Ablakwa Leads Protest Against Potential SSNIT Stake Sale in Six Hotels Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has spearheaded a protest against the potential sale of the Social Security and National Insurance Trust (SSNIT)’s stake in six hotels. The move comes after reports emerged that SSNIT was considering selling its shares in the following hotels: * Accra City Hotel * Golden Tulip Hotel, Kumasi City * Akosombo Hotel * Novotel, Accra City * Labadi Beach Hotel * Alisa Hotel Ablakwa condemned the reported sale, describing it as a “brazen daylight robbery” that would deprive future generations of Ghanaians of valuable assets. He led a group of protesters to the SSNIT headquarters in Accra, chanting slogans such as “Hands off our hotels” and “SSNIT, protect our future.” The protesters argued that the hotels were vital revenue generators for SSNIT and played a crucial role in sustaining the social security scheme for pensioners. They expressed concern that the sale would deplete SSNIT’s assets and compromise the financial stability of the trust. Ablakwa also raised concerns about the transparency and accountability of the potential sale process. He demanded that the government provide a full disclosure of the intended buyer, the sale price, and the rationale behind the decision. SSNIT management has not yet officially announced its plans to sell the hotel stakes. However, the trust has indicated that it is reviewing its investment portfolio and may consider divesting from non-core assets to improve its financial performance. The protest highlights the growing public concern over the privatization of state-owned assets in Ghana. Critics argue that such sales often benefit a small group of wealthy individuals while undermining the long-term economic interests of the country. The government has not responded to Ablakwa’s protest or the concerns raised by the protesters. It remains to be seen whether SSNIT will proceed with the sale of its hotel stakes and whether the government will intervene to address the public’s concerns.Protest Against Potential Sale of SSNIT-Owned Hotels
Protest Against Potential Sale of SSNIT-Owned Hotels Protesters have gathered at the Labadi Beach Hotel in Accra to demonstrate against the possible sale of a 60% stake in six hotels owned by the Social Security and National Insurance Trust (SSNIT) to the Minister-owned Rock City Hotel. The hotels in question are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel. Protest Leaders and Demands The “Hands Off Our Hotels” protest is led by North Tongu MP Samuel Okudzeto Ablakwa and involves representatives from La. Ablakwa and other stakeholders have questioned the process that led to the selection of Rock City as the viable entity for the purchase of the hotels. SSNIT’s Response SSNIT previously defended the move, citing an International Competitive Tendering process. The trust stated that Rock City Hotel submitted the best technical and financial proposal. Allegations of Corruption and Conflict of Interest Ablakwa claims that the sale violates tender procedures and is a form of state capture. He also alleges that the owner of Rock City Hotel, Bryan Acheampong, violated the Constitution by holding a professional position while being a government official. SSNIT’s Reserves Depletion A recent report by the International Labor Organization predicts that SSNIT’s reserves will be completely depleted by 2036 due to insufficient contributions and income. The report raises concerns about the long-term viability of the trust and the future of its beneficiaries. Conclusion The protest highlights the concerns of citizens and stakeholders over the potential sale of SSNIT-owned hotels. The allegations of corruption, conflict of interest, and the depletion of SSNIT’s reserves have fueled public outrage and calls for transparency and accountability in the management of public assets.
Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, led a protest march against the possible sale of SSNIT’s stake in six hotels. The protest was organized by the Concerned Ghanaian Citizens Association and took place in Accra. Ablakwa argued that the sale of the hotels would be a “betrayal” of the Ghanaian people. He said that the hotels were a valuable asset that should be kept in public hands. “These hotels are part of our national heritage,” Ablakwa said. “They should not be sold off to private interests.” The protesters marched to the headquarters of SSNIT, where they delivered a petition to the management. The petition called on SSNIT to halt the sale of the hotels and to engage in a transparent dialogue with the Ghanaian people about the future of the hotels. SSNIT has not yet commented on the protest. However, the government has previously said that it is considering selling SSNIT’s stake in the hotels as part of a broader plan to reduce the government’s debt. The sale of SSNIT’s stake in the hotels is a controversial issue. Some people believe that the sale would be a good way to raise money for the government. Others believe that the sale would be a mistake and that the hotels should be kept in public hands.
