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Tag: SSNIT

  • Organised Labour meets to discuss next action after SSNIT hotel sale approval

    Organised Labour meets to discuss next action after SSNIT hotel sale approval

    Organised Labour is convening an emergency meeting today to determine its next steps following the National Pensions Regulatory Commission’s (NPRA) approval of the sale of SSNIT shares in six hotels.

    Minister for Employment, Labour Relations and Pensions, Ignatius Baffuor Awuah, announced in Parliament on Thursday, July 11, that the National Pensions Regulatory Authority (NPRA) has cleared the Social Security and National Insurance Trust (SSNIT) to proceed with its contentious plan to sell four hotels to Bryan Acheampong’s Rock City Hotel.

    This decision comes despite significant public opposition and initial directives to halt the transaction.

    Addressing Parliament, Minister Baffuor Awuah explained that the NPRA’s initial directive was issued to ensure all details of the sale were thoroughly reviewed.

    “As Minister, I can tell you on authority that NPRA has since indicated that they had seen the processes and they think that SSNIT can go ahead,” he stated.

    The Employment Minister elaborated that SSNIT’s decision to sell 60% of its stake in the four hotels is part of a broader strategy to enhance investment performance.

    Minister for Employment, Labour Relations and Pensions, Ignatius Baffuor Awuah

    He emphasized that this move aligns with the primary objective of the scheme, which is to provide monthly pensions and related benefits to Ghanaian workers, ensuring their retirement income security.

    “SSNIT’s decision to divest is also supported by its funding and investment objectives,” Mr. Awuah noted. He highlighted that SSNIT has been implementing various strategic measures to achieve its goals, including rebalancing its investment portfolio, increasing investment in fixed income, decreasing equity exposure, and restructuring non-performing investments.

    Despite these explanations, the sale has faced backlash from the public and civil society organizations. North Tongu MP, Samuel Okudzeto Ablakwa, who brought attention to the deal, has raised concerns about the ability of Bryan Acheampong’s Rock City Hotel Limited to turn around the fortunes of the SSNIT hotels.

    Mr. Ablakwa pointed out that Labadi Beach Hotel, Ridge Royal, and the other hotels involved are profitable, while Rock City Hotel Limited has consistently reported losses.

    Mr. Ablakwa accused the transaction of being part of a larger pattern of state capture by appointees of the Akufo-Addo government.

    He questioned the prudence of selling profitable state assets to a company with a track record of financial losses, suggesting that the deal might not be in the best interest of the public and pension contributors.

  • Labour groups convene urgent meeting in response to NPRA’s decision on SSNIT hotels

    Labour groups convene urgent meeting in response to NPRA’s decision on SSNIT hotels

    Organised Labour will convene an urgent session today to determine its course of action after the National Pensions Regulatory Commission (NPRA) authorized the sale of SSNIT shares in six hotels.

    On June 28, the NPRA had instructed SSNIT to halt negotiations with Rock City regarding the sale of four hotels, pending additional assessment and consultation.

    However, despite this directive, Employment Minister Ignatius Baffour Awuah informed Parliament on Thursday, July 11, that all required procedures have been followed in the sale process.

    “Yes, it is true that NPRA came up with a directive, but I would appreciate it if my brother, my colleague, really read the directive from NPRA. It said it needed to be furnished with all information relating to the sale of the hotels, which SSNIT has since done that.”

    “So, it wasn’t like a direct something that SSNIT should not go ahead to do anything, but then, SSNIT can only go ahead when NPRA, which is the regulator within the field, had actually certified that they have seen all the documentation and the processes, and they think that we are good to go.”

    “Yes, so, as a minister, I can tell you on authority that NPRA has since indicated that they have seen the processes, and they think that SSNIT can go ahead.”

    As a result, the emergency meeting seeks to tackle the apprehensions of Organised Labour regarding the sale and to devise an suitable response.

  • SSNIT has received NPRA’s approval to sell its hotels to Bryan Acheampong – Employment Minister

    SSNIT has received NPRA’s approval to sell its hotels to Bryan Acheampong – Employment Minister

    Minister for Employment, Labour Relations and Pensions, Ignatius Baffuor Awuah, announced in Parliament on Thursday, July 11, that the National Pensions Regulatory Authority (NPRA) has cleared the Social Security and National Insurance Trust (SSNIT) to proceed with its contentious plan to sell four hotels to Bryan Acheampong’s Rock City Hotel.

    This decision comes despite significant public opposition and initial directives to halt the transaction.

    Addressing Parliament, Minister Baffuor Awuah explained that the NPRA’s initial directive was issued to ensure all details of the sale were thoroughly reviewed.

    “As Minister, I can tell you on authority that NPRA has since indicated that they had seen the processes and they think that SSNIT can go ahead,” he stated.

    The Employment Minister elaborated that SSNIT’s decision to sell 60% of its stake in the four hotels is part of a broader strategy to enhance investment performance.

    Minister for Employment, Labour Relations and Pensions, Ignatius Baffuor Awuah

    He emphasized that this move aligns with the primary objective of the scheme, which is to provide monthly pensions and related benefits to Ghanaian workers, ensuring their retirement income security.

    “SSNIT’s decision to divest is also supported by its funding and investment objectives,” Mr. Awuah noted. He highlighted that SSNIT has been implementing various strategic measures to achieve its goals, including rebalancing its investment portfolio, increasing investment in fixed income, decreasing equity exposure, and restructuring non-performing investments.

    Despite these explanations, the sale has faced backlash from the public and civil society organizations. North Tongu MP, Samuel Okudzeto Ablakwa, who brought attention to the deal, has raised concerns about the ability of Bryan Acheampong’s Rock City Hotel Limited to turn around the fortunes of the SSNIT hotels.

    Mr. Ablakwa pointed out that Labadi Beach Hotel, Ridge Royal, and the other hotels involved are profitable, while Rock City Hotel Limited has consistently reported losses.

    Mr. Ablakwa accused the transaction of being part of a larger pattern of state capture by appointees of the Akufo-Addo government.

    He questioned the prudence of selling profitable state assets to a company with a track record of financial losses, suggesting that the deal might not be in the best interest of the public and pension contributors.

  • SSNIT: Pension contributions for 2023 hit GHC6.8bn

    SSNIT: Pension contributions for 2023 hit GHC6.8bn

    SSNIT Pension Scheme has accumulated a total of ₵6.8 billion in contributions, as reported in SSNIT’s operational summary for the year 2023.

    Contribution collections for 2023, showed about a billion cedis jump from the ₵5.8 billion collected in 2022. In 2021, contributions stood at ₵4 billion while in 2020 SSNIT mobilized ₵5 billion.

    The 2023 operations report showed that, private sector contributions stood at ₵4 billion as against a target of ₵3.5 billion. This represents 113.9 percent of its performance.

    By December 2023, contributions from the public sector totaled ₵2.8 billion, falling short of the ₵4.8 billion target, achieving 66 percent of the expected contributions.

    During the same period, SSNIT disbursed ₵5.4 billion in benefit payments, resulting in a surplus of ₵1.4 billion.

    In 2022, total benefit payments amounted to ₵4.1 billion, while in 2021, it was ₵3.6 billion.

    State of Membership

    The figures indicated that active membership reached 1.9 million, demonstrating notable growth compared to previous years.

    According Managers of the scheme, the company was able to retrieve ₵284 million in of arrears.

    Sustaining the Performance

    The company’s management has committed to adopting strategies aimed at enhancing the scheme’s growth. These initiatives include:

    1. Promoting and educating stakeholders, including self-employed individuals, on the use of the Trust’s digital platforms for making contributions.
    2. Partnering with the Office of the Director General to engage prominent employers or quasi-governmental organizations with outstanding debts to recover funds.
    3. Increasing efforts to enroll new SEED members and ensuring timely payment processing.
  • Our best bet now – SSNIT Director General insists on sale of majority stake of hotels

    Our best bet now – SSNIT Director General insists on sale of majority stake of hotels

    SSNIT has justified its sale of a majority stake (60%) in four hotels to a private investor, citing it as the best strategy to rejuvenate the hotels’ financial prospects.

    The properties involved are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Ridge Royal Hotel.

    During a press briefing in Accra, SSNIT’s Director General, Kofi Bosompem Osafo-Maafo, emphasized that after thorough evaluation, the decision to opt for privatization was driven by the hotels’ ongoing financial losses, making a change in management unfeasible.

    “We’ve been through quite a lengthy process to do so. Bear in mind, we’ve also tried having external management companies running the SSNIT hotels and that hasn’t resolved the problem either.

    “So, for us, we look at it twofold, that we are looking to resolve a problem and do so with the introduction of a strategic investor and we outlined the reasons there.”

    “Consistent losses by almost all of our hotels. I know you are aware that Labadi doesn’t make a profit, but the returns are below [par]. They haven’t paid us any dividends with the exception of Labadi. Labadi Beach Resort only started paying dividends for the last 2 years. They haven’t from inception,” he stated.

    Despite its profitability, Osafo-Maafo also defended the decision to include Labadi Beach Hotel in the sale. He explained that SSNIT aimed to maximize overall returns, citing the current profits from the hotel as insufficient.

    “We want to maximize what we get out of it and the question that I asked somebody the other day is if you were selling your car or even your house, if you were selling your house, you’d make an attempt to actually paint it.

    “You wouldn’t wait for your car to be put on stones and then say, now this is the time to sell it. You make it look good. There’s no reason why if a business is doing well and we seek to maximise capital from its to invest elsewhere, we shouldn’t do so.”

    “The reason is simple. Returns are lower than we believe they should be, but also cash always has alternative uses. So why not? There’s a good investment rationale for that,” he stated.

  • NPP bigwigs’ sons ‘clash’ over SSNIT hotels sale

    NPP bigwigs’ sons ‘clash’ over SSNIT hotels sale

    The sons of two renowned personalities in the New Patriotic Party (NPP) are presently involved in a controversy over the sale of some hotels belonging to the Social Security and National Insurance Trust (SSNIT).

    They are the Director General of the Social Security and National Insurance Trust (SSNIT), Kofi Bosompem Osafo-Maafo, the son of Senior Presidential Advisor Yaw Osafo-Maafo and Kwaw Worsemao Blay, the son of former National Chairman of the New Patriotic Party (NPP), Freddie Blay.

    Recently, Kofi Bosompem Osafo-Maafo has denied claims by Freddy Blay that SSNIT rejected a 200 million dollar bid by his son’s company to buy a 60 per cent stake in its hotels.

    According to Mr. Osafo-Maafo, the proposal by Spartan Ives did not pass the initial stage of the bid process.

    During a media update on the operations of the State Pension Trust, the Director General clarified that the envelope containing Spartan Ives’ financial proposal was neither opened nor assessed.

    “The claim made by Mr. Freddy Blay that his son’s company, Spartan Ives, bid 150 to 200 million dollars and SSNIT turned it down cannot be substantiated,” he stated.

    “For the process, you first go through an evaluation panel and score. Once scored and you get past the pass mark, we then assess your financial proposal. That is the process, and that is what the law requires us to do.

    “We did exactly that. Spartan Ives did not get past the evaluation stage. Their technical proposal was weak, and they scored below the required 50%, so their financial proposal was not even assessed. The envelope was not even opened. It was returned to them. That is what the law requires us to do.

    “So to say that SSNIT received an offer of 150 to 200 million dollars and turned it down is not accurate because the offer was never made; the offer was never opened,” he emphasized.

    This clarification follows a revelation by Freddy Blay, Board Chairman of the Ghana National Petroleum Corporation (GNPC), that his son was interested in buying SSNIT’s shares in some hotels advertised in 2022.

    In an interview on TV3 on June 24, 2024, the former NPP National Chairman mentioned that his son submitted a bid of not less than 200 million for about seven SSNIT hotels, but his bid was not accepted.

    Although Blay did not specify the currency denomination for his son’s bid, numerous reports indicated that the bidding was done in United States dollars ($).

    “My son is about 33, 34 (years old). He’s grown up and involved in business. I don’t answer questions for him. But that apart, my son, if you care to know, is not just involved in hotels; he is involved in the tourism industry.

    “SSNIT offered to sell several hotels. He wanted a package, and my son’s company, Spartan (Ives SSA), applied alongside about twelve or so companies. He offered to buy it for over 150 to 200 million with a syndicate of banks supporting him and a well-branded hotel chain,” he said.

    Blay added, “SSNIT decided that they would rather not give it to my son’s company but give it to another company.”

    However, this allegation has been refuted by SSNIT.

    Meanwhile, SSNIT says the decision to sell off a 60 percent stake in four of its hotels remains inconclusive.

    The Trust revealed that it has halted negotiations leading to the sale of a 60 percent stake in its hotels to Rock City Hotel, owned by the Food and Agric Minister, Bryan Acheampong.

    This halt is in line with a directive from the National Pensions Regulatory Authority (NPRA), the institution added.

  • We’ll protest against you if you don’t halt the sale of SSNIT hotels – Concerned farmers to Akufo-Addo

    We’ll protest against you if you don’t halt the sale of SSNIT hotels – Concerned farmers to Akufo-Addo

    The Concerned Farmers Association has threatened to push for President Akufo-Addo’s resignation if the Social Security and National Insurance Trust (SSNIT) proceeds with selling four hotels to Rock City Hotel, a company owned by Bryan Acheampong, the Minister of Agriculture.

    National President Nana Oboadie Boateng expressed strong opposition to the sale, urging SSNIT to halt the transaction or face their backlash. He also called on the Minister to abandon his plans to purchase the hotels, warning that if the acquisition goes through, they will campaign to ensure he loses his parliamentary seat.

