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There’s no illegality in selling 60% stake of SSNIT’s hotels – Dr Palgrave Boakye-Danquah

Government spokesperson on governance and security,Dr Palgrave Boakye-Danquah, has said that Samuel Okudzeto Ablakwa’s accusations against the Rock City Hotel to be baseless.

In a fierce defense of Dr. Bryan Acheampong, the Minister of Food and Agriculture, Dr Palgrave Boakye-Danquah stated that Honorable Ablakwa’s charges are a premeditated attempt to damage the reputation of Ghana’s largest hotel, Rock City.

“ Samuel Okudzeto Ablakwa has been spreading false and deceptive accusations about Rock City, a major hotel in Ghana, with the intention of inciting hatred. These accusations are vile. I can’t help but think that outside powers, believing that Ghanaians are incapable of managing such a massive project as Rock City, are behind this entire agenda. ”.

He rejected what he claimed to as Honorable Ablakwa’s allegations that Rock City acquired SSNIT hotels without going through a competitive bidding process.

The acquisition of Rock City was the outcome of a carefully managed International Competitive Tendering (ICT) procedure, Palgrave Boakye-Danquah emphasized.

He said that this procedure was carried out in accordance with the Public Procurement Act 2003 (ACT 663) of the country, as revised by ACT 914. He also said that the procedure was so meticulous that it removed any possibility of dispute regarding the validity of the acquisition.

Therefore, he declared that any allegations that the Rock City Hotel violated the rules governing competitive bidding are baseless and intended simply to mislead the general public.

“Offers of interest were invited by SSNIT, which issued notices in the Ghanaian Times, The Economist, and Daily Graphic. Engaging in this process, Rock City put in a full bid and, after a careful analysis of its financial and technical offerings, was determined to be the best partner. As such, allegations of non-compliance with competitive bidding procedures are baseless and merely attempt to mislead the public.

Palgrave Boakye-Danquah went into further detail regarding the financial challenges that SSNIT’s hotel portfolio is facing. Among the hotels in his portfolio are La Palm Royal Beach Resort and Elmina Beach Resort, among other well-known establishments.


He made the argument that these hotels have historically had difficulty turning a profit or giving retirees dividends, and he brought up the fact that SSNIT has frequently been forced to make up the difference between staff salaries and operating costs, such as power bills, further taxing its limited resources.
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The Labadi Beach Hotel is the sole outlier, according to Dr Palgrave Boakye-Danquah, who also pointed out that the hotel has managed some profitability but that its total dividend payout over a 15-year period is only GHC 48 million.

Therefore, he stated that it is unrealistic to expect fast profit given the hotel’s current developmental stage.

Dr Palgrave Boakye-Danquah also underlined that Rock City and its stockholders have a tremendous desire to increase their footprint throughout all regions, a goal that both justifies and ought to inspire them given their current financial circumstances.

In addition, Dr Palgrave Boakye-Danquah questioned the veracity of Honorable Ablakwa’s allegations by pointing out that Rock City had not yet submitted its taxes for 2023.

He accused the opposition National Democratic Congress member of parliament, Honorable Ablakwa, of inventing lies to mislead the public and urged him to provide the sources of his information.

The official government spokesperson for governance and security closed by emphasizing the legality and openness of Rock City Hotels’ acquisition of SSNIT properties and connecting it to the larger issues that SSNIT’s hotel portfolio is currently facing.

He demanded an end to baseless claims that only serve to mislead the public and diminish the accomplishments of Ghanaian businesses.