Getting strategic investor for four hotels not yet concluded, says SSNIT

The Social Security and National Insurance Trust (SSNIT) says it is committed to managing the affairs of the Trust prudently for the sustainability of the pension scheme

The Social Security and National Insurance Trust (SSNIT) says the process of getting a strategic investor is in its final stages and therefore not yet concluded

The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, in a recent post on his social media handles after a television discussion on Metro TV indicated that he has lodged a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate allegations surrounding the sale of six hotels by the Social Security and National Insurance Trust (SSNIT) to the Food and Agriculture Minister, Dr Bryan Acheampong.

In a statement on Sunday (19 May), SSNIT said it,  “will cooperate fully with CHRAJ throughout its investigation process.”

“SSNIT further wishes to assure pensioners, contributors and the public of its commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme,” the statement added.

SSNIT clarified that the Rock City Hotel participated in a legitimate bid and emerged as the winner following their presentation of the best and strongest technical and financial proposal amongst those received by the Trust.

It noted that it went through International Competitive Tendering (ICT) processes as prescribed by the Public Procurement Act, 2003 (ACT 663), as amended by ACT 914, for the selection of a strategic investor.

The Trust commenced the process with the engagement of a Transaction Advisor through the ICT method of procurement, with publication of advertisements in the Daily Graphic on 14 November, 2018 and in the Ghanaian Times on 15th November, 2018.

The advertisement was also published in an international magazine, The Economist in its January 5-11, 2019 edition.

Read the full statement below:

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