    Speaking on Frontline with Kwabena Agyapong on Rainbow Radio 87.5 FM, Boateng cautioned the President to stop the process if he wishes to complete his term peacefully. He declared that the practice of political leaders exploiting their positions to privatize state enterprises must end, as such actions are often riddled with corruption and deceit aimed at defrauding Ghanaians.

    He criticized politicians who acquire state assets while in office, labeling them as unfit for election as MPs or state officials.

    “Bryan Acheampong should abandon the idea. He will not acquire the SSNIT hotels. SSNIT must halt the transaction.

    “We will not permit SSNIT to sell the hotels to Bryan Acheampong. Should they proceed with the sale, we will dismantle SSNIT. We will also organize a colossal, unprecedented demonstration against President Akufo-Addo. The protest will be so extensive that it will reveal to the world the incompetence of this nation, Ghana.

    “We will unmask these corrupt leaders who have mismanaged our country and are now selling and privatizing state assets. We will stage a massive demonstration and an uprising unlike any seen before, to show the world that Ghana, unable to manage its own affairs, is the most ineffectual country,” he said.

    He continued, “If we persist in privatizing our state assets, then the presidency itself should be privatized. We should allow foreigners to take over, be it the whites or the Arabs since they possess the resources.

    “This president and his successors have shown they are incapable. If you cannot manage these basic responsibilities in your own country, then you lack sense and wisdom. We do not support the illicit sale of state assets to political officeholders.

    “If you are incompetent, step aside. We will recognize that Ghanaian leaders are unfit to govern us, and perhaps the British should return to rule.

    “Furthermore, we are investigating to identify all politicians who have acquired state assets and are running for office, especially MPs. After our investigation, we will expose these politicians and encourage Ghanaians to vote against them.”

  • Stop hotel sale to Bryan Acheampong -NPRA orders SSNIT

    The National Pensions Regulatory Authority (NPRA) has instructed the Social Security and National Insurance Trust (SSNIT) to halt its ongoing negotiations with Rock City regarding the sale of four hotels.

    The Rock City Hotel is a company owned by the Minister of Food and Agriculture, who doubles as Member of Parliament (MP) for Abetifi, Bryan Acheampong.

    SSNIT is currently in discussions with Rock City Limited to appoint them as the Strategic Investor for the sale of the following hotels: Labadi Beach Hotel, La Palm Royal Beach Hotel, Elmina Beach Resort, and Ridge Royal Hotel.

    In a letter dated Friday, June 28, the NPRA cited Section 67(2) of the National Pensions Act, which mandates them to issue guidelines to govern investment decisions.

    “As you may be aware, section 67 (2) of the [National Pensions] Act requires us to issue relevant guidelines to guide your investment decisions.”

    The NPRA also mentioned ongoing discussions with the Minister for Pensions and relevant stakeholders concerning this matter.

    “In furtherance of this requirement, you are hereby directed by the Board of the Authority to suspend all the processes seeking to engage Rock City Hotel as the Strategic Investor in a matter of the sale of the above hotels.”

    sale-of-hotels-owned-by-ssnit_240628_103315Download
  • I call on all of God’s angels to examine processes involved in selling SSNIT hotels – Board Chair

    I call on all of God’s angels to examine processes involved in selling SSNIT hotels – Board Chair

    Elizabeth Ohene, the Board Chair of the Social Security and National Insurance Trust (SSNIT), has expressed confident that the selection of Rock City as the preferred bidder for SSNIT hotels was clean, as well us adhered to all rules and regulations.

    Ohene’s stance comes amidst a campaign led by the Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu, who has accused the SSNIT Board and management of various wrongdoings, including abuse of power and lack of transparency.

    In response, Ohene has called for all of God’s Angels and Ghana’s investigative agencies to examine the process and verify its integrity.

    “Mr Okudzeto Ablakwa claims to have God and Ghana on the side of his campaign, and I would hope all of God’s Angels and Ghana’s investigative agencies, temporal and spiritual, would examine the process and tell the world if they find any irregularity or trace of corrupt practice. Indeed, if they should find any evidence of corruption, I will assume and accept responsibility and expect to be prosecuted,” she wrote.

  • “Akufo-Addo is the chief-architect of all the putrefying state capture” – Okudzeto

    “Akufo-Addo is the chief-architect of all the putrefying state capture” – Okudzeto

    North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has labelled President Akufo-Addo as the “chief architect” of a controversial deal involving the sale of four SSNIT Hotels to Rock City, a company owned by the Minister of Food and Agriculture, Bryan Acheampong.

    Mr Ablakwa’s accusations come in the wake of widespread opposition to the sale, which has sparked significant public outcry and protests under the banner ‘Hands Off Our Hotels.’

    Despite these protests and a meeting with organized labor earlier this week, President Akufo-Addo has refused to halt the transaction.

    In a social media post on June 26, 2024, Ablakwa drew a parallel to recent events in Kenya, where massive youth protests compelled the government to withdraw a contentious finance bill that included tax increases.

    The Kenyan demonstrations escalated dramatically, culminating in the burning of cars and a portion of the parliament building on June 25, 2024. Several protestors were reportedly killed by police, with many others injured. Under intense pressure, Kenyan President William Ruto reversed his stance and withdrew the tax plan.

    Citing the Kenyan protests as an inspiration, Ablakwa criticized President Akufo-Addo for his role in the SSNIT hotels deal. He also condemned Elizabeth Ohene, the SSNIT board chair appointed by Akufo-Addo, for justifying the deal despite widespread opposition from Ghanaians and labor representatives on the board.

    “Akufo-Addo’s appointed SSNIT board chair, Elizabeth Ohene, is also boldly justifying the stinky deal despite overwhelming opposition from Ghanaians and the protest of labour reps on her board,” Ablakwa stated.

    “It’s now confirmed beyond any scintilla of doubt — President Akufo-Addo is the chief architect of all the putrefying State Capture. It’s time to declare our own version of what just happened in Kenya,” he continued.

    Ablakwa has called for Ghanaians to prepare for a significant demonstration, promising a major announcement soon regarding the protest plans. He assured the public that the sale of the SSNIT hotels would be actively opposed until it is halted.

  • Ablakwa to replicate Kenya’s protest in Ghana over sale of SSNIT hotels

    Ablakwa to replicate Kenya’s protest in Ghana over sale of SSNIT hotels

    Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, is calling for mass demonstrations in Ghana over the sale of SSNIT hotels, drawing inspiration from the recent youth-led protests in Kenya.

    The protests in Kenya successfully pressured the government to withdraw a controversial finance bill that proposed significant tax increases.

    Referencing these events, Mr. Ablakwa criticized President Akufo-Addo for his unwavering support of the sale of four SSNIT Hotels to Rock City, a company owned by the Minister of Food and Agriculture, Bryan Acheampong.

    In a social media post on Wednesday, June 26, 2024, Mr. Ablakwa highlighted that despite a meeting with organized labour earlier in the week and a demonstration dubbed ‘Hands Off Our Hotels,’ the President has maintained his stance on the sale.

    Mr. Ablakwa accused the SSNIT board chair, Elizabeth Ohene, who was appointed by President Akufo-Addo, of defending the deal despite widespread opposition from Ghanaians and protests from labour representatives on the board.

    He labeled President Akufo-Addo as the “chief architect” of what he describes as a controversial and unpopular deal, declaring that it is time for Ghanaians to mobilize and launch their own version of Kenya’s protests.

    “President Akufo-Addo refused to stop the sale of our SSNIT hotels when he met organized labour yesterday [Tuesday],” Mr. Ablakwa stated. “Akufo-Addo’s appointed SSNIT board chair, Elizabeth Ohene, is also boldly justifying the stinky deal despite overwhelming opposition from Ghanaians and the protest of labour reps on her board.”

    He urged citizens to stay tuned for a major announcement regarding plans for a significant demonstration.

    “It’s now confirmed beyond any scintilla of doubt — President Akufo-Addo is the chief architect of all the putrefying State Capture. It’s time to declare our own version of what just happened in Kenya,” he posted.

    The Kenyan protests escalated dramatically, leading to the burning of cars and part of the parliament building on Tuesday, June 25, 2024.

    Tragically, several protestors lost their lives, allegedly due to police actions, with many others injured. Facing intense pressure, Kenyan President William Ruto ultimately reversed his stance and withdrew the tax plan.

  • Unending murkiness! SSNIT lied Bryan Acheampong offered the highest bid – Ablakwa

    Unending murkiness! SSNIT lied Bryan Acheampong offered the highest bid – Ablakwa

    Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has reacted to former National Chairman of the New Patriotic Party (NPP), Freddie Blay’s recent comment that his son had expressed interest in purchasing shares of hotels owned by the Social Security and National Insurance Trust (SSNIT) in 2022.

    In an interview on TV3 on June 24, 2024, Blay disclosed that his son, a prominent figure in the tourism sector, submitted a bid of not less than 200 million for approximately 7 SSNIT hotels, although his bid was ultimately rejected.

    While Mr Blay did not specify the currency of his son’s bid, it was widely reported to be in United States dollars ($).

    “My son is about 33, 34 (years old). He’s grown up, and involved in business. I don’t answer questions for him. But that apart, my son, if you care to know, is not just involved in hotels, he is involved in the tourism industry.

    He further explained, “SSNIT offered to sell several hotels. He wanted a package and my son’s company Spartan (Ives SSA) applied alongside about twelve or so companies. He offered to buy it for over 150 to 200 million with a syndicate of banks supporting him and a well-branded hotel chain”.

    Responding to this revelation, Mr Ablakwa argued that Mr Blay’s disclosure undermines claims that the majority shares of four SSNIT hotels were sold to Rock City Hotel Limited, owned by Minister for Food and Agriculture, Bryan Acheampong, who reportedly bid US$61 million.

    “We were told Bryan Acheampong offered the highest bid of US$61 million; now former NPP Chairman, Freddie Blay also says his 34-year-old son offered ‘150 to 200 million’ for the SSNIT hotel,” Ablakwa wrote in a post shared on X on June 25, 2024.

    In a statement issued on Sunday, May 19, SSNIT explained that Rock City Hotel Limited presented the best and strongest technical and financial proposal among the bids received, meeting the criteria outlined in the Request for Proposals (RFP). The selection process was transparent and strictly adhered to the Public Procurement Act.

    SSNIT emphasized that there was no favoritism in choosing Rock City Hotel Limited as the preferred investor. The decision to partner with an investor was aimed at raising capital for further investments in their hotels and improving their management.

    Mr Blay, who currently chairs the Board of the Ghana National Petroleum Company (GNPC), made the revelation while refuting accusations of state capture by his son, Kwame Blay, who was alleged to have improperly acquired the Labadi beachfront.

  • My son proposed $150m to $200m for SSNIT hotels but his offer wasn’t accepted – Freddie Blay

    My son proposed $150m to $200m for SSNIT hotels but his offer wasn’t accepted – Freddie Blay

    Former National Chairman of the New Patriotic Party (NPP), Freddie Blay, has confirmed reports that his son had expressed interest in purchasing shares of hotels owned by the Social Security and National Insurance Trust (SSNIT) in 2022.

    In an interview on TV3 on June 24, 2024, Blay disclosed that his son, a prominent figure in the tourism sector, submitted a bid of not less than 200 million for approximately 7 SSNIT hotels, although his bid was ultimately rejected.

    While Mr Blay did not specify the currency of his son’s bid, it was widely reported to be in United States dollars ($).

    Mr Blay, who currently chairs the Board of the Ghana National Petroleum Company (GNPC), made these remarks while refuting accusations of state capture by his son, Kwame Blay, who was alleged to have improperly acquired the Labadi beachfront.

    “My son is about 33, 34 (years old). He’s grown up, and involved in business. I don’t answer questions for him. But that apart, my son, if you care to know, is not just involved in hotels, he is involved in the tourism industry.

    He further explained, “SSNIT offered to sell several hotels. He wanted a package and my son’s company Spartan (Ives SSA) applied alongside about twelve or so companies. He offered to buy it for over 150 to 200 million with a syndicate of banks supporting him and a well-branded hotel chain”.

    Responding to this revelation, Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, argued that Mr Blay’s disclosure undermines claims that the majority shares of four SSNIT hotels were sold to Rock City Hotel Limited, owned by Minister for Food and Agriculture, Bryan Acheampong, who reportedly bid US$61 million.

    “We were told Bryan Acheampong offered the highest bid of US$61 million; now former NPP Chairman, Freddie Blay also says his 34-year-old son offered ‘150 to 200 million’ for the SSNIT hotel,” Ablakwa wrote in a post shared on Facebook on June 25, 2024.

  • Ablakwa submits RTI to SSNIT for details on Rock City’s tax clearance certificate

    Ablakwa submits RTI to SSNIT for details on Rock City’s tax clearance certificate

    Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu, has filed a Right to Information (RTI) application with the Social Security and National Insurance Trust (SSNIT).

    His request seeks information regarding Rock City’s Ghana Revenue Authority (GRA) Tax Clearance Certificate.

    Ablakwa alleged that Rock City Hotel, owned by Ghana’s Minister of Food and Agriculture, Bryan Acheampong, did not file tax returns for 2021 and 2022 despite bidding for a 60% stake in four SSNIT-owned hotels.

    He argued this violates the Income Tax Act, 2015 (Act 896) and SSNIT’s Pre-Qualification Criteria, which should have led to Rock City’s disqualification.

    In addition to the tax issues, Ablakwa has also requested the complete evaluation report and minutes of all tender committee meetings related to the hotel sale.

    Highlighting the importance of transparency and accountability, Ablakwa urged SSNIT to promptly fulfill his RTI requests.

    “Evidence that the Rock City Hotel Limited’s (with registration number CS075262016) bid for SSNIT’s hotels complied with the Income Tax Act, 2015 (Act 896) and SSNIT’s own pre-qualification criteria as advertised for Project Number: GR/SSNIT/CS/0001/2022 which mandated all bidders to present a valid Ghana Revenue Authority Tax Clearance Certificate.”

    “This request has become imperative considering that Rock City’s record at GRA, which is now available to me, incontrovertibly confirms that Rock City did not file its annual tax returns in the fiscal years of 2021 and 2022. Indeed, Rock City’s attempt to file their annual tax returns for the years in issue were carried out belatedly in 2023 and 2024 respectively, long after SSNIT’s advertised deadline of 23rd March 2022.”

    “The unimpeachable records also show that Rock City was fined an amount of GHS 4,390.00 by GRA as a penalty for filing the 2022 tax returns two years late, that is on May 23, 2024,” am excerpt of his petition said.

  • FLASHBACK: Farmers accuse Bryan Acheampong of destroying their farms to expand his hotel

    FLASHBACK: Farmers accuse Bryan Acheampong of destroying their farms to expand his hotel

    In September 2023, the Minister for Food and Agriculture, Bryan Acheampong was accused by some farmers in Obo-Kwahu of abusing his power by forcefully encroaching on their farm lands.

    In a viral video shared on social media, the farmers numbering three called on the president and government to call the minister to order over his conduct which they stated is disgraceful to the government.

    “This is the place that this old woman who is the mother of Obo Ankobiahene farms, an old woman who has toiled to plant cassava, pepper, garden eggs and other plants.

    “The minister of agric appointed by the president who also doubles as the owner of Rock City is now causing destruction to people’s farms. Come and see, he has destroyed cassava, cocoa and palm trees on the farm,” the woman flanked by an old woman and old man lamented.

    She further stated that the destruction caused by the minister who is taking over their farmlands is posing a direct threat to her livelihood as a widow with six children who depends on the farm to fend for her family.

    “As I stand here, I am a widow with six children and without a husband, I feed from this farm. I harvest cassava from this farm for the children to sell before we are able to afford fish to cook fufu. He has ploughed over all the plants. I stand here on an empty stomach and very hungry…

    “Mr President, he is disgracing you. He claims his government is in power and thus has no regard for any human being.

    “Come and see what he is doing on the land belonging to Obo Ankobiahene. Nana Addo rise up, Bawumia rise up, members of the opposition and ministers should rise up against his actions,” she stated.

    As seen in the video, which has resurfaced, an entire stretch of land was bulldozed.

    In the same month, Bryan Acheampong denied allegations that he destroyed the farms of some poor farmers in Kwahu, in the Eastern Region.

    In a press statement released on Saturday, September 23, 2023, Acheampong said the allegations were “malicious, wicked, and staged to tarnish my image.”

    “My attention has been drawn to a video making the rounds on social media and on some news portals alleging that I have destroyed the farms of some poor farmers, ostensibly to appropriate their land.

    “The said video is malicious, wicked, and staged to tarnish my image as a Member of Parliament, Minister of State, and well-known entrepreneur with an interest in the hospitality industry,” he said.

    He explained that his office lobbied for the construction of two bypass roads in Nkwatia Kwahu, one to Asakraka (5 km) and another to Bepong (3.4 km). These roads are designed to alleviate traffic congestion and offer an alternative route for travellers.

    However, the construction of these roads inevitably affected some farmers, Acheampong said. He assured that all affected farmers will be duly compensated, following established protocols for road projects of this nature.

    Acheampong stated that the project cannot and should not be construed as a road project to benefit his personal or business interests, urging the public to disregard the allegations raised against him in the video.

    He assured that the bypass road project when completed will benefit the entire community.

    Presently, TIGPost can not confirm whether the victims have been compensated.

    In recent times, the Minister has come under fire over the plan to sell a 60% stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, a venture owned by Bryan Acheampong.

    Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, is spearheading the #Don’tselloffourhotels campaign to prevent Bryan Acheampong from getting hold on state assets.

    Mr Ablakwa the sale reflects a conflict of interest as Mr Acheampong is a Cabinet Minister who sits with government in taking decisions on the running of the country and state assets.

    Mr Acheampong has however denied all these and believes there is nothing shady in the sale of the SSNIT hotels to him.

  • Bryan Acheampong must be appointed as CEO of SSNIT hotels if found competent – Abraham Koomson

    Bryan Acheampong must be appointed as CEO of SSNIT hotels if found competent – Abraham Koomson

    Secretary General of the Ghana Federation of Labour, Abraham Koomson, has strongly criticized the proposal to sell a 60% stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, owned by Minister of Food and Agriculture, Bryan Acheampong.

    Speaking on Joy FM’s Newsfile, Mr Koomson suggested that rather than selling these profitable state assets to Mr Acheampong, the government should consider appointing him to manage the hotels if he is found competent.

    “Why do you sell national assets? Why should we sell such hotels in these prime areas? For what? For how much?” he quizzed in anger.

    “If Bryan Acheampong has the capacity to run and operate the SSNIT hotels, why don’t we employ him? Instead of selling the hotels to him, he should be appointed as CEO to run the hotels for us,” he said on Saturday.

    Mr Koomson emphasized SSNIT’s financial stability, highlighting that the institution consistently receives contributions and does not face capital shortages.

    “SSNIT can’t complain about money because every month they need not go anywhere to go and look for a loan or whatever, the inflow from the contributions just comes in. If you are an employer and you default payment, you’d be in trouble. So SSNIT cannot complain of capital,” he argued.

    The labor leader stressed the ownership of SSNIT by workers, noting that the government does not contribute to the fund. He called for amendments to the National Pensions Act to safeguard workers’ assets.

    In an earlier interview with Joy News, Mr Abraham Koomson accused the Trade Union Congress (TUC) leadership of neglecting members’ interests and expressed reluctance to join them in meeting President Akufo-Addo to discuss this issue and other labor concerns.

    “I will not join them to meet the President because I suspect them,” he told Evans Mensah on PM Express.

    Despite SSNIT’s denial of any impropriety, TUC maintained that the sale must be halted for broader consultations.

    In May, Samuel Okudzeto Ablakwa, MP for North Tongu, exposed the deal and raised concerns about SSNIT selling 60% of its stake in the hotels to a government minister.

    Despite a petition to the Commission on Human Rights and Administrative Justice (CHRAJ) urging the president to halt the sale, the Ghana Federation of Labour alleges that SSNIT continues negotiations to sell its stake in Labadi Beach Hotel, La Palm Beach Hotel, Royal Ridge Hotel, and Busua Beach Hotel to Bryan Acheampong’s Rock City Hotel.

    Alongside his petition to CHRAJ for an investigation into the transaction, Mr. Ablakwa led a protest against the sale, gathering various stakeholders to petition the presidency to intervene and prevent the sale.

  • Employ Bryan Acheampong as SSNIT CEO to run hotels if you think he is capable – Gov’t told

    Employ Bryan Acheampong as SSNIT CEO to run hotels if you think he is capable – Gov’t told

    The Secretary General of the Ghana Federation of Labour, Abraham Koomson, has strongly condemned the plan to sell a 60% stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, a venture owned by the Food and Agriculture Minister, Bryan Acheampong.

    Mr Koomson expressed his concerns during an appearance on Joy FM’s Newsfile, suggesting an alternative approach to the sale.

    He argued that instead of selling these valuable state assets to Acheampong, the government should consider appointing him to manage the hotels if he is deemed capable.

    “Why do you sell national assets? Why should we sell such hotels in these prime areas? For what? For how much?” he questioned passionately.

    He proposed, “If Bryan Acheampong has the capacity to run and operate the SSNIT hotels, why don’t we employ him? Instead of selling the hotels to him, he should be appointed as CEO to run the hotels for us.”

    Emphasizing the financial stability of SSNIT, Koomson pointed out that the institution receives a steady flow of contributions and does not face capital shortages.

    “SSNIT can’t complain about money because every month they need not go anywhere to go and look for a loan or whatever, the inflow from the contributions just comes in. If you are an employer and you default payment, you’d be in trouble. So SSNIT cannot complain of capital,” he argued.

    Koomson also highlighted that SSNIT is funded by workers’ contributions and not by the government. He called for amendments to the National Pensions Act to protect workers’ assets.

    In a previous interview with Joy News, Mr Koomson accused the leadership of the Trade Union Congress (TUC) of neglecting their members’ interests and vowed not to join them in meetings with President Akufo-Addo to discuss this and other labour concerns.

    “I will not join them to meet the President because I suspect them,” he said on PM Express.

    Despite SSNIT’s denial of any wrongdoing, the TUC has insisted that the sale must be cancelled to allow for broader consultations.

    In May, North Tongu MP Samuel Okudzeto Ablakwa raised alarms about the deal, questioning the rationale behind SSNIT’s decision to sell a majority stake in the hotels to a sitting minister. Ablakwa has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the transaction and has led protests against the sale, attracting various stakeholders and petitioning the presidency to intervene.

    The hotels in question include Labadi Beach Hotel, La Palm Beach Hotel, Royal Ridge Hotel, and Busua Beach Hotel. Despite the controversy and opposition, the Ghana Federation of Labour alleges that SSNIT is proceeding with negotiations to sell its stake in these hotels to Rock City Hotel, owned by Minister Bryan Acheampong.

  • NDC MP breaks rank on SSNIT hotel scandal

    NDC MP breaks rank on SSNIT hotel scandal

    National Democratic Congress (NDC) Member of Parliament for Twifo Atti Morkwa, David Vondee, has come to the defense of embattled Agriculture Minister Bryan Acheampong.

    The minister has faced widespread criticism for the planned acquisition of a major stake in several hotels owned by the state-run pensions organization, SSNIT.

    Samuel Okudzeto Ablakwa, NDC MP for North Tongu, has led the charge, accusing Acheampong of a conflict of interest through his Rock City Hotel company, which is seeking to buy the SSNIT shares.

    While Ablakwa and the Minority Caucus in parliament are calling for the deal to be canceled, the Twifo Atti Morkwa MP argues that their focus is misplaced. He believes the NDC and other critics should target SSNIT, the entity selling the state asset, and not businessman Bryan Acheampong.

    “I am very differing on the Bryan issue. Bryan is my friend so I talk about it differently. If you are selling something and I seek to buy it legally, under normal circumstances, I will buy it.

    “So why is SSNIT that is seeking to sell our property being excused? And I don’t know how the NDC will understand me. Why is SSNIT being left off the hook and Bryan is being attacked frontally?

    “By all standards, Bryan is a businessman, I am a businessman, if you think you don’t want to sell the hotels, stop the deal. The fact is that it is not good for the young man’s business,” he submitted on Accra-based Asempa FM on June 19.

  • We are floating shares, not selling hotels – Govt clarifies sale of SSNIT hotels

    We are floating shares, not selling hotels – Govt clarifies sale of SSNIT hotels

    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.

  • There’s no conflict of interest in SSNIT’s bidding process for hotels – Ahiagbah

    There’s no conflict of interest in SSNIT’s bidding process for hotels – Ahiagbah

    The New Patriotic Party’s (NPP) Director of Communications, Richard Ahiagbah, has argued against accusations of conflict of interest in the sale of a 60 percent stake in four SSNIT-owned hotels to Rock City Hotel, owned by Minister Bryan Acheampong.

    Ahiagbah pointed out that the process to sell SSNIT’s shares began in 2018, well before Acheampong became a minister.

    He questioned why concerns about the procurement process were not raised earlier and suggested they only surfaced due to Acheampong’s cabinet role.

    “The question of conflict of interest for me does not arise because the process to offload SSNIT’s interests in these hotels started in 2018, 5 years before Hon. Bryan Acheampong became the Minister for Food and Agriculture. Again, the question must be asked: Had SSNIT terminated the procurement process to divest its shares to Rock City between 2019 and 2023 before Bryan Acheampong became a minister, would there have been any concerns or issues of conflict of interest?

    “If there would not have been a conflict of interest concerns had Rock City bought SSNIT’s share before Bryan Acheampong became a minister, why is it a concern now?”

    Ahiagbah further stated that if the sale had concluded before Acheampong’s ministerial appointment, conflict of interest would likely not be an issue.

    Ahiagbah also criticized Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, for orchestrating the ‘Hands off our Hotels’ demonstration aimed at pressuring President Nana Addo Dankwa Akufo-Addo to stop the transaction.

    Ahiagbah emphasized his willingness to participate in demonstrations backed by concrete evidence of biased bidding before Acheampong’s ministry.

    “He insists the demonstration lacks evidence to the effect that Rock City did not win the bid competitively or that other bidders submitted superior bids compared to Rock City.”

    “I am open to joining any demonstration that provides concrete evidence that the bidding process, initiated in 2018 before Bryan Acheampong assumed his ministerial role, was biased in favour of Rock City. Or a demonstration that proves that Rock City did not win the bid competitively or that other bidders submitted superior bids compared to Rock City.”

  • SSNIT is going all out to sell hotels amid CHRAJ petition – Ghana Federation of Labour

    SSNIT is going all out to sell hotels amid CHRAJ petition – Ghana Federation of Labour

    The Ghana Federation of Labour has reported that the Social Security and National Insurance Trust (SSNIT) is continuing discussions to sell its stake in four hotels to Rock City Hotel, owned by the Minister of Agriculture, Bryan Acheampong, despite an ongoing petition before the Commission on Human Rights and Administrative Justice (CHRAJ).

