Agric Minister not willing to back-off from purchase of 60% SSNIT stake in hotels
Bryan Acheampong
Samuel Okudzeto Ablakwa, MP for North Tongu, criticized Agriculture Minister Bryan Acheampong for persisting in buying SSNIT's 60% stake in four hotels, despite constitutional concerns and public outcry, primenewsghana.com reports.
Read full articleAblakwa highlighted Labadi Beach Hotel's substantial profits, stating, “Labadi Beach in 2023 recorded a profit of GHS 158m, up from the GHS 77m profit in 2022."
He debunked claims of Rock City's profitability, asserting, "Rock City is making losses despite the propaganda that it is the best and well-managed."
Ablakwa revealed Rock City is expected to pay $61m for the stake, below its fair market value of $121m.
SSNIT, however, is proceeding with the sale, instructing Rock City to finalize due diligence.
Ablakwa announced plans for a protest against the sale, emphasizing, “But on Tuesday, this coming Tuesday, we will protest against that decision and demonstrate to register our displeasure.”
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