A former Deputy Minister for Fisheries and Aquaculture Development, Francis Kingsley Ato Cudjoe, has attributed the public uproar against the decision by the Social Security and National Insurance Trust (SSNIT) to sell a 60% stake in its hotels to political bias.
According to him, the criticism stems from the prospective buyer, Bryan Acheampong’s association with the ruling New Patriotic Party (NPP).
“The problem with all the noise we are making around the sale of 60% shares of the SSNIT hotels is that a Ghanaian is buying it and that Ghanaian is NPP.
“If somebody who is not NPP goes to buy state properties that is okay. It is all about a person called Bryan Acheampong who is NPP and is buying a property,” he said.
A string of events has taken place since the news broke that Mr Acheampong’s company was the successful bidder of the 60% shares in four hotels belonging to SSNIT.
Labour unions have engaged with the board of SSNIT to terminate the transaction.
The MP for North Tongue, Samuel Okudzato Ablakwa who blew the whistle on the deal has petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) and also led a demonstration for the deal to be botched.
However, speaking on Joy Prime’s Prime Morning, Mr Cudjoe argued that SSNIT’s decision to sell the majority stake was purely economic and aimed at revitalizing the underperforming hotels.
“We’re in a country where many state properties have been sold to foreigners. These hotels are not making profits, they brought in management and still the hotels were not profitable.
“So now they think of having a partner. They are not completely selling, SSNIT will keep 40% and have a partner with 60% who is profit-driven and runs the business for profit,” he said on Tuesday.
Touting Mr Acheampong as a charismatic businessman, Mr Cudjoe indicated that no one would have criticised the decision if the buyer was not linked to the NPP.
Meanwhile, the Director General of SSNIT, Kofi Bosompem Osafo-Maafo, has justified his outfit’s decision to sell 60% stake in a number of its hotels.
According to him, all the hotels put up for sale have recorded consistent losses and are not paying dividends.
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