The National Pensions Regulatory Authority (NPRA) has asked the Social Security and National Insurance Trust (SSNIT) to suspend all negotiations geared at selling its hotels to Rock City.
The Member of Parliament for North Tongu, Okudzeto Ablakwa has raised issues of conflict of interest in the sale of 60% shares in Labadi Beach Hotel, LA Palm Royal Beach Resort, Ride Royal Hotel, and Elmina Beach Resort to Mr. Bryan Acheampong’s Rocky City Hotel.
Mr. Bryan Acheampong has said he has done no wrong as he has distanced himself from the day-to-day operations of Rock City Hotel.
He said although he owns the company, he does not involve himself in the decisions that they take.
The Social Security and National Insurance Trust (SSNIT) has also denied any foul play in its decision to sell a 60% stake in its hotels to Rock City Hotel.
However, in a letter addressed to SSNIT NPRA stated “As you may be aware, section 67 (2) of the [National Pensions] Act requires us to issue relevant guidelines to guide your investment decisions.”
“In furtherance of this requirement, you are hereby directed by the Board of the Authority to suspend all the processes seeking to engage Rock City Hotel as the Strategic Investor in a matter of the sale of the above hotels.”
Attached is the full letter from NPRA