    This development was revealed shortly after the Minority in Parliament, led by North Tongu MP Samuel Okudzeto Ablakwa, and representatives of organized labour staged a protest urging the government to halt the transaction.

    In an interview with JoyNews, Secretary General of the Ghana Federation of Labour, Abraham Koomson, expressed his dismay at SSNIT’s persistence.

    “They have not stopped it. You know how things work in this country. For CHRAJ, how soon will they finish this? CHRAJ cannot injure the process, I don’t think they can do that. They don’t have that authority to injunct the process so they will still go ahead and do what they want to do.”

    Koomson added that the Federation would boycott an upcoming meeting with the President to show their displeasure.

    “We are going to meet and discuss what? What we are saying is that stop the process. They should not continue, they should wait or stop it. That is all. We are going to meet him so he tells us what? I will not be part of it. I won’t go there. I won’t go.

    “I don’t know what I am going there to discuss. It is as simple as telling the Employment Minister that ‘look, make sure this whole process is stopped’,” he stressed.

    In May, Samuel Okudzeto Ablakwa exposed the deal, questioning why SSNIT would sell 60% of its stake in the hotels to a minister. While some government officials and citizens defended Acheampong, arguing he could revitalize the hotels, Ablakwa remained skeptical.

    Ablakwa emphasized the lack of evidence supporting Acheampong’s ability to enhance the performance of the state-owned hotels, some of which are already profitable. He further criticized Acheampong for not using his expertise for the public good while serving as a cabinet minister.

    “… If you have such great ideas to transform hotels, Bryan Acheampong sits in Cabinet. Why do we send people to Cabinet? Under the constitution, Cabinet is a place where you brainstorm and bring your expertise and know-how to bear. So why will you only bring your expertise to bear when it is your private property when you have bought it, when you have annexed it and it is within your private domain?

    “Is that the only time you will bring that expertise to bear? Is that not unpatriotic? Is that not callousness?” he questioned.

    He continued, “That is not being nationalistic. Why then are we paying you as a cabinet minister? It means we shouldn’t pay you, you shouldn’t be in Cabinet. This is the height of wickedness,” he noted.

  • Your petition against sale of SSNIT hotels will be acted on by Akufo-Addo – Presidency

    Your petition against sale of SSNIT hotels will be acted on by Akufo-Addo – Presidency

    The Office of the President has assured that President Akufo-Addo will review and respond to the petition submitted by the “Hands Off Our Hotels” protesters, who are opposing the sale of 60 percent shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, a company owned by the Minister of Food and Agriculture, Bryan Acheampong.

    The protest, led by North Tongu MP Samuel Okudzeto Ablakwa, culminated in the submission of the petition at the Jubilee House on Tuesday, June 18. Deputy Chief of Staff Emmanuel Adumuah Bossman, who received the petition on behalf of the President, expressed the administration’s commitment to considering the protesters’ concerns.

    “We are delighted to receive the petition because it is part of the exercise of our democratic rights guaranteed under Chapter 5 of our constitution. We are also grateful that this procession and demonstration have taken place without any negative outcomes,” Bossman stated.

    “I will submit the petition to the President, and I can assure you that it will be looked into, and appropriate measures will be taken as and when deemed fit.”

    During the protest, Mr Ablakwa called on President Akufo-Addo to halt the sale of the SSNIT hotels, arguing that the transaction was not in the country’s best interest.

    He urged the President to ensure that profitable state assets are not sold and that workers’ properties are not disposed of without their consent.

    Mr Ablakwa also demanded that ministers and politically exposed persons be prevented from purchasing state assets, highlighting the need to stop the Blay family’s alleged illegal encroachment on Labadi Hotel’s beachfront.

    Mr Ablakwa passionately addressed the crowd, emphasizing the protesters’ determination to protect state assets from being sold to politicians.

    “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,” he declared.

    “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. Rest assured, we are confident these hotels will not be sold.”

    The protest saw tensions escalate when police used pepper spray and tear gas to disperse the demonstrators, resulting in several injuries.

    Mr Ablakwa confirmed to the media that some injured protesters had been transported to health facilities for treatment. He noted that some individuals collapsed after being pepper-sprayed without provocation and assured that he would visit the victims at the hospitals they had been admitted to.

    As the nation awaits President Akufo-Addo’s response, the “Hands Off Our Hotels” movement remains steadfast in its commitment to preventing the sale of SSNIT assets, asserting that the public must be consulted before any such transactions occur.

  • NPP will soon release 300 state-owned companies sold to persons now criticizing sale of SSNIT-owned hotels – Deputy Info. Minister

    NPP will soon release 300 state-owned companies sold to persons now criticizing sale of SSNIT-owned hotels – Deputy Info. Minister

    The Deputy Minister for Information has announced that the NPP will soon release a list of 300 state-owned companies sold to individuals who are now criticizing the sale of SSNIT-owned hotel shares to Rock City Hotel Limited, owned by the Minister for Food and Agriculture, Bryan Acheampong.

    Sylvester Tetteh made this announcement while condemning the June 18, 2024 ‘Hands Off Our Hotels Demonstration’ led by North Tongu MP Samuel Okudzeto Ablakwa, which protested the sale of the Social Security and National Insurance Trust shares. He stated that the list would be published in the coming weeks.

    Speaking on Tuesday’s edition of Good Morning Ghana, the deputy minister asserted that the demonstration and the concerns over the hotel sales are being used by Ablakwa and the NDC to score political points.

    “For me, I think that where we are today, yes it is true that we must speak up, we must stand up for matters that we are not happy about, but due process must also be followed. So, I think that hitting the street to find political gain and political advantage of it is not the right approach.

    “We, in the subsequent weeks, will begin to update Ghanaians on how 300 companies ended up with some individuals, and today they are pontificating more righteously than the Pope himself. Stay tuned,” he said.

    He said that some of the people who are not talking about the sale of the SSNIT hotels and accusing the ruling New Patriotic Party (NPP) of state capture were quiet when properties of the state were being sold to bigwigs of the opposition National Democratic Congress (NDC) when they were in power.

    He began his statement by sharing a brief of state-owned properties sold to NDC members, including properties of the Ghana National Trading Corporation (GNTC) and the Ambassador Hotel.

    “But the people who have suddenly found their voices against the sale of state assets, I believe that they should have questioned how GNTC Bakeries at La, GNTC Bakeries at Kumasi, GNTC Bakeries at Takoradi, GNTC Supermarket Dansoman, GNTC Supermarket Kanda, GNTC Supermarket at Ringway were sold.

    “How the Kumasi Catering Rest House was sold, how the Ambassador Hotel was sold, and the beneficiaries of all these properties over a period of time and how ownership has changed over a period of time. And some of them who are still within the NDC are still holding on to these properties,” he said.

  • Ablakwa presents petition to Akufo-Addo over sale of SSNIT hotels

    Ablakwa presents petition to Akufo-Addo over sale of SSNIT hotels

    North Tongu MP Samuel Okudzeto Ablakwa has successfully petitioned President Akufo-Addo over the sale of Social Security and National Insurance Trust (SSNIT) hotels to Ghana’s Minister of Agriculture, Bryan Acheampong.

    On Tuesday, June 18, representatives of the President received the petition on behalf of Nana Akufo-Addo at the Jubilee House.

    Reading out the petition, Mr Ablakwa asked the president to halt the sale of the hotels as it was not in the interest of the country. He also called on the president to investigate government officials who deliberately sabotage state institutions in order for politicians to acquire them.

    He believes sanctioning and relieving such individuals of their positions will serve as deterrent to others.

    Meanwhile, several individuals who partook in today’s protest have been hospitalised.

    The protest, organized by North Tongu MP Samuel Okudzeto Ablakwa, saw tensions escalate when police used pepper spray and tear gas to disperse the demonstrators.

    Speaking to the media, Mr. Ablakwa confirmed that some of the injured protesters have been transported to a health facility for treatment.

    According to him, some protestors collapsed after being pepper sprayed without provocation. He was not able to indicate the exact hospitals they were sent to. He however noted that he will engage his team and visit the victims at the health centres they have been admitted to

    The demonstration aimed to halt the sale of four SSNIT hotels to Rock City Hotel Limited, a company owned by Bryan Acheampong.

    In a fervent address, Mr. Ablakwa expressed his determination to prevent the sale. “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,” he said.

    “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.”

    He further emphasized, “Rest assured, we are confident these hotels will not be sold.”

  • #HandsOffOurHotel protestors rushed to the hospital after Police fired tear gas – Ablakwa

    #HandsOffOurHotel protestors rushed to the hospital after Police fired tear gas – Ablakwa

    North Tongu MP Samuel Okudzeto Ablakwa has disclosed that some individuals who thronged the streets of Accra to protest the sale of Social Security and National Insurance Trust (SSNIT) hotels to Ghana’s Minister of Agriculture, Bryan Acheampong, have been hospitalised.

    Tensions escalated earlier today as police deployed pepper spray and tear gas to disperse demonstrators protesting.

    Engaging the media, Mr Ablakwa noted that some of the victims have been transported to a health facility for treatment.

    According to him, some protestors collapsed after being pepper sprayed without provocation. He was not able to indicate the exact hospitals they were sent to. He however noted that he will engage his team and visit the victims at the health centres they have been admitted to.

    The protest, organized by North Tongu MP Samuel Okudzeto Ablakwa, aims to halt the sale of four SSNIT hotels to Rock City Hotel Limited, owned by Ghana’s Minister of Agriculture, Bryan Acheampong.

    Meanwhile, Mr 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.”

  • La Wulomo joins demonstration against the sale of SSNIT hotels

    La Wulomo joins demonstration against the sale of SSNIT hotels

    The ongoing demonstration against the sale of four Social Security and National Insurance Trust (SSNIT) hotels has taken a spiritual turn, with the La Wulomo, Nuumo Yemoh Obroni VIII, and several Ga traditional authorities joining the protest.

    Led by Samuel Okudzeto Ablakwa, the National Democratic Congress (NDC) Member of Parliament for North Tongu, the demonstration aims to compel President Nana Addo Dankwa Akufo-Addo to prevent the sale of these hotels to Rock City Hotel Limited, owned by Ghana’s Minister of Agriculture, Bryan Acheampong.

    During the early stages of the protest, the La Wulomo performed a traditional libation ceremony. An interpreter at the scene reported that the Ga Wulomo invoked curses on government officials involved in the alleged illegal conversion of state facilities and resources.

    Ablakwa, addressing the media, reiterated the protesters’ determination: “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.”

    He also stated confidently, “Rest assured, we are confident these hotels will not be sold.”

    The protest, which began today, Tuesday, June 18, has attracted hundreds of Ghanaians, demonstrating the widespread opposition to the sale.

  • LIVESTREAMING: Demo against sale of SSNIT hotels kicks off

    LIVESTREAMING: Demo against sale of SSNIT hotels kicks off

    Samuel Okudzeto Ablakwa, the National Democratic Congress (NDC) Member of Parliament for North Tongu, is leading a demonstration 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.

    The demonstration happening today, Tuesday, June 18, with the aim of compelling the president to prevent the sale of these hotels.

    Mr. Ablakwa confirmed during a news conference at the press centre on Monday, June 17, that all arrangements for the demonstration are complete. He emphasized the peaceful nature of the protest and warned that individuals attempting to incite chaos would be dealt with by the Ghana Police Service.

    He also mentioned that he anticipates officials from the presidency will meet the demonstrators and receive their petition for submission to the president. The demonstration is seen as crucial in ensuring that the sale does not proceed, with Mr. Ablakwa highlighting the urgency and significance of their cause.

  • Ablakwa’s demo against sale of SSNIT hotels takes place on Tuesday

    Ablakwa’s demo against sale of SSNIT hotels takes place on Tuesday

    Samuel Okudzeto Ablakwa, the National Democratic Congress (NDC) Member of Parliament for North Tongu, is set to lead a demonstration 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.

    The demonstration is scheduled to take place on Tuesday, June 18, with the aim of compelling the president to prevent the sale of these hotels.

    Mr. Ablakwa confirmed during a news conference at the press center on Monday, June 17, that all arrangements for the demonstration are complete. He emphasized the peaceful nature of the protest and warned that individuals attempting to incite chaos would be dealt with by the Ghana Police Service.

    He also mentioned that he anticipates officials from the presidency will meet the demonstrators and receive their petition for submission to the president. The demonstration is seen as crucial in ensuring that the sale does not proceed, with Mr. Ablakwa highlighting the urgency and significance of their cause.

    “We have agreed with the police on the condition that the representatives of President Nana Addo Dankwa Akufo-Addo will walk from the Jubilee House and meet us at the Christ the King Catholic Church to receive our petition,” Mr. Ablakwa stated.

    He has already petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the transaction. However, he feels compelled to take this additional step because, despite widespread opposition, information he has obtained indicates that the process to finalize the deal is still ongoing. He expressed concern that the deal could be completed before the Commission concludes its inquiry and believes it is necessary to exert extra pressure on SSNIT to halt the transaction.

  • Busy Internet owed employees over GHS3m in SSNIT payments but received gov’t contract – The Fourth Estate

    Busy Internet owed employees over GHS3m in SSNIT payments but received gov’t contract – The Fourth Estate

    One of the requirements for winning a government contract was that, a company must have a SSNIT clearance certificate. Busy Internet did not have this because it owed its employees over GHS3 million in SSNIT payments between December 2018 and 2022.

