Labour Protests NPRA’s Controversial SSNIT Hotels Sale
Organised Labour launches strike in response to NPRA’s approval of SSNIT Hotels sale, demanding transparency and accountability in decision-making.
Organised Labour has announced an indefinite strike in response to the National Pensions Regulatory Authority’s (NPRA) recent decision. The NPRA approved the Social Security and National Insurance Trust’s (SSNIT) contentious proposal to sell a 60% stake in four hotels to Bryan Acheampong’s Rock City Hotel.
The Trades Union Congress (TUC), led by Secretary General Dr. Yaw Baah, expressed confusion and dissatisfaction with the NPRA’s decision. Dr. Baah questioned why the NPRA would allow SSNIT to proceed with the deal without further consultation, especially after initially ordering SSNIT to halt the process.
The TUC’s reaction to the approval has been swift and decisive. On July 12, Dr. Baah announced that all TUC members would strike starting Monday, July 15. He emphasized, “From Monday 15 of July 2024, all workers in Ghana must not go to work until SSNIT publicly announces the termination of the process for the sale of its shares in the hotels.”
The union’s stance is clear: the sale of SSNIT’s stake to Rock City Hotel does not serve the best interests of Ghanaian workers. The TUC is adamant that SSNIT must terminate the deal to protect workers’ interests and investments.
The controversy surrounding the sale began when SSNIT revealed its intention to offload a majority stake in the hotels. The NPRA initially intervened, requesting a halt to the sale to review the details. However, on Thursday, the Minister for Employment, Labour Relations, and Pensions, Ignatius Baffour Awuah, informed Parliament that the NPRA had given SSNIT the green light to proceed with the sale.
Minister Baffour Awuah explained that the NPRA’s initial directive was a precautionary measure to ensure they had all necessary details about the transaction. He stated, “So, as a Minister, I can tell you with authority that NPRA has since indicated that they have seen the processes and they think that SSNIT can go ahead.”
The TUC’s decision to strike underscores the deep dissatisfaction among Ghanaian workers regarding the handling of their pension funds and investments. The sale of SSNIT’s stake in the hotels is seen as a significant move that could have long-term implications for the financial security of many workers.
Dr. Baah reiterated that the TUC was not against the principle of selling assets to improve returns for workers’ pensions. However, he stressed that any such sale should be transparent, thoroughly evaluated, and conducted in the best interests of the workers. The union believes that the current deal with Rock City Hotel does not meet these criteria.
The impending strike is expected to have widespread implications across various sectors. The TUC’s directive means that workers from multiple industries will be laying down their tools, potentially leading to significant disruptions in services and productivity nationwide.
This strike action reflects broader concerns within the labour movement about the management and oversight of workers’ pensions. There is a growing demand for greater transparency and accountability from institutions like SSNIT and regulatory bodies like the NPRA. Workers are calling for assurances that their contributions and investments are being managed prudently and with their best interests at heart.
The sale of the hotels, valued at a substantial sum, has raised questions about the criteria used to select Rock City Hotel as the buyer. There are concerns about whether the process was competitive and fair, and whether the sale price accurately reflects the value of the assets.
As the strike looms, the TUC is poised to leverage its collective power to demand a reconsideration of the sale. The union’s leadership is likely to engage in further negotiations and discussions with the NPRA and SSNIT to seek a resolution that aligns with the interests of Ghanaian workers.
The NPRA’s approval of SSNIT’s sale of a 60% stake in four hotels to Rock City Hotel has sparked significant unrest among Ghanaian workers. The TUC’s indefinite strike action, set to begin on July 15, highlights the union’s determination to ensure that workers’ investments are managed transparently and in their best interests. As the situation develops, all eyes will be on the NPRA, SSNIT, and the TUC to see how this contentious issue will be resolved.
Source: Myjoyonline
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