Sale of SSNIT Hotels: Baffour Awuah underestimating the anger of Ghanaians – Ablakwa

The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, says the Minister of Employment and Labor Relations, Ignatius Baffour Awuah, is taking Ghanaians for granted over the sale of a 60% stake in four Social Security and National Insurance Trust (SSNIT) hotels to Rock City.

The NPRA on June 28 issued a directive to the SSNIT board demanding it suspend all processes seeking to engage Rock City Hotel Limited as a strategic investor.

But answering a question on the floor of parliament today, July 11, Minister for Employment, Labour Relations and Pensions, Ignatius Baffour Awuah disclosed that NPRA has given SSNIT the green light to proceed with the sale.

“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.”

“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,” Mr. Minister disclosed.

Reacting to the development in an interview with Starr News, the North Tongu lawmaker stated the Minister is underestimating the anger of Ghanaians.

“The Minister for Employment and Labor Relations is clearly taking the Ghanaian people for granted, and he is underestimating our anger. How can the Minister tell us that the NPRA has given SSNIT a green light? As we speak, the transaction advisor, SEM Capital, led by Dr. Sam Mensa, has issued a damning verdict on this transaction. So what kind of review has the NPRA done?” he quizzed.

“Remember we paid good money to the transaction advisor? $491,000, which is over 7 million Ghana cedis. If they won’t listen to the transaction advisor, why are we spending so much money to obtain this advice from the transaction advisor? The transaction advisor is telling us that after reviewing this deal, they find that Rock City has made an offer that other businesses did not have. Rock City has been allowed to pay half and then spread the half over a 24-month period. And that is insider dealing, clear bias, clear discrimination. So, what kind of green light is the NPRA giving?” he added.