Bryan Acheampong’s offer is $20 million more compared to other offers – Akomea

Nana Akomea, general director of the State Transport Company (STC) play the videoNana Akomea, general director of the State Transport Company (STC)

The Managing Director of the State Transport Company, Nana Akomea, has shared details of the offer made by Minister of Agriculture Bryan Acheampong’s company, Rock City Limited, to buy major shares in four hotels owned by the Social Security and National Insurance Fund (SSNIT).

Akomea revealed that Bryan Acheampong’s offer is $20 million higher than that of the second bidder interested in acquiring shares in the hotels.

He made these comments while appearing as a panelist on Good Morning Ghana on Metro TV, stating that selling shares in the four hotels makes financial sense.

“In bidding terms, Bryan Acheampong’s bid is worth at least $20 million more than the second bidder. The second bidder is a company famous for real estate construction, but I will not mention the name. His offer is $20 million less than Bryan Acheampong,” he revealed.

Akomea continued: “…There is a feeling that Acheampong’s offer is too much, but that’s all, and the record is there. I thought the Organized Union would say that if the bidders did not meet the valuation, then they would make a good case, but I am sure the valuation was met.”

Akomea defended Acheampong’s bid by emphasizing that the hotels are in poor condition and require significant investment.

He explained: “These places have been running out. They are losing money, and the economic argument is that every day they spend on the SSNIT books, they will incur more losses. “They can’t pay electricity, they can’t pay their staff, SSNIT contributions and even GRA tax as we speak, and pension funds are being blurred when these hotels remain on SSNIT books.”

However, SSNIT has justified its decision to sell a 60% stake in the hotels to Rock City Hotel, owned by Dr Bryan Acheampong, as his company submitted the best proposal.

The Trust says its goal is to partner with a strategic investor to raise capital for hotel investments and management.

The announcement of the sale prompted a petition by Member of Parliament, Samuel Okudzeto Ablakwa to the Commission on Human Rights and Administrative Justice (CHRAJ), requesting an investigation into the sale, in particular to the Minister of State and Member of Parliament (Dr Bryan Acheampong).

The hotels involved are Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort and Trust Lodge Hotel.

Meanwhile, both Samuel Okudzeto Ablakwa and key members of the Organized Union have expressed their disagreement with SSNIT’s reasoning for the sale.

Watch Nana Akomea’s performance from 18 minutes below


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