Govt’s failure to halt sale of SSNIT hotels strange – Ohene Ntow

Nana Ohene Ntow, a campaign aide for the Movement for Change, has expressed shock over the government’s failure to stop the controversial sale of Social Security and National Insurance Trust (SSNIT) hotels to Rock City Hotel.

During an interview on The Big Issue on Channel One TV, hosted by Selorm Adonoo, Nana Ohene Ntow questioned the government’s reluctance to cancel the controversial sale of SSNIT hotels despite widespread public opposition.

He passionately argued against the sale of Labadi Beach Hotel, citing its consistent profitability over the years and making a strong case for its exclusion from the list of hotels slated for privatisation

The Campaign Aide of Movement for Change said Lababi Beach Hotel is a performing asset, labelling its sale to a cabinet minister as “improper”.

“I think whatever the procedure may be, a state agency sold to a cabinet minister is improper. I’m not saying it’s illegal or unconstitutional, I’m saying it is not proper, and it doesn’t sit well… It doesn’t make sense that the hotels are all loss-making. The facts on the ground don’t support that position. At least not for Labadi Hotel.

“The information I have and when I checked is that in 2022, Labadi Hotel declared a dividend of GHC25 million to the sole shareholder SSNIT.

He stressed, “TUC has waded into this matter because it involves workers’ monies and pensions. So how can the government divest itself of an investment that is financed by workers’ contributions into a public pension fund? And the government decides not to listen, I find that very strange. And I find a defence of that kind of transaction not acceptable to the people of Ghana.

“At least the Labadi Beach Hotel is a performing asset. And if it is a performing asset, then it’s completely improper for the government under any circumstance to try and divest it into a private hand… Here is a cabinet minister of state, with one leg in government, and one leg in business. That is already controversial.”

Nana Ohene Ntow urged President Nana Akufo-Addo to step in and intervene in the controversial sale of Labadi Beach Hotel, by heeding to public’s sentiments of protecting state assets.

“I think that public decency requires that if the government is dealing with public funds, pension funds, workers’ funds, and at least the TUC has spoken. I think the government must listen… I think the government must unpack the whole transaction properly.

Source : Citi newsroom

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