NPRA gives SSNIT greenlight to continue negotiations with Rock City, says Employment Minister

The National Pensions Regulatory Authority (NPRA) has given the Social Security and National Insurance Trust (SSNIT) the green light to go ahead with its ongoing negotiations with Rock City over the sale of four hotels.

It comes after the National Pensions Regulatory Authority concluded engagements and evaluation of facts associated with the matter.

The NPRA had earlier directed the SSNIT) to suspend its ongoing negotiations with Rock City Hotel over the sale of the four hotels.

The four hotels are Labadi Beach Hotel, La Palm Royal Beach Hotel, Elmina Beach Resort and Ridge Royal Hotel.

Answering an urgent question on the floor of Parliament on Thursday (11 July), the Minister of Employment and Labour Relations, Ignatius Baffour Awuah revealed that the NPRA is satisfied with the documents and has asked SSNIT to go ahead with the sale negotiations with the selected bidder.

“Yes, NPRA indeed came up with a directive, but I would appreciate it if my brother, my colleague, really read the directive from the NPRA. It said it needed to be furnished with all information relating to the sale of the hotels, which SSNIT has since done.”

“So it wasn’t that it [SSNIT] should not go ahead to do anything, but then it can only go ahead when NPRA, which is the regulator within the field, had actually certified that they had seen all the documentation and the processes, and they think that we are good to go.”

“So as a minister, I can tell you an authority that NPRA has since indicated that they have seen the processes and think SSNIT can go ahead,” he said.

Listen to Ignatius Baffour Awuah in the attached audio clip below:

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