Whose idea was it to sell SSNIT’s 25% shares in Grand Regency Hotel to Bryan Acheampong at a loss of GHS1.2m?

More revealing documents on the - Bromance.

These intercepted letters and minutes on how SSNIT sold its 25% shares in the Grand Regency Hotel, to Hon. Bryan Acheampong in 2022 must serve as a cautionary tale on how the latest transaction involving 6 hotels would be finalized if we don't stop the marauding cabal.

Interesting observations:

  1. Even though SSNIT's 25% shares in Grand Regency Hotel was valued at GHS8.6million, SSNIT was happy to sell to Bryan Acheampong at only GHS7.4million.

This means that the State, and Ghanaian workers in particular, lost a massive GHS1.2million in this deal;

  1. From the minutes on the negotiations, Bryan Acheampong's Rock City rejected SSNIT's request to have the valuation priced in US Dollars, and they also rejected SSNIT's suggestion to align their offer price with the prevailing - rate;
  2. Why has Bryan Acheampong been shockingly allowed to make his below-value payment in installments, despite enjoying exceptional preferential treatment?
  3. It is extremely worrying that Mr. Kofi Osafo-Maafo who chaired these soft, crony negotiations in which Ghana made huge losses has been promoted to Director-General of SSNIT, after his boss was disgracefully removed, and is now set to finish what he started with these 6 additional hotels.
  4. Whose great patriotic idea was it to quietly sell SSNIT's 25% shares in a profitable Grand Regency Hotel in Kumasi with an occupancy rate of 90% to Hon. Bryan Acheampong?

Ghanaian workers do not deserve this from their pension managers.

The dubious sale of the 6 hotels will be stopped — may not fail Ghanaians.

For God and Country. Ghana First 🇬🇭

Samuel Okudzeto Ablakwa

Samuel Okudzeto Ablakwa is North Tongu Member of Parliament and Former Deputy Minister for Education & Information. He is Ranking Member on Parliament's Commitee on Foreign Affairs

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