    In 2018, Busy Internet was a company in severe distress. As an internet service provider struggling against industry giants, it faced dwindling revenue, increasing liabilities, and growing staff discontent.

    Adding to its troubles, the company owed millions of cedis in unpaid taxes and social security contributions.

    It seemed imminent that the company might shut down. At this critical juncture, staff were informed that Busy Internet had been acquired by Aguila Holdings.

    A few weeks later, they were further astonished and delighted to learn that Busy Internet had secured a major government contract to supply Wi-Fi services to secondary schools and Ghana Education Service offices nationwide.

    This contract was particularly surprising because Busy Internet should not have been eligible to bid. With its significant tax liabilities and unpaid social security contributions, the company lacked the necessary tax and Social Security and National Insurance Trust (SSNIT) clearance certificates, mandatory for bidding on government contracts.

    Despite these clear disqualifications, Busy Internet secured the multi-million government contract through a sole-sourcing arrangement.

    A former staff member of Busy Internet, intimately familiar with the contract but requesting anonymity, stated, “What I know for sure is that during that time we did not have a SSNIT clearance certificate nor a GRA tax clearance certificate,” to The Fourth Estate.

    Moreover, Busy Internet was not registered with the Public Procurement Authority (PPA) as a supplier, contrary to PPA procurement rules, as confirmed by searches on the PPA website.

    The five-year contract was awarded without the required parliamentary approval under Ghana’s Public Financial Management Act.

    “It was good news,” says a former employee of Busy Internet who wishes to remain anonymous for fear of victimisation. “At the end, we were all of this conviction that the MOE [Wi-Fi] contract was going to end the woes of Busy Internet. We were sinking as a company and salaries were not being paid.”

    The parent company of Busy Internet and Lifted Logistics, CEO of Aguila Holdings, Horpe Omotayo-Ojo, assured staff that their jobs were secure and efforts would be made to pay off Busy Internet’s debts and restore profitability. However, these promises were unfulfilled, and many employees were laid off as the company began installing internet connectivity devices in senior high schools across the country.

    Despite being considered more suitable than industry leaders like MTN, which had just been licensed to provide 4G internet services, and Surfline Ghana Limited, another 4G internet service provider, Busy Internet secured the contract.

    The Free Senior High School Coordinator, William Darkwa, explained that the major players were not interested due to concerns about delayed government payments.

    Screenshot

    After securing the contract, Busy Internet subcontracted MTN Ghana and AirtelTigo to provide the services it had agreed to supply. Initially, the Wi-Fi system worked, and some schools had internet access. However, connectivity issues soon arose. The Fourth Estate found that out of 50 schools visited in 2023, 48 had been without internet for several months. Complaints to Busy Internet’s customer service were largely unaddressed, leaving schools frustrated and angry.

    The investigation revealed that Busy Internet, despite being unqualified, was awarded a major government contract through sole-sourcing. The initial contract cost between Busy Internet and the Ministry of Education was GHS84.4 million, with the Ministry also obligated to pay a monthly recurrent cost of GHS6.4 million for internet connectivity to schools and educational offices.

    The Wi-Fi for schools project fulfilled a 2016 manifesto promise by the governing New Patriotic Party to provide free Wi-Fi for senior secondary and tertiary institutions nationwide. As of February 2024, over 1,000 institutions were connected to the internet under this contract.

    The Fourth Estate’s investigation revealed that internet services to these schools and offices were unreliable, with many lacking internet for months, while the Ministry of Education paid GHS56 million for services barely provided.

    In May 2023, the PPA approved a name change from Busy Internet to Lifted Logistics Ghana, although Lifted Logistics was not a licensed internet service provider at the time. The PPA also approved an increase in the monthly recurring cost from GHS6.5 million to GHS11.5 million, nearly doubling the government’s cost for a poorly delivered service.

    “If it is a joint venture and there is a new entity borne out of this joint venture, you need to have the mandatory requirements,” Mr Sarpong said. “There is a clause that if you are subcontracting any portion of this contract, you need to inform the principal so that due diligence is done on the subcontractor to check if everything of theirs is good.”

    Former employees raised concerns about the transfer of Busy Internet’s license to another entity, but the NCA confirmed in March 2023 that Busy Internet’s license had not been transferred or reassigned. Procurement Consultant Collins Agyemang Sarpong noted that sub-contracting to an unregistered internet service provider raised further questions about the arrangement’s legitimacy.

    The Fourth Estate contacted the PPA for clarification on approving a multi-million contract for an unqualified company and the subsequent increase in monthly costs but received no response.

  • SSNIT’s future is safe despite ILO findings – NPRA CEO

    SSNIT’s future is safe despite ILO findings – NPRA CEO

    The Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), John Kwaning Mbroh, has urged contributors to remain calm despite concerning projections from a recent International Labour Organisation (ILO) report on the Social Security and National Insurance Trust (SSNIT).

    According to the CEO, the Trust is secure and will continue to be so for many years.

    Kwaning Mbroh clarified that the ILO report’s projection is not a certainty; instead, it aims to forecast future scenarios to enable stakeholders to take proactive measures to ensure the scheme’s sustainability.

    “The report is forward-looking. ILO has always projected potential outcomes if certain actions are not taken. This means we need to continue improving to ensure the financial sustainability of the scheme over the long term,” he said.

    To reassure contributors of the safety of their contributions, Kwaning Mbroh mentioned measures already implemented to safeguard the scheme’s financial health.

    These include reducing administrative expenses and implementing an investment policy to guide how SSNIT invests contributions.

    “They review the current investment asset classes to ensure they are economically viable and inject life into the scheme. This is crucial. Additionally, they have worked on rationalizing administrative expenses and other expenditures. Trust me, they have made significant efforts in this area,” the NPRA CEO said.

  • SSNIT’s agreement to sell 4 hotels to Rock City below its valuation

    SSNIT’s agreement to sell 4 hotels to Rock City below its valuation

    North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has released additional documents to support his argument that the proposed sale of four state-owned hotels to a current cabinet minister was unfavorable.

    Ablakwa, in his latest statement regarding the matter, shared an internal memorandum exchanged between the state-owned pension organization, SSNIT, and Rock City Hotels Limited, owned by Agriculture Minister Bryan Acheampong.

    The document titled “SSNIT-ROCK CITY GROUP SALE OF STAKE IN SSNIT HOTELS NEGOTIATION” gave an agreed position of sale for each of the hotels in question – i.e. Labadi Beach Hotel, La Palm Royal, Ridge Royal and Elmina Beach Resort.

    According to SSNIT’s assessment, the total value of the four hotels amounted to more than US$121 million, whereas Rock City’s proposal was for US$61.2 million.

    In an extensive post discussing the transaction shared on various social media channels on June 3rd, Ablakwa stated:

    “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) ranges 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 highlighted the considerable losses SSNIT would incur if they proceeded to accept the Rock City proposal.

    Ablakwa was the initial individual to disclose the intended sale of SSNIT’s shares in the mentioned hotels and has subsequently presented evidence to demonstrate that the agreement was detrimental to the state’s interests and, in particular, to pensioners.

    Additionally, he has lodged a complaint with CHRAJ to investigate potential conflicts of interest regarding the minister’s involvement with Rock City and his dual roles as a minister and Member of Parliament.

    Read Ablakwa’s full post below:

    Intercepted memos from SSNIT on Hon. Bryan Acheampong’s Rock City offer for the purchase of SSNIT’s hotels confirm that but for my timely intervention in exposing the deal, Ghanaian workers would have been terribly shortchanged as the transaction does not guarantee value for money.

    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) ranges 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.

    Considering that SSNIT’s own minimum value based on expert advice was pegged at US$80,406,630.00, the Hon. Bryan Acheampong/Rock City offer did not meet this minimum threshold by as much as US$19,206,630.00.

    When compared to the upper limit, Hon. Bryan Acheampong’s offer fell short by a staggering US$60,115,643.00

    It is instructive to discover that whereas SSNIT’s minimum offer for La Palm Royal Hotel is US$37,897,200.00, Hon. Bryan Acheampong merely offered US$21,000,000.00 (a significant variance of US$16,897,200.00).

    In the case of Elmina Beach Resort, SSNIT was advised to go for a minimum of US$4,709,430.00, however, Hon. Bryan Acheampong offered a paltry US$2,400,000.00.

    Analysts are fascinated by how the Hon. Bryan Acheampong/Rock City bids for Labadi Beach Hotel and Ridge Royal were exactly the same figures for SSNIT’s minimum expectations, raising suspicions about possible insider dealings and a rigged process.

    These intercepted memos once again expose the deceptive and bogus claims by unpatriotic NPP propagandists and their surrogates that Hon. Bryan Acheampong offered a fair price and that his bid is the best for Ghana.

    The clearest indication yet that these hotels were just being opaquely packaged for cheap on the blind side of Ghanaians to satisfy an obscene state capture agenda.

    Our agitations must continue unabated, ahead of the June 18 demonstration, since President Akufo-Addo contemptuously refuses to instruct his marauding appointees to take their hands off our hotels.

    We shall not be silent and lose these strategic national assets like the way we were taken by surprise with Mr. Kwaw Worsemao Blay now claiming to own the Labadi Hotel beachfront.

    I shall be back with more.

  • Top NPP figures planning to take full control of Labadi Beach Hotel – Ablakwa reveals

    Top NPP figures planning to take full control of Labadi Beach Hotel – Ablakwa reveals

    Explosive court documents obtained by Samuel Okudzeto Ablakwa reveal an alleged scheme by prominent figures associated with the ruling New Patriotic Party (NPP) to seize control of the Social Security and National Insurance Trust’s (SSNIT) highly profitable Labadi Beach Hotel.

    The documents suggest a grand plan to capture state assets, with the beachfront property at the center of the controversy.

    According to Ablakwa, the revelations go beyond the involvement of Bryan Acheampong, a known NPP associate. The documents implicate Kwaw Worsemao Blay, son of former NPP National Chairman Freddy Worsemao Blay, who now claims ownership of the beachfront traditionally managed by Labadi Beach Hotel.

    Labadi Beach Hotel has thus become the only beachfront hotel in the world without exclusive control over its entire beachfront. Ablakwa highlights the helplessness of the hotel’s board and management, who appear unable to combat the encroachment by politically powerful individuals.

    The situation came to light through a lawsuit filed at the Accra High Court (Commercial Division) by Mr. Loic Devos Junior, a business partner of Kwaw Worsemao Blay. Devos alleges that Blay cheated him out of their joint business, Gold Coast Expo Limited, which they established to organize the Polo Beach Club events at Labadi Beach.

    Court documents (Suit Number: CM/MISC/0302/2023) detail Devos’s accusations of breach of joint venture agreement, misappropriation of funds, and exclusion of Labadi Beach Hotel from revenue streams. Devos claims Blay unilaterally took over the beachfront, bypassed agreed entry points, and funneled profits through his own company, Press Xpress Limited.

    Internal protests from Labadi Beach Hotel’s board led to an inquiry and the eventual dismissal of the hotel’s former Managing Director, Rene Vincent-Ernst, who was accused of conspiring with Blay. Vincent-Ernst’s attempt to resign amid the investigation was rejected, and he has since filed a lawsuit challenging his dismissal and seeking outstanding entitlements.

    Devos’s legal action seeks to restrain Blay from conducting Polo Beach Club events and misappropriating company assets. The court battle continues, with Devos demanding accountability and the cessation of Blay’s self-appointed management of Gold Coast Expo Limited.

    Despite efforts by the hotel’s board to reclaim control, Blay has constructed permanent structures on the encroached beachfront and retains full possession, refusing to share revenues with Labadi Beach Hotel. Guests have complained about the obstruction of views and disturbances caused by Blay’s activities, yet the management remains powerless.

    Ablakwa condemns the SSNIT and Labadi Beach Hotel boards for their inaction, accusing them of enabling the NPP’s alleged state capture agenda. He calls for President Akufo-Addo to intervene and halt the NPP’s aggressive acquisitions.

    The North Tongu MP is also advancing a Private Member’s Bill to ban the sale of state assets to politicians and politically exposed persons, signaling his commitment to protecting public resources.

  • Don’t you dare sell our hotels to Bryan Acheampong’ – CLOGSAG to SSNIT

    Don’t you dare sell our hotels to Bryan Acheampong’ – CLOGSAG to SSNIT

    Executive Secretary of the Civil and Local Government Staff Association of Ghana (CLOGSAG), Isaac Bampoe Addo, has cautioned the Social Security and National Insurance Trust (SSNIT) against selling its stake in four hotels to Rock City, a company owned by Agriculture Minister Bryan Acheampong.

    After a meeting with the SSNIT Board on Thursday, May 30, Bampoe Addo expressed Organised Labour’s firm opposition to the deal, stating that they are “not convinced” about its integrity.

    “There are so many negatives in the transaction that we have pointed out to them,” he noted.

    “How can you go through a tender process and give specifications, and along the line, you change the specifications?” Mr. Bampoe Addo wondered.

    He said, “Our Procurement Act does not allow this. We have told them to cancel the deal.”

    “We will take control. This is our money. We will take control; SSNIT does not need to go ahead with the deal,” he insisted.

    “They dare not go ahead with the deal, and we have asked for a total restructuring of SSNIT,” he warned.

