NEWS

Rock City Hotel Offers Best Proposal for 60% Stake in Four Hotels – SSNIT

The Social Security and National Insurance Trust (SSNIT) has clarified its decision to sell a 60% stake in four of its hotels to Rock City Hotel, owned by Dr. Bryan Acheampong, the Minister for Food and Agriculture.

This clarification comes in response to a petition filed by North Tongu MP, Samuel Okudzeto Ablakwa, urging the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate and halt the sale of the hotels to the Abetifi MP.

Mr. Ablakwa’s petition raises concerns about conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft in the sale process. He also highlights alleged violations of constitutional provisions regarding holding an office of profit.

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In response, SSNIT stated that the decision to seek a strategic investor for the hotels was initiated in 2018 through an International Competitive Tendering (ICT) process, in accordance with the Public Procurement Act. The process involved the engagement of a Transaction Advisor and the publication of advertisements to solicit bids from interested parties.

According to SSNIT’s press release, Rock City Hotel submitted the most compelling technical and financial proposal among the received bids, meeting the criteria set out in the Request for Proposal (RFP) documents. Consequently, negotiations are underway for Rock City Hotel to acquire a 60% stake in four of the hotels: Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort.

However, bids for Busua Beach Resort and the Trust Lodge were deemed unsuccessful and are no longer part of the sale process. SSNIT’s explanation aims to address concerns raised about the transparency and fairness of the sale process, emphasizing adherence to prescribed procurement procedures and selection criteria.

Source: Citinews

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