Palgrave Boakye-Danquah, government spokesperson on Governance and Security, has addressed concerns surrounding the sale of Social Security and National Insurance Trust (SSNIT) hotels under the President Akufo-Addo-led administration.
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Speaking on Joy Prime’s Prime Morning show, Boakye-Danquah clarified that the government’s intention is not to sell the hotels outright but to float shares to attract private sector investment and expertise.
His remarks come amidst criticism and protests led by Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, along with organized labor and civil society groups, urging the government to halt the transaction.
“There is no sale of hotels; it is floating of shares. Stop misleading Ghanaians; we are not selling any hotel; it’s the floating of shares; 60% of the shares,” Boakye-Danquah emphasized during the interview.
He refuted claims of “state capture” by opposition parties, asserting that the strategy to involve private sector investment in state-owned hotels is aimed at enhancing revenue generation without privatizing state assets.
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Boakye-Danquah criticized the Minority for misconstruing the government’s intentions, suggesting they have misunderstood the economic benefits of the investment strategy.
“The fact that Rock City has not made as much profit as they expected doesn’t mean that they cannot go ahead and purchase hotels; it doesn’t mean that the investment Rock City has made and the level of financial muscle they have will not give them the capacity to purchase more,” he explained.
Earlier in May, Samuel Okudzeto Ablakwa raised concerns about SSNIT selling a 60% stake in four hotels to Rock City Hotel, owned by Minister of Agriculture, Bryan Acheampong.
Despite calls for intervention, the Ghana Federation of Labour alleges that SSNIT is continuing discussions on the sale.
The issue has sparked debate over the government’s economic policies and the management of state-owned enterprises in Ghana.
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