Former Director General of SSNIT, Ernest Thompson, is calling on the board of the Trust to halt Rock City Hotel’s purchase of sixty percent stake in its hotels.

His call comes on the heels of mounting opposition to the deal, following a push by civil society organisations and North Tongu MP, Samuel Okudzeto Ablakwa for the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the transaction.

Mr Thompson argues that the procedure used in the selection of the Agric Minister’s company isn’t in the best interest of shareholders.

"I think that at this stage it might be necessary for the SSNIT Board to just stop this transaction because the procedure they used is not the best.

"SSNIT is a pension fund and it is a long term investor, it is not a bank receiving deposits. So SSNIT's investments are analyzed from serious places and you just don't exit from SSNIT investments that way," he said.

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But the Minister for Information, Fatimatu Abubakar is defending the deal saying it will aid in restructuring SSNIT and facilitating its recovery.

During a courtesy visit to the Multimedia Group Limited aimed at engaging the Ministry’s stakeholders and outlining current measures being implemented, the Minister urged the public to view the owner of Rock City Hotels not merely as a Cabinet Minister, but as a dedicated Ghanaian investor committed to enhancing these properties and supporting SSNIT's growth.

"If there was a decision over five years by the fund managers that we want to diverse, let us get other people who are able to inject capital so that these facilities are revamped and fixed in such a way that they are competitive and generate more revenue, it is a good thing to do.

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"It is also interesting that people have forgotten that Rock City is now known as one of the biggest hotel facilities in the sub-region. Is it only because this person is politically exposed, so all of a sudden his credit score is not taken into consideration, his financial capacity that precedes his political office and even precedes his coming into office as an MP, means nothing,"she stressed.

Background

The debate over SSNIT’s decision to sell its shares has intensified since the North Tongu MP, Samuel Okudzeto Ablakwa lodged a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the processes surrounding the sale of six hotels to Rock City Hotel owned by Bryan Acheampong.

The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

Mr Ablakwa's petition seeks an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

SSNIT Response

The Social Security and National Insurance Trust (SSNIT) has since denied any foul play in its decision to sell a 60% stake in its hotels to Rock City Hotel.

They insisted that the process in selecting a buyer was transparent and strictly adhered to the Public Procurement Act to select Rock City Hotel, among five other hotels that applied.

In a statement issued on Sunday, May 19, SSNIT explained that Rock City Hotel Limited submitted the best and strongest technical and financial proposal among the bids received, meeting the criteria set out in the Request for Proposals (RFP).

SSNIT assured the public it will cooperate fully with CHRAJ throughout its investigation process.

Byran Acheampong reacts

Mr Acheampong on Tuesday said the allegations peddled by Mr Ablakwa suggesting that he's committing any wrongdoing in Rock City's proposal to purchase 60% of shares in SSNIT's four hotels are false and baseless.

Speaking on JoyFM's Super Morning Show, the Abetifi MP expressed his disappointment in the stance taken by his colleague.

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"You are just adding things together and trying to destroy me and trying to destroy Rock City. It is most unfair, it is 'un-Ghanaian' and you should stop it," he told Mr Ablakwa who was also on the Super Morning Show.

The next step

But, Mr Ablakwa is not relenting. He insists that he would make a petition to the Speaker of Parliament to address the issue.

“I have obtained the full list of 47 ministers and MPs diligently and I know for a fact that indeed, Bryan Acheampong confirmed this morning that he has not complied with the provisions of the Constitution. So I certainly will bring this to the attention of the Speaker as soon as the House resumes.”