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North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has intercepted some documents containing the financial statements of Labadi Beach Hotel, one of the hotels which SSNIT is selling off to the Minister of Agriculture, Bryan Acheampong.

According to the North Tongu MP who made the sale of the hotels public, he also has in his custody the 2023 management account of Labadi Beach Hotel which indicates the two entities are doing well.

Contrary to government’s claim that the hotels are doing bad, for which reason it needs a strategic investor to make them viable, the lawmaker says “the financials reveal that Labadi Beach Hotel has cash reserves in 5 bank accounts amounting to an impressive GHS54,855,795.00.”

He added that, “Labadi Beach Hotel from the 2022 Deloitte financial statement had a turnover of GHS120,438,655. From the 2023 management account, this has commendably increased to GHS188,076,649.00.

“Labadi Beach Hotel in 2022 posted a gross profit of GHS70,734,099.00 — a figure which astonishingly more than doubled by 2023 to GHS158,490,448.00. In addition to dividends, Labadi Beach Hotel over the last 5 years has paid a significant GHS20,318,232 in taxes to government,” a post he made on X contained.

Find the full documents in the link below: