The Social Security and National Insurance Trust (SSNIT)
The Social Security and National Insurance Trust (SSNIT) has not yet received full payment from the investors who bid for a 60% stake in four of its hotels, this is according to a source who spoke to asaaseradio.com.
Reports indicate that the investors have only made an initial deposit, with the remaining balance expected to be covered by the operating revenues generated from the hotels. However, the source clarified that the claim that funds have been paid to the Trust is false, as negotiations are still ongoing.
In a statement released on Sunday, May 19, SSNIT announced that the process of securing a strategic investor is in its final stages and has not been concluded yet.
Therefore, the financial transactions for the investment in these hotels have not taken place, as SSNIT is still in negotiations with the investor.
SSNIT is looking to partner with a strategic investor to raise capital for the hotels and assist in their management.
Agriculture Minister Bryan Acheampong, who owns Rock City Hotel, has been in negotiations with SSNIT since 2018 for the sale of 60 percent of shares in the four hotels owned by the state-owned company.
The hotels in question include Labadi Beach Hotel, LA Palm Royal Beach Resort, Ride Royal Hotel, and Elmina Beach Resort.
Following the revelation by Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa over the proposed divestiture, the Commission on Human Rights and Administrative Justice (CHRAJ) has been petitioned to investigate the proposed sale with the goal of halting it.
However, SSNIT has stated that its decision to sell a 60% stake in its hotels to Rock City Hotel is based on the fact that Bryan Acheampong's company submitted the best proposal.
According to SSNIT, the sale of the hotels to the private investor is in line with the Trust's strategy to partner with a strategic investor to raise capital for investment in its hotels and to assist in their management.
Read the full statement from SSNIT below:
EAN/MA
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