Management of Rock City has withdrawn its intention to acquire 60% shares in four of SSNIT’s hotel portfolio.
This followed intense public outcry over allegations of procurement breaches in the lead up to the acquisition.
Rock city, the hotel conglomerates that belongs to the Minister of Agriculture, announced its decisions to pull out from the deal, citing intense outcry from some stakeholders and sustained media commentary on the deal.
The letter dated July 09, 2024, also took SSNIT on for not doing much to address some of the concerns its stakeholders had raised about the deal, a move they believed could injure the reputation of Rock City.
This comes a day after the Minister of Pensions, Ignatius Baffour Awuah, had indicated to parliament that the National Pensions Regulatory Authority had given SSNIT the greenlight to procced with the deal.
According to the Minister, NPRA’s intervention was to enable the regulator to become abreast of all the issues that had been raised about the deal.
He added that having been furnished with all relevant information on the deal, the NPRA had indicated SSNIT to proceed with the deal.