President Nana Addo Dankwa Akufo-Addo has downplayed the controversies surrounding the attempt to sell hotels owned by the Social Security and National Insurance Trust (SSNIT), labeling them as unnecessary.
The President highlighted the GHS 230 million surplus reported by SSNIT, emphasizing the trust’s improved performance.
The President remarked, “The recent announcement of a GHS 230 million surplus in SSNIT’s operations should be reassuring to organized labour. It also underscores the unnecessary controversy generated by SSNIT’s efforts to offload non-performing assets in its hotel portfolio.”
President Akufo Addo made these comments during a meeting with organized labour in Accra on Tuesday, August 20.
Rock City Hotel withdrew its bid from the highly contested process to acquire strategic partnerships in the Social Security & National Insurance Trust (SSNIT) hotels.
The decision, conveyed in a letter addressed to Mr. Kofi Osafo-Maafo, Director-General of SSNIT, cited concerns over stakeholder engagement and media scrutiny.
Rock City Hotel expressed initial satisfaction with what they believed was a successful bid, surpassing competition from 15 other organizations.
However, recent developments have prompted the company to reassess its participation. The withdrawal follows growing discontent among SSNIT’s stakeholders regarding the decision to seek strategic investors for the hotels, coupled with negative media coverage.
“We feel you have not done enough to engage all your stakeholders, leading to perceptions that we don’t want associated with our brand,” the letter stated, emphasizing the potential harm to Rock City Hotel’s reputation and the viability of the investment.
The hotel further expressed a commitment to transparency by consenting to the release of their bid documents for public scrutiny if deemed necessary by SSNIT.
Mr. Osafo-Maafo, in response to the withdrawal, acknowledged the concerns raised by Rock City Hotel and reiterated SSNIT’s commitment to a fair and transparent process in selecting strategic partners for its assets.
The withdrawal of Rock City Hotel raises questions about the future direction of SSNIT’s hotel investment strategy and the broader implications for stakeholder management in public-private partnerships.
Ghana | Atinkaonline.com | Vivian Adu
