NEWS

Ablakwa Presents Documents to Support Claims of Rock City Hotel’s Financial Losses

North Tongu MP, Samuel Okudzeto Ablakwa, has released documents to support his allegations that Rock City Hotel is operating at a loss. Ablakwa’s claims come amid controversy surrounding the Social Security and National Insurance Trust’s (SSNIT) decision to sell 60 percent of its shares in four hotels, including the Labadi Beach Hotel, to Rock City Hotel.

Ablakwa had opposed this sale, arguing that Rock City Hotel was financially unstable.

Rock City Hotel, owned by Minister for Food and Agriculture Bryan Acheampong, has denied these allegations. Acheampong challenged Ablakwa to substantiate his claims. In response, Ablakwa, during an interview on Accra’s Metro TV, disclosed documents he had obtained from the Ghana Revenue Authority (GRA) that indicated Rock City Hotel had projected losses for the year 2021.

Ablakwa noted that on March 12, 2021, Rock City Hotel had filed returns with the GRA predicting financial losses for that year. He also revealed that the hotel had failed to file tax returns for the entire year of 2022.

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“On March 12, 2021, they reported to the GRA that they would incur losses for that year. Then, two years later, on March 9, 2023, they adjusted their filings, showing only two withholding taxes totaling GHC20,782 for 2021,” Ablakwa stated.

He further alleged that Rock City Hotel did not file any tax returns for 2022 until after he exposed their financial status and lodged a complaint with the Commission

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