Member of Parliament for North Tongu Constituency, Samuel Okudzeto Ablakwa, says considering policy options available, the sale of the Social Security and National Insurance Trust (SSNIT) should be considered only as a last resort.
He suggested that, management changes could potentially be a viable alternative.
This follows SSNIT explaining its decision to sell a 60% stake in four of its hotels to Rock City Hotel, owned by Bryan Acheampong, Ghana’s Minister for Food and Agriculture, and a New Patriotic Party (NPP) Member of Parliament for Abetifi Constituency.
In a statement issued on Sunday, May 19, SSNIT explained that Rock City Hotel Limited submitted the best and strongest technical and financial proposal among the bids received, meeting the criteria set out in the Request for Proposals (RFP).
According to SSNIT, the selection process was transparent and strictly adhered to the Public Procurement Act.
Speaking on the JoyNews AM show however, Mr. Ablakwa said, “We have seen from the history of Labadi that when they were not doing well, they were struggling, and there was a management change. We brought in a legacy; it revamped the fortune and transformed the fortunate, so when you adopt a leadership change at the top in terms of managing these hotels, the case study of Labadi shows that it works”.
The MP for North Tongu stated that alternatives such as floating shares instead of an outright sale exist.
Mr. Ablakwa highlighted concerns that the preferred bidder, Bryan Acheampong, is a politically exposed person, which he asserted is not acceptable in any country where a cabinet minister is permitted to acquire state assets.
He emphasised the need for legislative action to prohibit politically exposed individuals from owning state property, calling it an essential measure to prevent such practices.
“I have consistently said that politically exposed persons should stay away from state assets.”
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