The Trade Union Congress (TUC) has issued a severe warning to the Social Security and National Insurance Trust (SSNIT) to block the reported sale of 60% of its ownership in four hotels to Rock City Hotel, owned by MP and Minister for Agriculture Bryan Acheampong.
Dr Isaac Bampoe Addo, the Head of the Civil and Local Government Staff Association of Ghana (CLOGSAG), stated during a news conference on Monday, May 20, that SSNIT has breached various investment criteria, and the union will not give up in its efforts to halt the process.
The union would not permit SSNIT to sell these properties to any individual, particularly a minister of State, on the grounds that these properties belonged to the public and SSNIT was merely administering them.
“We want government to know that these funds are not government funds. These funds are pension funds and pensions are guided by Act 766. We have investment guidelines under Act 766 and clearly, these guidelines have not been followed.
“Government should be aware that we will not allow them to play 'chaskele' with our funds. Should they dare go ahead, it will be the mother of all strikes in Ghana,” he explained.
Dr. Yaw Baah, the Secretary-General of TUC, expressed doubts about the packaging and sale of SSNIT's ownership of the six hotels, as if they are all facing financial difficulties.
“We find it extremely difficult to understand why SSNIT's interest in six hotels will be packaged and sold as if all the hotels are in the same financial position,"he said.
“We find it difficult to understand why the original proposal of the sale of SSNIT's interest in six hotels has reduced to four. We hold the view that this renders the whole process null and void. We have observed that the proposed the payment terms have varied from the original MoU [Memorandum of Understanding] based on the recommendations,” he added.
According to Dr. Yaw Baah, the union finds it challenging beyond comprehension why a politician and minister of state will be interested in taking over state-owned assets as his personal properties.
He then called for immediate reversal/halt of the transaction.
