Controversy over SSNIT Hotel deal with Rock City unnecessary – Akufo-Addo

President Akufo-Addo has described the controversy surrounding the decision to cede some of the Social Security and National Insurance Trust (SSNIT) hotels to Rock City Hotels, owned by his Minister for Agriculture, Bryan Acheampong, as needless.

The issue gained significant attention after North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, and organised labour staged a protest, leading to a nationwide industrial action. They viewed the decision as a distress sale, especially considering that one of the hotels was profitable and was being transferred to a government appointee.

In response to the protests, organised labour announced plans to reform its representatives on the SSNIT board.

However, speaking at the 12th Quadrennial Delegates Congress of the Trades Union Congress, President Akufo-Addo emphasised that the controversy was unnecessary.

Contrary to claims that SSNIT is being mismanaged, the president highlighted the GH₵230 million profit made by SSNIT, which he argued demonstrates the agency’s strong financial performance.

He suggested that this success should alleviate concerns over the trust’s decision to sell off some of its non-performing assets.

Following the protests by organised labour, SSNIT was compelled to abandon its plan to sell a major stake in four of its hotels.

Nonetheless, President Akufo-Addo urged the nation to be cautious in making comments that could harm SSNIT’s long-term interests.

He also called on organised labour to engage more with the government to address their concerns, rather than resorting to strikes.