Director of Policy and Research at the Trades Union Congress (TUC), Dr. Kwabena Nyarko Otoo, has criticized the Social Security and National Insurance Trust (SSNIT) for its attempt to sell a 60% stake in four hotels to Rock City.
In an interview on Channel One TV, Dr. Otoo described SSNIT’s approach as “lazy” and questioned why hotels like Kempinski are thriving while La Palm Royal Beach Hotel is struggling.
Dr. Otoo urged SSNIT to investigate the causes of the hotels’ underperformance and to manage pension funds more prudently.
He emphasized that, the hotels should not be sold and called for the implementation of measures to ensure their viability.
“We do not expect SSNIT to go back in any attempt to sell the four hotels to Rock City Hotel or any other investor. The process was a problem to us, the fact that it has been bought by a Minister of State. We thought that it could be legal, but we thought that it was not morally right. Those in government should not be the ones buying our assets.
“But if we all agree that those investments were not doing well, I think the proper thing to do is to investigate why they are not doing well. We know that Kempinski, and other hotels, big hotels and small medium-sized hotels are doing well,” he said.
Organized Labour had declared its intention to strike on Monday, July 15, 2024, but called off the strike after SSNIT terminated the sale process of its 60% stakes in the four hotels.
Organized Labour then directed its members to resume work and demanded proper engagement with the government, threatening further action if their demands are not met.
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