Nana Akomea, Managing Director of the State Transport Company, has revealed details of the bid made by Rock City Limited, a company owned by Agriculture Minister Bryan Acheampong, to acquire significant shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT).
Akomea disclosed that Acheampong’s bid is $20 million higher than the second bidder, a company renowned for estate construction.
Appearing on Good Morning Ghana on Metro TV, Akomea justified the sale, stating that it makes financial sense given the hotels’ state of disrepair and significant losses.
He emphasized that the hotels require substantial investment, and with each passing day, they incur more losses, including unpaid electricity bills, staff salaries, SSNIT contributions, and GRA tax.
SSNIT has defended its decision to sell a 60% stake in the hotels to Rock City Hotel, citing Acheampong’s company as the best proposal.
The Trust aims to partner with a strategic investor to raise capital for hotel investments and management.
However, the sale has sparked controversy, with Samuel Okudzeto Ablakwa, Member of Parliament, petitioning the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the sale, particularly to the Minister of State and Member of Parliament, Dr. Bryan Acheampong.
The hotels involved include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.
Both Ablakwa and key members of Organised Labour have expressed disagreement with SSNIT’s rationale for the sale, prompting a heated debate on the matter.
