The Board and Management of the Social Security and National Insurance Trust (SSNIT) have terminated their decision to seek strategic investors for 59% of the shares in four of its hotels.
This was contained in a statement issued and signed by Madam Elizabeth Orhene, the board chair.
This comes after Rock City Hotel, owned by Bryan Acheampong, the Minister of Agriculture, wrote officially to SSNIT, informing it of his decision to withdraw from the bid to purchase the hotels.
Rock City Hotel has withdrawn its bid to purchase the 60 percent shares of some four hotels owned by the Social Security and National Insurance Trust.
The company’s decision to withdraw its bid came after organised labour threatened to embark on a strike on Monday, July 15, if SSNIT goes ahead with the decision to sell the hotels to Rock City Hotel.
In a letter addressed to the Director-General of SSNIT, Mr. Kofi Osafo-Maafo, Rock City Hotel said it was disappointed at the lack of stakeholder engagement, which they believe has led to the negativity surrounding their bid.
“Flowing from all the commentary monitored and the undue negativity that has attended this commentary, we feel you have not done enough to engage all your stakeholders, leading to perceptions that we don’t want to be associated with our brand.”
“We believe that such negativity is not only injurious to our brand but also jeopardises the success of the investment we intend to make in these hotels.”
The latest statement from the Board and Management of SSNIT assured pensioners and contributors that SSNIT remains committed to managing the affairs of the Trust prudently for the sustainability of the Scheme.
By: Rainbowradioonline.com/Ghana
