The Communications Director of the governing New Patriotic Party (NPP), Richard Ahiagbah, has raised concerns about the potential long-term implications of the cancellation of the strategic investment decision by the Social Security and National Insurance Trust (SSNIT), to divest a 60% stake in four hotels to a private investor.
SSNIT announced on July 12 that the planned sale to Rock City Hotel had been terminated. This was after the hotel owned by the Food and Agric Minister, Bryan Acheampong declared non-interest in the transaction citing the heightening stakeholder disapproval.
This decision came amidst threats of a nationwide strike from Organised Labour starting July 15.
In a social media post on X (formerly Twitter), Richard Ahiagbah acknowledged the significant influence of organised labour in the protest, expressing empathy towards the workers' concerns.
However, he warned against obstructing a lawful corporate decision, emphasising the risks to corporate governance, market trust, and overall stability.
Mr Ahiagbah stressed the importance of carefully weighing the repercussions of this move, expressing concern about its potential wide-ranging effects.
“The recent halt of SSNIT’s attempt to sell 60% of its shares in the five hotels is a testament to the power of organised labour and advocates. Their unwavering dedication to the sale has prevailed, sending a clear message.
Read also : SSNIT Board and top management must step down – UTAG
“However, while this may seem like a victory worth celebrating, we must also consider the precedent we have set. Are we opening the door to future interference in public offerings based on political affiliations?
“This could harm corporate governance, market confidence, and overall certainty. Just as we are bound to respect a referee’s decision in a football game, we must also abide by the outcomes of democratic processes, even if they don’t align with our preferences.
“While I empathise with the workers’ concerns, we must also consider the implications of impeding a legitimate corporate decision. We must deeply reflect on the potential long-term consequences of this precedent.”
Latest Stories
-
NDC not ready for elections – Evans Nimako over demand for audit of voters register
37 seconds -
David Asante set to contest 2024 election as Nkwakaw MP withdraws on health grounds
23 mins -
We have no interest in demolishing property at Cantonments, Labone – Office of the VP
41 mins -
NDC annuls Amenfi Central parliamentary primaries; sets date for rerun
57 mins -
National Junior Speller premieres Sept. 7 on Joy Prime
1 hour -
MzVee drops new single and video ‘Peace of Mind’
2 hours -
EC hasn’t accepted independent forensic request – NDC
3 hours -
Cyprus side Apollon Limassol sign Ghanaian youngster Clinton Duodu
3 hours -
COCOBOD to open new cocoa season with self-financing plan on September 10
4 hours -
Sanitation and how AI can harness it: A pathway to a cleaner Ghana
4 hours -
United States donates GH₵78m Mobile Field Hospital to Ghana Armed Forces
4 hours -
Evaluating impact of Free SHS policy on public education financing in Ghana and the role of AI: benefits and challenges
4 hours -
MTN GirlCode Hackathon empowers girls to solve SDG-related problems with technology
4 hours -
Enhancing Ghanaian journalism with AI: balancing innovation and integrity
4 hours -
Obuasi receives new health center to boost healthcare delivery
4 hours