Going back into the hotels — The Fundamental Issues Hon. Elizabeth Ohene failed to address in her article (Part 1):

1. The business case and justification for selling our SSNIT hotels.

2. Why a very profitable Labadi Beach Hotel which paid GHS10million and GHS25million in dividends to SSNIT in 2022 and 2023 respectively should be sold?

3. The naked conflict of interest concerns in violation of Articles 284, 98 and 78 of the 1992 Constitution of Ghana when SSNIT selected Bryan Acheampong’s Rock City as its preferred buyer.

4. The value for money issues — why did SSNIT accept Rock City’s bid of US$61million which was way off the mark and very much below SSNIT’s own fair market valuation of the 4 hotels pegged at US$121million?

5. Why did SSNIT ignore the superior offer of Kwaw Blay’s Spartan Ives which according to former NPP Chairman, Mr. Freddie Blay was between US$150million and US$200million?

6. Why was Bryan Acheampong’s Rock City bid not disqualified as they couldn’t have had a valid GRA Tax Clearance Certificate having failed to file their taxes in 2021 and 2022? This flagrantly violates the Income Tax Act, 2015 (Act 896) and SSNIT’s own advertised Pre-Qualification Criteria.

7. Why was Bryan Acheampong’s Rock City allowed to select the best 4 hotels when the advertised procurement was for 6 hotels?

8. Why has the payment terms been varied to favour Bryan Acheampong’s Rock City?

9. Why is SSNIT breaching its own advertised proof of funds requirement by allowing Bryan Acheampong to raise bonds to shore up its shortfall?

10. Hon. Elizabeth Ohene also failed to clarify in what capacity she was writing as she cannot purport to be speaking on behalf of the entire SSNIT board considering organized labour’s press statement of 20th May, 2024 stating unequivocally that the 4 labour reps on the SSNIT board opposed the transaction and asked for it to be halted.

For God and Country.

Ghana First 🇬🇭

By Samuel Okudzeto Ablakwa