SSNIT Responds to Concerns Over Hotel Stake Divestment to Rock City Hotels
Daniel Nonor
The Social Security and National Insurance Trust (SSNIT) has responded to concerns regarding its decision to divest 60% of its stake in four of its six hotels to Rock City Hotels, owned by Bryan Acheampong, Minister for Food and Agriculture and New Patriotic Party (NPP) Member of Parliament for Abetifi Constituency.
This development follows a formal petition lodged by North Tongu MP, Samuel Okudzeto Ablakwa, with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the processs surrounding the sale of six hotels.
In a statement, SSNIT clarified 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).
Management of SSNIT explained that the selection process began with the appointment of a Transaction Advisor, advertised in the Daily Graphic, Ghanaian Times, and The Economist magazine . It added that By January 2019, fifteen firms had expressed interest, and six were shortlisted for further evaluation. Approval for the Transaction Advisor selection was obtained from the Central Tender Review Committee (CTRC) in December 2019.
Further advertisements in early 2022 led to nine companies submitting proposals by the March 23 deadline. Of these, six were shortlisted. Following a comprehensive technical and financial evaluation, Rock City Hotel emerged as the top bidder.
Management said Negotiations are underway for Rock City Hotel to acquire a 60% stake in Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort. It explained that Bids for Busua Beach Resort and Trust Lodge were unsuccessful and are no longer part of the process.
Management of SSNIT emphasized that all the processes involved in the transaction were in strict adherence to International Competitive Tendering (ICT) processes, and in accordance with the Public Procurement Act, 2003 (ACT 663) as amended by ACT 914.
SSNIT reassured pensioners, contributors, and the public of its commitment to managing the Trust prudently, ensuring the long-term sustainability of the Pension Scheme.
