Google search engine

The leadership of The Forum has called for termination of the sale of 60 percent shares of hotels owned by the Social Security and National Insurance Trust (SSNIT) despite a directive by President Akufo-Addo for a discussion on the way forward. 

At a news conference in Accra on July 2, they proposed that SSNIT should deploy new management to revive the hotels instead of selling it.

According to them, the transactional advisors suggested that Rock City Hotel does not have the capacity to procure those hotels.

Chairman of The Forum, Isaac Bampoe Addo, said based on the recommendations by the transactional advisor, SSNIT should terminate the sale agreement immediately.

“The proposal offers an instalment plan with no confirmation of availability of funds, payment is based on the cash flow of Rock City Hotel with no credit enhancement from any bank”.

“The arrangement for the transfer of shares did not satisfy the objective of SSNIT,” he said.

General Secretary of GNAT, Thomas Musah Tanko said, the sale agreement should be terminated.

“The position of The Forum is that no, no, no to the hotels that are to be sold no and so shall it be, anybody that calls us, wherever the meeting may be, this is the position,” he stressed.

By Daniel Opoku