None of our hotels has been sold- SSNIT boss

Despite the public outcry over the sale of six SSNIT-owned hotels, the Director General of SSNIT, Kofi Osafo-Maafo, has stated that no sales have occurred.

His call comes on the back of North Tongu Member of Parliament, Okudzeto Ablakwa, petitioning the Commission on Human Rights and Administrative Justice (CHRAJ) to probe the sale of six hotels, including Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel, to Bryan Acheampong.

In a response letter by the Social Security and National Insurance Trust (SSNIT), Rock City Hotel, owned by Bryan Acheampong, offered the best for the 60% stake in its hotels.

Speaking to journalists in Accra, Mr. Osafo-Maafo revealed that despite SSNIT’s substantial investment, hotels have been experiencing financial difficulties.

He said SSNIT considered only the sale option in its quest to intervene in its hotel investment portfolio because almost all the hotels have suffered consistent losses. He added that the six hotels have not been paying dividends and are unable to service their debt to SSNIT.


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