Ghanaians mass up at Labadi Beach to protest against the sale of 4 SSNIT hotels

Protesters are gathering at the Labadi Beach Hotel to demonstrate against the sale of four Social Security and National Insurance Trust (SSNIT) hotels to Rock City Hotel Limited.

The hotels in question are the Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, and Busua Beach Resort.

The demonstration, dubbed 'Hands Off Our Hotels,' and led by Samuel Okudzeto Ablakwa, the National Democratic Congress (NDC) Member of Parliament for North Tongu is taking place today, Tuesday, June 18, 2024.

Ablakwa asserts that the protest aims to compel the president to halt the sale of these hotels.

Addressing the press on June 17, 2024, he confirmed that all arrangements for the demonstration were complete.

He emphasised the expectation of a peaceful protest and assured that individuals attempting to incite chaos would be dealt with by the Ghana Police Service.

Ablakwa also mentioned that he anticipates officials from the presidency will meet the demonstrators and receive their petition for submission to the president.

Earlier, SSNIT defended its decision to sell a 60% stake in the four hotels to Rock City Hotel Limited owned by Bryan Acheampong, the Minister of 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 emphasised that the selection process was transparent and strictly complied with the Public Procurement Act, ensuring no favouritism was involved. 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.

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