Bryan Acheampong's hotel gave the best offer for 60% share — SSNIT explains

The Social Security and National Insurance Trust (SSNIT) has defended its decision to sell a 60% stake in four of its hotels to Rock City Hotel, owned by Bryan Acheampong, the Minister for Food and Agriculture.


In a statement released on Sunday, May 19, 2024, SSNIT explained that Rock City Hotel Limited submitted the strongest technical and financial proposal among the bids received, meeting the criteria outlined in the Request for Proposals (RFP).

SSNIT emphasized that the selection process was transparent and complied strictly with the Public Procurement Act, ensuring no favoritism was involved in choosing Rock City Hotel Limited. The decision to partner with an investor aimed to raise capital for further investments in their hotels and to improve their management.

The process began in 2018 through International Competitive Tendering (ICT) procedures to ensure a fair and competitive selection process. SSNIT's press release detailed that in November 2018, they hired a Transaction Advisor to guide the selection of a strategic investor to partner with SSNIT in managing and enhancing the hotels.

SSNIT in a statement said Based on the criteria set out in the RFP, Rock City Hotel submitted the best and strongest technical and financial proposal amongst those received. Consequently, it is in negotiation with SSNIT to buy a 60% stake in each of the four (4) hotels (Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel and Elmina Beach Resort).


"Bids for Busua Beach Resort and the Trust Lodge were considered to be unsuccessful so they are no longer part of the hotels covered in this process."

This development follows a formal petition lodged by Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the process surrounding the sale of six hotels.

The hotels listed 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. However, SSNIT clarified that the bids were successful for only four hotels, not all six as claimed by the MP.

Ablakwa's petition calls for an investigation into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft. He cites perceived 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.

SSNIT responded that the strategy to partner with an investor to raise capital for hotel investments and management improvements began in 2018 through International Competitive Tendering (ICT) processes, as outlined by the Public Procurement Act.



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