  • Labadi Beach Hotel made GHC158m profit in 2023, how can you sell this “cash cow”? – Ablakwa asks SSNIT

    Labadi Beach Hotel made GHC158m profit in 2023, how can you sell this “cash cow”? – Ablakwa asks SSNIT

    North Tongu MP, Samuel Okudzeto Ablakwa, has raised significant concerns about the planned sale of a stake in Labadi Beach Hotel to Rock City Hotel, owned by Agriculture Minister Bryan Acheampong.

    Mr Ablakwa asserts that the four-star Labadi Beach Hotel, which made a profit of GHC158 million in 2023, has sufficient resources to sustain its operations, making the sale unnecessary.

    In his evaluation of the hotel’s financial records, Ablakwa expressed confidence in Labadi Beach Hotel’s strong financial standing, suggesting it is in a better position than Rock City Hotel.

    “Labadi Beach Hotel is a cash cow and not a struggling hotel as government propagandists are claiming,” Ablakwa stated.

    Labadi Beach Hotel is among three hotels that the Social Security and National Insurance Trust (SSNIT) considered selling.

    Mr Ablakwa, who brought the deal to public attention, questioned why SSNIT would sell 60% of its stake in these profitable hotels to a minister. SSNIT has since clarified that the sale was opened to tender, and Rock City Hotel’s financial statements were the most favorable.

    Ablakwa further detailed the hotel’s robust financial health in a post on the X platform: “I have also intercepted the 2023 management account of Labadi Beach Hotel. The financials reveal that Labadi Beach Hotel has cash reserves in five bank accounts amounting to an impressive GHS54,855,795.00.”

    According to the 2022 Deloitte financial statement, Labadi Beach Hotel had a turnover of GHS120,438,655, which commendably increased to GHS188,076,649.00 in 2023. The hotel’s gross profit also more than doubled from GHS70,734,099.00 in 2022 to GHS158,490,448.00 in 2023.

    In addition to its profits, Labadi Beach Hotel has contributed significantly to the government’s revenue through taxes, paying GHS20,318,232 over the last five years. Ablakwa emphasized, “Anyone who takes over Labadi Beach Hotel alone can use its profitability to revamp all the hotels in SSNIT’s investment portfolio.”

    Ablakwa suggested that the all-Ghanaian management team of Labadi Beach Hotel should be considered to manage all of SSNIT’s hotels, given their demonstrated efficiency and success. He concluded by stating, “I am more convinced that this deal is not in our collective interest. Hands off our SSNIT hotels or get ready for our June 18 DEMO!”

    The planned sale has stirred a debate about the future of SSNIT’s investments and the strategic decisions surrounding profitable national assets.

  • Engage Organised Labour on SSNIT hotel dispute – Akufo-Addo orders Labour Minister

    Engage Organised Labour on SSNIT hotel dispute – Akufo-Addo orders Labour Minister

    President Akufo-Addo has taken significant steps to address the concerns raised by Organised Labour regarding the controversial sale of four hotels by the Social Security and National Insurance Trust (SSNIT) to Agric Minister Bryan Acheampong.

    Organised Labour petitioned the president to halt the sale of the hotels to Bryan Acheampong.

    In response, President Akufo-Addo has instructed Employment and Labour Relations Minister Ignatius Baffour Awuah to engage in discussions with labour leaders.

    The president’s aim is to find a mutually acceptable solution to the dispute, ensuring the interests of all stakeholders are considered.

    Dr. Yaw Baah, Secretary-General of the Trades Union Congress (TUC), confirmed the president’s directive during a media engagement.

    “We wrote to the president that we needed to engage him on this [sale of the SSNIT hotels]. He has referred it to the [Employment and Labour Relations] Minister to start the engagement with us. We are hoping that these engagements will help all of us to find a solution to what we think is a problem.

    “We are going to meet with the SSNIT Board. Organized labour leaders are going to meet with the SSNIT Board and also with the Employment and Labour Relations Minister who is also in charge of pensions.”

    Additionally, Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, who first publicized the sale, has petitioned the Commission for Human Rights and Administrative Justice (CHRAJ) to investigate the transaction.

  • Ablakwa implicates Hamdiya Ismaila in ‘shady’ sale of SSNIT hotels to Rock City

    Ablakwa implicates Hamdiya Ismaila in ‘shady’ sale of SSNIT hotels to Rock City

    In a recent post on X, Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has raised further concerns regarding the sale of hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, owned by the Minister for Food and Agriculture, Bryan Acheampong.

    Mr Ablakwa’s post highlighted the potential involvement of Hamdiya Ismaila, a Director of SEM Capital Advisors Ltd, in the transaction process.

    Mr Ablakwa questioned whether Ismaila, who previously served as General Manager at the Venture Capital Trust Fund, exerted undue influence during SEM Capital’s selection as Transaction Advisor in 2019, given her government position at the time.

    He also raised suspicions about the subsequent bid won by Rock City in 2022, suggesting a possible conflict of interest.

    He shared a letter from the Central Tender Review Committee in 2019, granting approval for SSNIT to engage SEM Capital as the recommended tenderer for consultancy services related to the divestiture of its hotels.

    Meanwhile, Mr Ablakwa’s petition to the Commission on Human Rights and Administrative Justice (CHRAJ) calls for an investigation into alleged conflict of interest, abuse of power, procurement breaches, and other irregularities surrounding the sale.

    SSNIT and Bryan Acheampong have denied any wrongdoing, asserting that Rock City submitted the best proposal for the acquisition of a 60% stake in the hotels.

    As the investigation unfolds, stakeholders await further developments to determine the outcome of the probe into the sale of SSNIT hotels to Rock City, amidst growing calls for accountability and adherence to due process.

  • Ablakwa readies to hit the streets against sale of SSNIT hotels to Bryan Acheampong

    Ablakwa readies to hit the streets against sale of SSNIT hotels to Bryan Acheampong

    National Democratic Congress (NDC) Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has announced plans to lead a public protest against the sale of hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel Limited, a company owned by Ghana’s Minister of Agriculture, Bryan Acheampong.

    The former Deputy Education Minister has already petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the transaction.

    However, Ablakwa has decided to escalate his actions due to information indicating that the deal is still progressing despite widespread opposition.

    Given CHRAJ’s typically thorough and lengthy investigative process, Ablakwa fears the deal might be finalized before the investigation concludes. Therefore, he believes it is essential to increase public pressure on SSNIT to halt the transaction.

    “We are ready to hit the streets, and we have notified the Ghana Police,” he stated on the Joy Super Morning Show on Monday.

    Mr Ablakwa also hinted that he’s working with some lawyers to draft a private member’s bill to stop the sale of state assets to politicians.

    “In the coming days, I shall be sponsoring a Private Member’s Bill in Parliament to expressly prevent politicians and politically exposed persons from participating directly or indirectly in the purchase of state assets.

    The objective will be to legally block all loopholes in the current legal regime which some politicians appear to be exploiting.

    “After 16 years of crusading against politicians purchasing state assets under conflict of interest, opaque, abuse of power and unethical circumstances; I believe it is time to have a strong piece of legislation with deterrent sanctions to end the canker.

    Mr. Ablakwa revealed that after notifying the police about the protest, he received a call from the Accra Regional Police commander acknowledging the notice.

    “I have served the Ghana Police Service with a notice of demonstration because the latest documents I have intercepted reveal that the parties involved are proceeding with the sale and purchase of state assets.

    The petition at CHRAJ has not halted their actions, as they are exploiting a loophole in the CHRAJ law, which does not grant injunction powers.”

    “I want to scale up the public agitation and the pressure and get all of these public officials who are not acting in our interest to listen to the public anger and stop all they are doing.

    “So in compliance with the public order, Act 419. I have notified the police that on June 18, 2024, at 9am, we shall be leading a public demonstration against this sale.

    We intend to start in front of Labadi Beach and proceed through La Palm Royal Beach Hotel, through the Ministries and then end at the jubilee house where we intend to present a petition to His Excellency Akufo-Addo.

    Mr Ablakwa said he expected the president to stop his appointees from proceeding with the transaction.

    “All of those who are acting, the people selling our SSNIT, his cabinet Minister who is keen on buying, they are all his appointees, and he told us that if people want to come into his government to make money they should know that, his government is no place for them, they should go to the private sector and make money, so I’m wondering what’s going on, “he said.

    Ablakwa pointed out that it has been over a week since the Trades Union Congress (TUC) and the Coalition of Civil Society Organisations Against Corruption held a press conference urging the president to intervene directly, yet the president has remained silent.

  • “I want to end it once and for all” – Ablakwa on bill banning politicians from buying state assets

    “I want to end it once and for all” – Ablakwa on bill banning politicians from buying state assets

    National Democratic Congress (NDC) Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has announced his intention to lead a team of lawyers in drafting a private member’s bill aimed at addressing the issue of Ghanaian politicians engaging in the sale or purchase of state assets.

    Ablakwa asserts that this longstanding practice, which persists under the Akufo-Addo regime, must come to an end.

    Taking proactive measures, Mr. Ablakwa has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate and halt the sale of hotels such as Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Ridge Royal Hotel to the Minister of Agriculture and Member of Parliament for Abetifi, Dr. Bryan Acheampong.

    In an interview on Joy FM’s Super Morning Show on Monday, May 27, Mr Ablakwa disclosed that respected Ghanaian legal luminary Professor Kwaku Azar has responded positively to his request to lead the team of lawyers that he’s putting together to have a private member’s bill “on this matter of politicians participating in the sale or purchase of state assets.”

    “I want to end it once and for all, because this has opened a can of worms and it will appear that it started gradually in very small forms, an now it has taken a dimension that is not in the national interest and people are taking advantage of.

    “Some politicians are taking advantage of grey areas and loopholes.

    Matters that appear amorphous and ambiguous are not settled and so they are just engaging in naked conflict of interest so I want us to have a law that expressly bans serving politicians in executive positions from participating in the sale and purchase of state assets.

    “And I want to thank Professor Kwaku Azar for leading the team. So in the coming days, we will be finalising our works and then we will share with the public what we have done.

    I know that the right honourable speaker who is forward-looking and he is a reformist will support in this regard.”

    The former Deputy Education Minister also hinted at an impending demonstration he would be leading against the proposed sale of SSNIT hotels to Rock City Hotel Limited owned by the Agric Minister.

    According to him, despite the expressed opposition to the deal, the processes are still ongoing between SSNIT and the potential buyer.

    He said he has already notified the police about the protest scheduled for June 18th.

  • Mr President, see no evil, hear no evil – The SSNIT hotels wahala

    The debate over SSNIT’s decision to sell its shares has intensified since the North Tongu MP, Samuel Okudzeto Ablakwa lodged a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the processes surrounding the sale of six hotels to Rock City Hotel owned by Bryan Acheampong.

    The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    Mr Ablakwa’s petition seeks an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    SSNIT Response

    The Social Security and National Insurance Trust (SSNIT) has since denied any foul play in its decision to sell a 60% stake in its hotels to Rock City Hotel.

    They insisted that the process in selecting a buyer was transparent and strictly adhered to the Public Procurement Act to select Rock City Hotel, among five other hotels that applied.

    In a statement issued on Sunday, May 19, SSNIT explained that Rock City Hotel Limited submitted the best and strongest technical and financial proposal among the bids received, meeting the criteria set out in the Request for Proposals (RFP).

    SSNIT assured the public it will cooperate fully with CHRAJ throughout its investigation process.

    Byran Acheampong reacts

    Mr Acheampong on Tuesday said the allegations peddled by Mr Ablakwa suggesting that he’s committing any wrongdoing in Rock City’s proposal to purchase 60% of shares in SSNIT’s four hotels are false and baseless.

    Speaking on JoyFM’s Super Morning Show, the Abetifi MP expressed his disappointment in the stance taken by his colleague.

  • Gov’t released KPMG report to take Ghanaians’ attention from sale of SSNIT hotels – Bridget Otoo

    Gov’t released KPMG report to take Ghanaians’ attention from sale of SSNIT hotels – Bridget Otoo

    Prominent social media personality, Bridget Otoo, has alleged that the release of the KPMG audit report by President Nana Akufo-Addo over the deal between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML) is meant to distract the public from the ongoing sale of SSNIT hotels to Member of Parliament for Abetifi Constituency, Bryan Acheampong.

    The release of the KPMG audit report by President Nana Akufo-Addo comes in response to weeks of mounting pressure from the public and civil society organizations for transparency regarding the contentious contract.

    The President commissioned KPMG to audit the contract on January 2, 2024, with an initial deadline of January 16, 2024, later extended to February 23, 2024.

    In reaction, Bridget Otoo noted that since the labour unions have threatened a strike over the SSNIT deal with Rock City Hotel, the government has found it prudent to release the KPMG report.

    “The government doesn’t care about anything! It’s either their way or nothing… As @lordcudjoe puts it “all crooked deals are cooked at the “ #JulorbiHouse They didn’t want to release the SML report, now that Labour unions are threatening strike over this heartless deal of handing over 60% stake in 6 hotels to a sitting MP and minister, they have found it necessary to release the report. #SSNITStopTheSaleNow,” she wrote.

    SSNIT

    Organised Labour has voiced concerns over the ongoing divestiture of the Social Security and National Insurance Trust (SSNIT) shares in four hotels to Rock City Hotel, owned by Bryan Acheampong, the Minister of Agriculture.

    The group has urged the government to halt the process, warning of a potential nationwide strike by workers if the divestiture proceeds.

    SSNIT is close to finalizing the sale of 60% of its shares in Labadi Beach Hotel, LA Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort to Rock City Hotel.

    This move has sparked widespread criticism, prompting North Tongu MP Okudzeto Ablakwa to file a petition with the Commission on Human Rights and Administrative Justice (CHRAJ).

