Bryan Acheampong’s bid for Labadi Beach Hotel was a little over $29m – Former MP discloses

The proposed sale of SSNIT’s majority stake in four hotels has sparked significant debate in the country, prompting a protest called “Hands Off Our Hotels.”

Samuel Okudzeto Ablakwa, the North Tongu MP, revealed that plans are underway to sell a 60% stake in four hotels owned by SSNIT to Rock City Hotel Limited, a company owned by Dr. Bryan Acheampong. Dr. Acheampong also serves as the MP for Abetifi and as the Minister of Agriculture.

Subsequently, Ablakwa petitioned the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate and halt the sale of six hotels, which included the Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.

On the other hand, the Social Security and National Insurance Trust (SSNIT) offered an explanation, stating, “Based on the criteria set out in the RFP, Rock City Hotel submitted the best and strongest technical and financial proposal among those received. Consequently, it is in negotiation with SSNIT to buy a 60% stake in each of the four hotels.”

Highest bid

During a panel discussion on UTV’s ‘Adekye Nsroma’ program, Collins Owusu Amankwah, former Member of Parliament (MP) for Manhyia North constituency, clarified that there were no instances of abuse of power, lack of due process, procurement breaches, or cronyism. He mentioned that Bryan submitted the highest bid, which was slightly over $29 million.

“Even if it was a high purchase, it is lawful in the country… the offer given by Rock City was higher than the rest. With Labadi Beach, Rock City offered twenty-nine million, four hundred thousand dollars; that was the highest bid. The second-highest bid was $18 million,” he stated.

Meanwhile, he has urged critics to refrain from criticizing SSNIT because they did nothing wrong in the transaction.

“We can’t claim to know more than the members of the SSNIT board… are we saying we are wiser than them? Institutions have been mandated to play a specific role, and we have institutional representatives appointed to lead those institutions,” he added.