MP Ablakwa Hails NPRA's Suspension of SSNIT Stake Sale as "Initial Victory

Member of Parliament of North Tongu, Samuel Okudzeto Ablakwa, has described the National Pensions Regulatory Authority's (NPRA) suspension of the Social Security and National Insurance Trust's (SSNIT) controversial sale of its stake in four hotels as an "initial victory."

In a press release, the NPRA announced the suspension of SSNIT's stake sale to the Minister of Food and Agriculture's Rock City Hotel. The Authority stated that this suspension would allow it to properly evaluate the documents associated with the sale of these hospitality facilities.

This decision follows a week after hundreds of demonstrators gathered at the Labadi Beach Hotel for the "Hands Off Our Hotels" demonstration. The main objective of the protest was to exert pressure on the government to immediately halt the proposed sale of a 60 percent stake in four prominent hotels.

Speaking on Joy FM’s Top Story, Mr. Ablakwa said that although this was a positive development, he is looking forward to the cancellation of the entire sale. “This is an initial victory, it is not the final victory. It is a significant development, a very positive one. We are demanding a cancellation, not a suspension, and that is why I call it an initial victory,” he said on June 28.

He emphasized that this situation proves that a lot can be achieved when the nation comes together. He urged citizens to continue collaborating to ensure that the government follows the right path.

Meanwhile, Mr. Ablakwa called on the NPRA to ensure that the sale is thoroughly investigated and subsequently halted. “We do not want this to be a trick where, when it appears that discussions have died down and people are not watching, this deal is reactivated. So we will be watching keenly, and we expect that eventually, this whole conflict of interest transaction, which violates multiple laws of our country, will be thrown out of the window,” he added.

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