  • “I don’t receive any salary or benefits from Rock City Hotel” – Bryan Acheampong

    “I don’t receive any salary or benefits from Rock City Hotel” – Bryan Acheampong

    The Minister for Food and Agriculture and Member of Parliament for Abetifi Constituency, Bryan Acheampong, who is the owner of Rock City Hotels Limited, has refuted allegations made by North Tongu MP, Samuel Okudzeto Ablakwa, suggesting wrongdoing in Rock City’s proposal to purchase 60% of shares in SSNIT’s four hotels.

    Speaking on JoyFM’s Super Morning Show on Tuesday, May 21, the Abetifi MP expressed his disappointment in his colleague’s stance, which is that Ghanaians are being short-changed in the transaction.

    Mr Ablakwa hinted at sending a new petition to the Speaker of Parliament, as he believes the MP violated sections of the Constitution by failing to seek the Speaker’s permission to engage in a profit-making venture.

    But according to Mr Acheampong, he does not receive salary or benefits from the company he owns as a non-Executive Director.

    “There is a big difference between Bryan Acheampong and Rock City Hotel. Rock City has its own boss, management who make decisions on the day-to-day running of the company. I own the company, proudly.

    “I am a non-Executive Director of Rock City. But if you are registering at Registrar General, they don’t give you this qualification. You just have to bring two Directors and so definitely I am one of the directors but in terms of the functions, I am not a part of it.

    “I don’t take any salary or emoluments. I don’t participate in anything. I am the vision-bearer. I don’t receive any salary or benefits, they pay SSNIT of close to about 500 staff, you can check if I am one of them,” he said.

    He cautioned the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, against defaming his company.

    “You are just adding things together and trying to destroy me and trying to destroy Rock City. It is most unfair, it is ‘un-Ghanaian’ and you should stop it,” he told Mr Ablakwa who was also on the Super Morning Show.

    This development follows days after the NDC MP petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to halt the sale of four hotels to RockCity, of which Mr. Acheampong is one of the two directors.

    Mr. Ablakwa, in his petition, alleged that intercepted documents indicate that negotiations to sell 60% of the shares of the six SSNIT hotels to the minister’s RockCity Hotel Limited “are far advanced.”

    He is seeking an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    Mr. Bryan Acheampong has dismissed all the claims made by his colleague. He explained that he is separate from Rock City as a corporate entity and that as a non-executive director of the hotel, he does not need to seek a certificate of clearance from the Speaker, as he has always been in business before becoming a public official.

    “If you have issues with a corporate entity, ask questions. I will never stop you and nobody will stop you from asking questions but in the tangent that you [Okudzeto Ablakwa] are going, it has nothing to do with that.

    “I am a politician and I can be okay with it… but note that you are not speaking the truth and CHRAJ will confirm all this to you,” he told the outspoken MP.

    Mr. Ablakwa is confident that he will be vindicated and the matters will be fairly settled after the investigations by CHRAJ.

    He also mentioned that his suspicion is further strengthened by the fact that Rock City Hotels purchased 25% of SSNIT shares in the Regency Hotel in Kumasi in 2022 at a lower amount.

    However, Mr. Bryan Acheampong disagreed with this claim, insisting that Rock City got the shares for a good value that benefited his business and the state.

    “Rock City tells me and SSNIT has also confirmed that they had several negotiation meetings. One of the minutes is what Mr. Okudzeto has. In the final negotiations that they reached an agreement, the agreement is what Rock City fulfilled and for an asset that for 30 years has not returned one cedi to SSNIT pensioners, it is of value to SSNIT that they check out of that transaction,” he explained.

  • It is an abuse of power! – Ablakwa on sale of 60% stake in SSNIT hotels to Rock City Hotel

    It is an abuse of power! – Ablakwa on sale of 60% stake in SSNIT hotels to Rock City Hotel

    North Tongu MP Samuel Okudzeto Ablakwa has accused Agriculture Minister Bryan Acheampong of violating the constitution and abusing his power as a state official.

    He argues that state officials should not be permitted to acquire any state assets.

    This accusation stems from revelations that Mr. Acheampong’s business, Rock City Hotel, is in the process of acquiring a 60% stake in four hotels owned by SSNIT.

    Mr. Ablakwa contends that this constitutes unethical behavior and a violation of Articles 78(3) and 98(2) of the 1992 Constitution, which aim to prevent MPs and Ministers from using their positions for personal gain and to avoid conflicts of interest.

    Speaking on PM Express on JoyNews, he noted that although the Agriculture Minister claims he is not involved in the daily operations of Rock City Hotel, he is the sole beneficiary owner of the company and its profits.

    “You (Bryan Acheampong) are sitting in the Cabinet privy to insider information. Nobody can convince me that SNIT, taking such a major decision, would not go to Cabinet for approval.

    “There will be discussions at Cabinet. You have your colleague ministers and government appointees on the SSNIT board. Look, it’s untidy. This is a conflict of interest. This doesn’t happen anywhere else,” Mr Ablakwa said.

    Mr. Ablakwa further pointed out that Rock City Hotel has abandoned its pursuit of ownership in two underperforming hotels while continuing to show interest in the lucrative ones, and is now only focused on making money.

    “It is a conflict of interest. It is an abuse of power, unethical and reprehensible, and I have always maintained this. Remember 16 years ago, I took Jake Obetsebi Lamptey to court when I discovered he was in the process of purchasing his official bungalow, my position has not changed.”

    “No Minister of State or state official The attempt to say that he is not involved in day-to-day management, the issue is about the profits, the proceeds, it is not going to do to workers of Ghana or MPs, he is the sole beneficiary owner.”

    Background

    Last week, the North Tongu MP formally petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate allegations regarding the sale of six hotels to Rock City Hotel, owned by Bryan Acheampong.

    The hotels under scrutiny in the petition are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    Mr. Ablakwa’s petition seeks an investigation into several allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    The Social Security and National Insurance Trust (SSNIT) denied any wrongdoing in its decision to sell a 60% stake in its hotels to Rock City Hotel.

    “You are just adding things together and trying to destroy me and trying to destroy Rock City. It is most unfair, it is ‘un-Ghanaian’ and you should stop it,” he told Mr Ablakwa who was also on the Super Morning Show.

    The next step

    The next step

    Mr. Ablakwa isn’t giving up, though. He informed Evens Mensah that he will bring up the matter with the Speaker of Parliament in a petition.

    “I have obtained the full list of 47 ministers and MPs diligently and I know for a fact that indeed, Bryan Acheampong confirmed this morning that he has not complied with the provisions of the Constitution. So I certainly will bring this to the attention of the Speaker as soon as the house resumes.”

  • Sale of SSNIT’s hotels to Bryan Acheampong a conflict of interest and abuse of power – Ablakwa insists

    Sale of SSNIT’s hotels to Bryan Acheampong a conflict of interest and abuse of power – Ablakwa insists

    North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has accused Agriculture Minister Bryan Acheampong of violating the constitution and abusing his power as a state official.

    Mr Ablakwa argues that state officials should not be permitted to purchase any state assets.

    This accusation follows the revelation that Acheampong’s business, Rock City Hotel, is in the process of acquiring a 60% stake in four hotels owned by SSNIT.

    According to Mr Ablakwa, this constitutes unethical conduct and breaches Articles 78(3) and 98(2) of the 1992 Constitution, which are designed to prevent MPs and Ministers from abusing their office, taking advantage of their position, and using their influence for private gain to avoid conflicts of interest.

    Speaking on PM Express on JoyNews, Mr Ablakwa noted that while the Agriculture Minister claims he is not involved in the day-to-day management of Rock City Hotel, he remains the sole beneficiary owner of the company and its profits.

    “You (Bryan Acheampong) are sitting in the Cabinet privy to insider information. Nobody can convince me that SNIT, taking such a major decision, would not go to Cabinet for approval.

    “There will be discussions at Cabinet. You have your colleague ministers and government appointees on the SSNIT board. Look, it’s untidy. This is a conflict of interest. This doesn’t happen anywhere else,” Mr Ablakwa said.

    Mr. Ablakwa also pointed out that Rock City Hotel is focused solely on pursuing profits, having opted out of acquiring stakes in two underperforming hotels while maintaining interest in the profitable ones.

    “It is a conflict of interest. It is an abuse of power, unethical and reprehensible and I have always maintained this. Remember 16 years ago, I took Jake Obetsebi Lamptey to court when I discovered he was in the process of purchasing his official bungalow, my position has not changed.”

    “No Minister of State or state official The attempt to say that he is not involved in day-to-day management, the issue is about the profits, the proceeds, it is not going to do to workers of Ghana or MPs, he is the sole beneficiary owner.”

    Last week, North Tongu MP Samuel Okudzeto Ablakwa lodged a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate allegations surrounding the sale of six hotels to Rock City Hotel, owned by Bryan Acheampong.

    The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.

    Ablakwa’s petition to CHRAJ seeks an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    The Social Security and National Insurance Trust (SSNIT) has denied any foul play in its decision to sell a 60% stake in its hotels to Rock City Hotel. SSNIT insisted that the process of selecting a buyer was transparent and strictly adhered to the Public Procurement Act, and that Rock City Hotel submitted the best and strongest technical and financial proposal among the bids received, meeting the criteria set out in the Request for Proposals (RFP).

    In a statement issued on Sunday, May 19, SSNIT assured the public that it will cooperate fully with CHRAJ throughout the investigation process.

    On Tuesday, Bryan Acheampong responded to the allegations, stating that the claims made by Ablakwa suggesting any wrongdoing in Rock City’s proposal to purchase 60% of shares in SSNIT’s four hotels are false and baseless.

    Speaking on JoyFM’s Super Morning Show, the Abetifi MP expressed his disappointment in the stance taken by his colleague.

    “You are just adding things together and trying to destroy me and trying to destroy Rock City. It is most unfair, it is ‘un-Ghanaian’ and you should stop it,” he told Mr Ablakwa who was also on the Super Morning Show.

    But, Mr Ablakwa is not relenting. He told Evens Mensah that he will make a petition to the Speaker of Parliament to address the issue.

    “I have obtained the full list of 47 ministers and MPs diligently and I know for a fact that indeed, Bryan Acheampong confirmed this morning that he has not complied with the provisions of the Constitution. So I certainly will bring this to the attention of the Speaker as soon as the house resumes.”

  • I am not after Bryan Acheampong but the country’s interest – Ablakwa on SSNIT hotels sale saga

    I am not after Bryan Acheampong but the country’s interest – Ablakwa on SSNIT hotels sale saga

    The Member of Parliament for North Tongu has stated that his petition to probe the sale of Social Security and National Insurance Trust’s (SSNIT) 60% stake in hotels to Abetifi MP, Bryan Acheampong, is not motivated by personal vendetta.

    Samuel Okudzeto Ablakwa emphasized that the interest of the nation and its citizens is the supreme reason for his actions.

    “It is not about Bryan Acheampong as a person. We are colleagues in parliament, worked on committees together, and went to PRESEC we are all Ɔdadeɛ so it is nothing personal but the principles,” he said.

    During an appearance on Adom FM’s morning show Dwaso Nsem on Tuesday, he clarified that the petition has nothing to do with the Minister for Food and Agriculture personally but rather concerns the entire decision, which he considers to be wrong.

    “I don’t mind if it was going to an NDC person, whoever or even someone from North Tongu; I don’t care. I am questioning the rationale and policy decision. How is that in national interest?

    “These hotels are doing well; Labadi beach pays dividends; strategic fixed assets which appreciates every year. You will weep for Ghana when you hear what they want to do at Elmina. Why are you diversifying yourself of 60% from these profitable hotels. All I am saying is that the decision is not strategic and not in the national interest,” he explained.

    Mr. Ablakwa has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate and halt the sale of the hotels to Mr. Acheampong. The hotels in question include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Ridge Royal Hotel.

    His petition calls for an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, and cronyism.

    Additionally, Mr. Ablakwa stated his intention to bring the issue to the attention of the Speaker of Parliament, Alban Bagbin, citing violations of the constitution by his colleague MP.

  • You want to destroy me and Rock City – Bryan Acheampong decries Ablakwa’s SSNIT hotel saga

    You want to destroy me and Rock City – Bryan Acheampong decries Ablakwa’s SSNIT hotel saga

    The Minister for Food and Agriculture and Member of Parliament for Abetifi Constituency, Bryan Acheampong, has cautioned the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, against defaming his company.

    Mr. Acheampong, who is also the owner of Rock City Hotels Limited, refuted allegations made by Mr. Ablakwa suggesting wrongdoing in Rock City’s proposal to purchase 60% of shares in SSNIT’s four hotels, calling these claims false and baseless.

    Speaking on JoyFM’s Super Morning Show, the Abetifi MP expressed his disappointment in his colleague’s stance.

    “You are just adding things together and trying to destroy me and trying to destroy Rock City. It is most unfair, it is ‘un-Ghanaian’ and you should stop it,” he told Mr Ablakwa who was also on the Super Morning Show.

    This development follows days after the NDC MP petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to halt the sale of four hotels to RockCity, of which Mr. Acheampong is one of the two directors.

    Mr. Ablakwa, in his petition, alleged that intercepted documents indicate that negotiations to sell 60% of the shares of the six SSNIT hotels to the minister’s RockCity Hotel Limited “are far advanced.”

    He is seeking an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    Speaking on the Joy SMS on Tuesday, May 21, Mr. Ablakwa emphasized that Ghanaians are being short-changed in the transaction.

