SSNIT hotels: Rock City wasn’t given preferential treatment – Bryan Acheampong

The
Minister
for
Agriculture
and
owner
of
Rock
City
Hotel,
Bryan
Acheampong,
has
dismissed
allegations
of
preferential
treatment
in
the
proposed
sale
of
the
60
percent
stake
in
four
hotels
owned
by
the
Social
Security
and
National
Insurance
Trust
(SSNIT).

Samuel
Okudzeto
Ablakwa,
the
North
Tongu
MP,
claimed
that
Rock
City
was
allowed
to
pay
half
of
the
bid
price
and
spread
the
remaining
half
over
24
months,
despite
not
having
tax
clearance.

He
also
noted
that
the
hotel
did
not
present
a
bank
guarantee
for
the
transaction.

“If
you
read
the
transaction
advisors
report,
it
is
clear
that
transaction
from
the
beginning
as
I
said
was
an
insider
dealing…It
reveals
that
Rock
City
was
allowed
to
make
an
offer
to
pay
half,
50%
of
the
$61
million
bid
price
and
then
they
were
allowed
to
spread
the
half
over
24
months…
Something
that
was
not
made
available
to
other
bidders.”

“All
bidders
were
told
that
this
is
a
one-off
transaction,
no
instalment
and
yet
Rock
City
was
allowed
an
instalment
plan.
The
transaction
advisor
also
discovered
that
Rock
City
did
not
present
a
bank
guarantee,”
he
stated.

In
response
to
these
allegations,
Mr
Acheampong
stated
in
an
interview
with
Umaru
Sanda
Amadu
on

Eyewitness
News
on

Citi
FM
on
Friday,
that
“Rock
City
Hotel
was
not
given
any
preferential
treatment.”

He
stressed
that
the
bid
to
acquire
the
SSNIT
hotels
was
conducted
transparently
and
fairly,
with
no
special
considerations
given
to
his
hotel.

“I
continuously
express
my
disappointment
in
Okudzeto
for
continuing
hammering
on
points
that
he
has
no
facts.
First
of
all,
Rock
City
was
not
given
an
exemption
on
tax
clearance.
They
were
not.
I
am
told
they
submitted
their
bid
in
February
2022.

“In
February
2022
they
need
to
have
filed
their
taxes
for
2021
by
April
2022.
So
even
as
of
2022
when
they
applied
for
the
tender,
their
2021
taxes
were
not
due.
So,
you
are
given
a
provisional
tax
clearance
based
on
the
VAT
and
all
other
taxes
that
you
have
paid.”

“So,
it
is
not
true
that
Rock
City
was
given
any
preferential
treatment
or
did
not
have
tax
clearance…Sammy
knows
that
but
he
continuously
tries
to
mislead
the
public.

“During
the
negotiations,
I
am
told
Rock
City
proposed
to
pay
50%
and
the
remaining
50%
spread
over
two
years.
That
was
when
SSNIT
requested
a
bank
guarantee
and
it
was
a
point
that
Rock
City
had
been
offered
as
the
preferred
bidder.
They
were
the
only
ones
negotiating
with
SSNIT
because
all
the
others
had
not
gotten
to
the
negotiation
stage,”
he
stated.

Meanwhile,
Rock
City Hotel
has
withdrawn
its
bid
to
purchase
the
60
percent
shares
of
some
four
Hotels
owned
by
SSNIT.

The
hotels
include
La
Palm
Beach
Hotel,
Labadi
Beach
Hotel,
Royal
Ridge
Hotel
and
Elimina
Beach
Hotel.