Spokesperson on Governance and Security for the government, Palgrave Boakye-Danquah, has provided clarity regarding the intentions of the President Akufo-Addo-led administration concerning the sale of Social Security and National Insurance Trust (SSNIT) hotels.
During an appearance on Joy Prime’s Prime Morning show, he emphasized that the government aims to issue shares to enhance revenue and involve private sector expertise.
Mr. Boakye-Danquah’s remarks come in response to mounting concerns from certain political critics, which prompted a protest led by Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu.
The demonstration, backed by organized labor and various civil society organizations, aimed to exert pressure on the government to halt the transaction.
“Ghanaians must know that there is no sale of hotels; it is floating of shares. Stop misleading Ghanaians; we are not selling any hotel; it’s the floating of shares; 60% of the shares,” he stressed.
The NPP spokesperson rebuffed allegations of “state capture” made by opposing parties, underscoring that the government’s plan to issue shares in state-owned hotels does not constitute capitalism.
He further stated that the Minority’s claims are unfounded, attributing them to their misunderstanding of the decision’s true essence.
“There is no ‘state capture’, unless, of course, the NDC does not understand what is going on with the investment of SSNIT; they should look at the investments of SSNIT in a value chain,” he told the host.
He added that “the fact that Rock City has not made as much profit as they expected doesn’t mean that they cannot go ahead and purchase hotels; it doesn’t mean that the investment Rock City has made and the level of financial muscle they have will not give them the capacity to purchase more. The hotel industry is like the aircraft industry; it’s got its very peak season and its very low season.”
In May, Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, exposed the deal and voiced concerns over SSNIT’s decision to sell 60% of its stake in the hotels to a government minister.
Despite calls from the Minority and a petition to the Commission on Human Rights and Administrative Justice (CHRAJ) urging the president to halt the hotel sale, the Ghana Federation of Labour has claimed that SSNIT is continuing negotiations to sell its stake in four hotels to Rock City Hotel, owned by Minister of Agriculture, Bryan Acheampong.