    He hinted at sending a new petition to the Speaker of Parliament, as he believes the MP violated sections of the Constitution by failing to seek the Speaker’s permission to engage in a profit-making venture.

    However, Mr. Bryan Acheampong has dismissed all the claims made by his colleague.

    He explained that he is separate from Rock City as a corporate entity and that as a non-executive director of the hotel, he does not need to seek a certificate of clearance from the Speaker, as he has always been in business before becoming a public official.

    “If you have issues with a corporate entity, ask questions. I will never stop you and nobody will stop you from asking questions but in the tangent that you [Okudzeto Ablakwa] are going, it has nothing to do with that.

    “I am a politician and I can be okay with it… but note that you are not speaking the truth and CHRAJ will confirm all this to you,” he told the outspoken MP.

    Mr. Ablakwa is confident that he will be vindicated and the matters will be fairly settled after the investigations by CHRAJ.

    He also mentioned that his suspicion is further strengthened by the fact that Rock City Hotels purchased 25% of SSNIT shares in the Regency Hotel in Kumasi in 2022 at a lower amount.

    However, Mr. Bryan Acheampong disagreed with this claim, insisting that Rock City got the shares for a good value that benefited his business and the state.

    “Rock City tells me and SSNIT has also confirmed that they had several negotiation meetings. One of the minutes is what Mr. Okudzeto has. In the final negotiations that they reached an agreement, the agreement is what Rock City fulfilled and for an asset that for 30 years has not returned one cedi to SSNIT pensioners, it is of value to SSNIT that they check out of that transaction,” he explained.

  • SSNIT’s decision to sell its stake in hotels reasonable – Franklin Cudjoe

    SSNIT’s decision to sell its stake in hotels reasonable – Franklin Cudjoe

    President of IMANI Africa, has lauded the Social Security and National Insurance Trust (SSNIT) for engaging the private sector to co-invest in the hotels, which are currently wholly owned by the trust but struggling with operational inefficiencies.

    He argued that this strategy would lead to a more efficient allocation of resources, benefiting both SSNIT and the broader economy.

    According to Mr. Cudjoe, divesting these hotels would not only provide liquidity to SSNIT’s operations but also reduce political interference in the management of these assets.

    In a recent Facebook post on Tuesday, May 21, he reiterated his support for the initiative, emphasizing that the negotiated sale price for the four hotels is fair and reasonable.

    Mr. Cudjoe highlighted the potential benefits of SSNIT’s decision to involve the private sector in its hotel holdings, indicating a move towards greater operational efficiency and transparency in managing public assets.

    “I think it is sensible for a state behemoth such as SSNIT, eternally abused by past and present politicians, to scale down its real estate business, which has never been profitable.”

    “Similarly, SSNIT should seek private sector participation (co-investment) in wholly-owned hotels, which are all not running efficiently. Not only will that free up some liquidity, but it will also amputate the long arm of the politicians, who tend to reach into the brick-and-mortar businesses over which SSNIT has control. That said, I will support any competitive divestiture that brings on board more money, technology, and skills and preserves Ghanaian management.”

    “I think the investment plan proposed and the price agreed for the 4 hotels are fair,” he stated.

    Mr. Cudjoe’s comments come after North Tongu MP, Samuel Okudzeto Ablakwa, formally petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the sale processes of six hotels.

    The petition identifies Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    However, SSNIT clarified that only four of the hotels had successful bids, contrary to the MP’s claim of six.

    Mr. Ablakwa’s petition calls for an investigation into various allegations, including conflicts of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.

    In his petition, Mr. Ablakwa highlights what he perceives as constitutional violations, specifically citing Articles 78(3) and 98(2) of the 1992 Constitution. He contends these actions represent significant breaches of legal and ethical standards.

    Additionally, in a Facebook post on Friday, May 17, Mr. Ablakwa argued that Bryan Acheampong’s alleged involvement in the hotel sale without the Speaker of Parliament’s permission constitutes a breach of parliamentary protocol regarding holding offices of profit.

    According to Mr. Ablakwa, this is a serious violation that warrants thorough investigation and accountability.

    “In my petition, I am inviting CHRAJ to investigate grave matters bordering on conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.”

    “I have also drawn attention to blatant violations of Article 78(3) and 98(2) of the 1992 Constitution as diligent checks from Parliament’s Committee on Office of Profit reveal that Hon. Bryan Acheampong has not applied and does not have the permission of the Speaker of Parliament to hold an office of profit,” he said.

  • Stop making inappropriate comments – Nana Akomea to Ablakwa over sale of SSNIT hotels saga

    Stop making inappropriate comments – Nana Akomea to Ablakwa over sale of SSNIT hotels saga

    Deputy Chairperson of the Campaign Team for the New Patriotic Party (NPP) flagbearer, Nana Akomea, has criticized the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, over his recent comments on the sale of state-owned Social Security and National Insurance Trust (SSNIT) hotels to the Minister of Food and Agriculture, Bryan Acheampong.

    Nana Akomea pointed out that while Mr Ablakwa has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate Bryan Acheampong regarding the transaction, he is making statements as if the minister has already committed a crime.

    “Sammy Okudzeto has already pronounced on the matter. He is calling it sleazy and all kinds of accusations, which I don’t think is right.

    “You must be careful with these matters. You’re calling people out for what you call engaging in sleazy acts, but you have called for an investigation by CHRAJ,” he chided the MP.

    Mr. Ablakwa has petitioned the Commission for Human Rights and Administrative Justice (CHRAJ) to investigate and halt the minister from acquiring the following hotels: Labadi Beach Hotel, La Palm Royal Beach Hotel, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.

    He argued that the minister’s actions not only constitute an abuse of power but also indicate a lack of due process, procurement breaches, cronyism, graft, and a violation of the Constitution of Ghana.

    SSNIT has also clarified that it is selling 60% shares of the six hotels to Bryan Acheampong’s company because they presented the best offer. The shares of the hotels were advertised for all interested parties to bid on.

    Nana Akomea also made some startling revelations, which are yet to be confirmed, in reaction to the concerns that have stemmed from the sale of state-owned Social Security and National Insurance Trust (SSNIT) hotels to Minister of Food and Agriculture, Bryan Acheampong.

    The Managing Director of Intercity STC Coaches Limited indicated that some properties of SSNIT have been sold to politicians including leading members of the opposition National Democratic Congress (NDC), in the past.

    The STC boss, who is a former MP and former Minister of Information, went on to list properties of SSNIT that were sold to leading members of the NDC without mentioning names, which were sent to him by a staff member of SSNIT.

    “The minority owner of the SSNIT hotel in Cape Coast is a high-ranking NDC member. When this person bought it, the NDC was in power. The catering rest house in Tamale was also bought by somebody who is a high-ranking NDC member.

    “The catering rest house in Sunyani was also bought by a high-ranking NDC member. The catering rest house in Kumasi was also bought by a high-ranking NDC member,” he stated.

    Nana Akomea made these remarks during a panel discussion on Metro TV’s Good Morning Ghana programme on May 17, 2024.

    He further mentioned that unlike the NDC bigwigs who purchased SSNIT properties while they were in power, Bryan Acheampong has demonstrated his ability to revitalize hotels that are not profitable.

    “Now these people are not even known to be hoteliers, unlike Bryan Acheampong, who has put up what people call the biggest hotel in Africa on his own, and so he is eminently qualified to run hotels that are failing,” he emphasised.

    He also suggested that the CHRAJ investigation should be broadened to encompass all SSNIT properties that were sold to politicians, including members of the NDC.

  • It is sensible and fair SSNIT sells its hotels – Franklin Cudjoe

    It is sensible and fair SSNIT sells its hotels – Franklin Cudjoe

    President of IMANI Africa, Franklin Cudjoe, has commended the Social Security and National Insurance Trust (SSNIT) for its decision to divest its stake in six hotels, calling it a prudent move.

    Mr Cudjoe praised SSNIT’s strategy to involve the private sector in co-investing in the hotels, which are currently fully owned by the trust but have been facing operational challenges.

    He argued that this approach would lead to a more efficient allocation of resources, benefiting both SSNIT and the broader economy.

    According to Mr Cudjoe, divesting from these hotels would not only provide liquidity for SSNIT’s operations but also reduce political interference in the management of these assets.

    In a recent Facebook post on Tuesday, May 21, Mr Cudjoe reiterated his support for the initiative, emphasizing that the negotiated sale price for the four hotels is fair and reasonable.

    “I think it is sensible for a state behemoth such as SSNIT, eternally abused by past and present politicians, to scale down its real estate business, which has never been profitable.”

    “Similarly, SSNIT should seek private sector participation (co-investment) in wholly-owned hotels which are all not runnig efficiently. Not only will that free up some liquidity, but it will also amputate the long arm of the politicians, which tend to reach into the brick and mortar businesses over which SSNIT has control. That said, I will support any competitive divestiture that brings on board more money, technology, skills and preserves Ghanaian management.”

    “I think the investment plan proposed and the price agreed for the 4 hotels is fair,” he stated.

    Franklin Cudjoe’s comments come in response to a formal petition filed by North Tongu MP Samuel Okudzeto Ablakwa with the Commission on Human Rights and Administrative Justice (CHRAJ), requesting an investigation into the sale of six hotels.

    The hotels listed in the petition are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

    However, SSNIT clarified that only four hotels, not six, have had successful bids, contrary to the MP’s claims.

    Mr Ablakwa’s petition demands an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and corruption.

    In his petition, Mr Ablakwa points out what he considers violations of constitutional provisions, specifically Articles 78(3) and 98(2) of the 1992 Constitution, arguing that these actions represent significant breaches of legal and ethical standards.

    Additionally, in a Facebook post on Friday, May 17, Mr Ablakwa claimed that Bryan Acheampong’s alleged involvement in the hotel sale without the Speaker of Parliament’s permission constitutes a breach of parliamentary protocol regarding holding offices of profit.

    Mr Ablakwa asserts that this is a serious violation that warrants thorough investigation and accountability.

    “In my petition, I am inviting CHRAJ to investigate grave matters bordering on conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.”

    “I have also drawn attention to blatant violations of Article 78(3) and 98(2) of the 1992 Constitution as diligent checks from Parliament’s Committee on Office of Profit reveal that Hon. Bryan Acheampong has not applied and does not have the permission of the Speaker of Parliament to hold an office of profit,” he said.

    However, according to SSNIT, the strategy to partner with an investor to raise capital to invest in their hotels, and also assist in their management, started as far back as 2018 through International Competitive Tendering (ICT) processes as prescribed by the Public Procurement Act.

  • “You have not followed regulations that guide sale of state assets” – Organized Labour to SSNIT

    “You have not followed regulations that guide sale of state assets” – Organized Labour to SSNIT

    Secretary-General of the Trades Union Congress (TUC), Dr. Yaw Baah has criticized the Social Security and National Insurance Trust (SSNIT) for allegedly failing to conduct proper due diligence in its attempt to sell its stakes to Rock City Hotel.

    This comes as a responds to claims by the Trust that it was selling its stakes in six hotels to Rock City Hotel, a company owned by the Minister of Food and Agriculture, Mr. Bryan Acheampong.

    But SSNIT says the hotel presented the strongest technical and financial proposal among other interested companies to back the claim.

    However, Mr. Baah has asserted that the Trust mishandled the sale process.

    “From all indications, it appears the process is going on, and in fact, they are even speeding it, and we do not think it is right. We do not think the regulations that guide the sale of state assets were followed. We do not think that the necessary due diligence was conducted. We cannot imagine that state property will be sold to a Minister of state,“ he said.

    He urged the minister responsible for pensions to take proactive measures to prevent the sale; otherwise, the union would be compelled to take action.

  • Cancel the process immediately! – Organized labor to SSNIT on sale of stake in hotels

    Cancel the process immediately! – Organized labor to SSNIT on sale of stake in hotels

    The leadership of Ghana’s organized labor has urged the Social Security and National Insurance Trust (SSNIT) to halt the proposed sale of its stake in six hotels.

    This appeal was made during a press briefing delivered by the Secretary-General of the Trades Union Congress (TUC), Dr. Yaw Baah.

    Dr. Baah called on the minister responsible for pensions to instruct the Board of Trustees of SSNIT to immediately cease the process.

    He mentioned that union representatives on the Board of Trustees of SSNIT had informed the union leadership that they had jointly raised objections to the process.

    “SSNIT’s interests in six hotels should not be packaged and sold as if all the hotels were in the same financial situation. The original proposal for the sale of SSNIT’s interests in six hotels has now been reduced to four. We hold the view that this renders the whole process null and void.

    The proposed payment terms deviated from the original Memorandum of Understanding (MOU) based on the recommendation of the transaction advisor,” he stated.

    Dr. Baah also expressed concern that state assets might be sold to a Minister of State.

    The union responded to an accusation against the Trust, claiming that it was selling its stakes in six hotels to a company owned by the Minister of Food and Agriculture, Mr. Bryan Acheampong.

    In a press statement, the Trust clarified that Rock City Hotel had presented the strongest technical and financial proposal among other interested companies.

    However, Dr. Baah criticized the Trust for allegedly failing to conduct proper due diligence in its attempt to sell its stakes to Rock City Hotel.

    “From all indications, it appears the process is going on, and in fact, they are even speeding it, and we do not think it is right. We do not think the regulations that guide the sale of state assets were followed. We do not think that the necessary due diligence was conducted. We cannot imagine that state property will be sold to a Minister of state,“ he said.

    He urged the minister responsible for pensions to take proactive measures to prevent the sale; otherwise, the union would be compelled to take action.