Rock City withdraws bid to purchase SSNIT hotels

Rock City Hotel has abandoned its contentious offer to buy 60% of SSNIT's shareholding in four hotels.

This comes after organised labour launched an indefinite strike action in response to the National Pensions Regulatory Authority's (NPRA) acceptance of SSNIT's plan to sell a portion of its ownership in the facilities.

According to Dr Yaw Baah, Secretary General of the Trades Union Congress (TUC), the Union does not comprehend why the NPRA would allow SSNIT to proceed with the transaction without additional discussion after first ordering SSNIT to cease the activity.

As a result, TUC has urged its members to lay down their tools beginning Monday, July 15. On July 12, Dr. Baah told the media, "From Monday, July 15, 2024, all workers in Ghana must not go to work until SSNIT publicly announces the termination of the process for the sale of its shares in the hotels."

The hotel's management stated in a statement on Friday that "Flowing from all the commentary monitored and the undue negativity that has attended this commentary, we feel you have not done enough to engage all your stakeholders, leading to perceptions that we don't want to be associated with our brand."

"We believe that such hostility is not only harmful to our brand but also jeopardizes its success."

In light of this, Rock City has informed SSNIT "of our decision to withdraw our bid and discontinue our pursuit of this investment opportunity."

Following the declaration by organised labour, the Ghana Medical Association (GMA) took steps to encourage its members to lay down their tools on Monday, July 15. 

In a statement, the association stated that it will begin by discontinuing Out Patient Department (OPD) services from July 15 to 17. Emergency assistance will be provided between July 18 and July 21. 

The hospitals will cease to provide any services beginning in July 2022. The Judicial Service Staff Association of Ghana has also urged all employees not to report to work on Monday, July 15, 2024, until demands are addressed.

Source: Florence Kyei/Lead News Online