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HomeNewsRock City Hotel presented best proposal for 60% share in four hotels...

Rock City Hotel presented best proposal for 60% share in four hotels – SSNIT

The Social Security and National Insurance Trust (SSNIT) has provided an explanation for its choice to offer Dr. Bryan Acheampong, the Minister of Food and Agriculture, Rock City Hotel, a 60% ownership part in its hotels.

The response from SSNIT comes after Ablakwa, MP for North Tongu, petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to look into and halt the sale of six hotels to the Abetifi MP. The hotels are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

In his appeal to CHRAJ, Mr. Ablakwa calls for an examination of a number of charges, including graft, conflict of interest, misuse of authority, infractions of the procurement laws, and lack of due process.

“Through my petition, I am requesting that CHRAJ look into serious issues related to cronyism, graft, lack of due process, abuse of power, and procurement violations.

“As thorough investigations by Parliament’s Committee on Office of Profit reveal that Hon. Bryan Acheampong has not applied for and does not have the Speaker of Parliament’s approval to hold an office of profit, I have also called attention to flagrant violations of Article 78(3) and 98(2) of the 1992 Constitution,” he said.

In response, SSNIT stated that the choice to work with an investor was made in order to raise money for both management and hotel investments. This process began as early as 2018 and was carried out in accordance with Public Procurement Act guidelines through International Competitive Tendering (ICT) procedures.

The trust said in a news release that the process began in November 2018 after it hired a transaction advisor to help with the process of choosing a strategic investor, among other things.

“The Trust initiated the procedure by hiring a transaction advisor via the ICT method of procurement and by publishing advertising in the Ghanaian Times and the Daily Graphic on November 14 and 15, 2018, respectively.

Additionally, the advertising appeared in The Economist, a global magazine, in its January 5–11, 2019 edition.
By the deadline on January 16th, 2019, fifteen (15) companies had indicated their interest in placing bids. Six (6) of them made the short list and received RFP (request for proposal) materials.

“On December 12, 2019, the Central Tender Review Committee (CTRC) was asked for approval, and on December 24, 2019, that approval was given for the appointment of a transaction advisor. After the independent transaction advisor was chosen to help in the process of choosing a strategic investor, among other things, more ads for an Expression of Interest (EOI) for a strategic partner for the SSNIT Hotels were published in the Ghanaian Times on February 7, 2022, and the Daily Graphic on February 3, 2022. On February 26, 2022, the advertising was also featured in The Economist Magazine.

“Out of all the proposals received, Rock City Hotel’s technical and financial proposal was the finest and strongest, according to the RFP’s criteria. In order to purchase a 60% interest in each of the four hotels—the Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel, and Elmina Beach Resort—it is now negotiating with SSNIT.

“The hotels covered in this process no longer include the Trust Lodge and Busua Beach Resort, as their bids were deemed unsuccessful.”

Kindly read a press release from SSNIT: