The National Democratic Congress (NDC) Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has taken a firm stand against the sale of four Social Security and National Insurance Trust (SSNIT) hotels to Rock City Hotel Limited, owned by Ghana’s Minister of Agriculture, Bryan Acheampong.
Leading a demonstration today, Ablakwa has declared his determination to block any attempt to finalize the sale.
In a passionate address to the media, Ablakwa stated, “It has become the whole of Ghana versus the few lootocrats who are determined to continue with their state capture, and I am clear in my mind that they will have no choice but to listen. Even if you don’t listen and you try to sell this hotel, how are they going to have access to the hotel? How? Because we will block that access. These are our assets, and we are saying you haven’t consulted us.”
Reiterating his commitment, he added, “Rest assured, we are confident these hotels will not be sold.”
The protest, organized for today, aims to compel President Akufo-Addo to intervene and prevent the sale of the SSNIT hotels.
Ablakwa also mentioned that he expects officials from the presidency to meet the demonstrators and receive their petition for submission to the president.
SSNIT Hotels saga
In a recent commentary on the matter, Ablakwa shared an internal memo between the agri-minister Bryan Acheampong’s Rock City Hotels Limited and the state-owned pensions company, SSNIT.
The “SSNIT-ROCK CITY GROUP SALE OF STAKE IN SSNIT HOTELS NEGOTIATION” paper provided a predetermined selling position for each of the hotels in question, including Elmina Beach Resort, La Palm Royal, Ridge Royal, and Labadi Beach Hotel.
According to SSNIT’s appraisal, the combined value of all four hotels was more than US$121 million, although Rock City’s offer was just US$61.2 million.
“The SSNIT memos in my possession reveal that SSNIT’s objective expectations based on valuation reports of 60% stake in the 4 hotels (Labadi, La Palm, Ridge Royal & Elmina) range from a minimum value of US$80,406,630.00 to a maximum of US$121,315,643.00.
“From the intercepted memos, Hon. Bryan Acheampong’s Rock City offer fell far below the minimum value of the 4 hotels. Hon. Bryan Acheampong’s below par bid was US$61,200,000.00,” he added.
He noted the significant losses that SSNIT stood to make if they pushed ahead with accepting the Rock City offer.
Ablakwa was the first to report on the planned sale of SSNIT’s stake in the said hotels and has since adduced evidence to prove the deal was against the interest of the state and pensioners in particular.
He has also filed a petition at CHRAJ to probe possible conflict of interest over the minister’s role in Rock City and his political position as minister and Member of Parliament.