The leadership of The Forum has called for the termination of the sale of 60 percent of the shares in hotels owned by the Social Security and National Insurance Trust (SSNIT), despite a directive from President Akufo-Addo to discuss the way forward.
They propose that SSNIT should deploy new management to revive the hotels instead of selling them.
According to The Forum, transactional advisors indicated that Rock City Hotel lacks the capacity to acquire these hotels.
Dr. Isaac Bampoe Addo, Chairman of The Forum, stated that based on the recommendations from the transactional advisors, SSNIT should terminate the sale agreement immediately.
He pointed out that the proposal involves an installment plan without confirmed funding, with payments dependent on Rock City Hotel's cash flow and no credit enhancement from any bank.
Additionally, he mentioned that the share transfer arrangement did not meet SSNIT's objectives.
Thomas Musah Tanko, General Secretary of GNAT, echoed the call to terminate the sale agreement.
Mr. Thomas Musah emphasized The Forum's firm stance against the sale of the hotels, stating, "No, no, no to the hotels being sold, and so shall it be. This is our position, regardless of any meetings or discussions."
Source: Clinton Akwasi Amoako/Peace FM News
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