to halt the sale of these hotels to Rock City Group, arguing that it is not in the public’s best interest.
However, SSNIT has pointed out that only Labadi Beach Hotel has paid a dividend in the past five years. Due to consistent losses and an inability to service their debts, SSNIT decided to sell 60% of the shares to Rock City Group.
Organized Labour argues that the sale should be stopped and management should be changed instead.
The outcome of the emergency meeting is expected to clarify Organized Labour’s position on this issue.
