Rock City Hotel presented the best offer for majority stake in our four hotels – SSNIT | The Social Security and National Insurance Trust (SSNIT) says the Rock City Hotel presented the best and strongest technical and financial proposal amongst the six shortlisted companies desirous of acquiring a majority stake in selected SSNIT-owned hotels located in different parts of the country.
SSNIT’s strategic decision to divest 60% of its stake in the six (6) hotels in its investment portfolio to raise funds and for a strategic private sector company to assist in the management of those hotels, some of which needed capital injection to be competitive and profitable, has generated a lot of discussions in the public space.
While some have questioned why the Rock City Hotel, a reputable hospitality company in which a sitting Member of Parliament has a stake, SSNIT in a press release issued on May 19, 2024 explained that the selection process was very transparent and Rock City Hotel won the bid with a superior offer.
“A total of nine (9) companies responded to the advertisements by submitting proposals on the 23rd March, 2022 deadline. Six (6) out of the nine (9) were then shortlisted and issued with Request for Proposal (RFP) documents. The qualifying firms were invited for the opening of their financial proposals. Based on the technical and financial evaluation, the Rock City Hotel emerged
the best.
Based on the criteria set out in the RFP, Rock City Hotel submitted the best and strongest technical and financial proposal amongst those received. Consequently, it is in negotiation with SSNIT to buy a 60% stake in each of the four (4) hotels (Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel and Elmina Beach Resort).
Bids for Busua Beach Resort and the Trust Lodge were considered to be unsuccessful so they are no longer part of the
hotels covered in this process. The process of getting a strategic investor is in its final stages and therefore not yet concluded.”
Rock City Hotel
The Rock City Hotel, owns and manages one of Africa’s largest hotels located in the picturesque Kwahu-Nkwatia mountains in the Eastern Region of Ghana. Rock City Hotel is a beacon of opulence and excitement. With over 600 meticulously designed rooms currently in operation, it redefines luxury accommodation while offering thrilling adventures like paragliding and canopy walkways. The facilities are been expanded and when completed, Rock City will be Africa’s and one of the world’s largest hotel resorts, with over 2,200 rooms fitted with unrivaled amenities and facilities.
CHRAJ Petition:
The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has lodged a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate allegations surrounding the “sale” the of six hotels.
“In my petition, I am inviting CHRAJ to investigate grave matters bothering on conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and graft.”
“I have also drawn attention to blatant violations of Article 78(3) and 98(2) of the 1992 Constitution as diligent checks from Parliament’s Committee on Office of Profit reveal that Hon. Bryan Acheampong PhD, has not applied and does not have the permission of the Speaker of Parliament to hold an office of profit,” he wrote on his Facebook page. Rock City Hotel presented the best offer for majority stake in our four hotels – SSNIT
By Papa Kojo Nimako | AviationGhana
