The National Pensions Regulatory Authority (NPRA) has ordered the Social Security and National Insurance Trust (SSNIT) to halt plans to involve Rock City Limited as a strategic investor in four SSNIT-owned hotels.
This directive aims to allow the NPRA to conduct due diligence amid public debate on the issue.
In a letter dated June 28, 2024, NPRA CEO John Kwaning Mbroh stated, “Section 67 (2) of the Act requires us to issue guidelines for your investment decisions. Therefore, you are directed to suspend all processes involving Rock City Hotel Limited as the strategic investor for these hotels.”
The hotels affected are La Palm Royal Beach Hotel, Elmina Beach Resort, Busua Beach Resort, Ridge Royal Hotel, and Trust Lodge.
Meanwhile, North Tongu MP Samuel Okudzeto Ablakwa recently led a protest against selling SSNIT’s hotels to the Minister of Food and Agriculture, Dr. Bryan Acheampong, who owns Rock City Hotel Limited.
The protest aims to pressure the government to stop the proposed sale of a 60 percent stake in these four hotels.
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