The Director of Communications of the New Patriotic Party (NPP) Richard Ahiagbah has said that the recent halt of the attempt by the Social Security and National Insurance Trust (SSNIT) to sell 60% of its shares in the five hotels is a testament to the power of organized labor and advocates.
He said the unwavering dedication of labour to the sale has prevailed, sending a clear message.
However, he added, while this may seem like a victory worth celebrating, Ghanains must also consider the precedent we have set.
“Are we opening the door to future interference in public offerings based on political affiliations? This could harm corporate governance, market confidence, and overall certainty.
“Just as we are bound to respect a referee’s decision in a football game, we must also abide by the outcomes of democratic processes, even if they don’t align with our preferences. While I empathize with the workers’ concerns, we must also consider the implications of impeding a legitimate corporate decision. We must deeply reflect on the potential long-term consequences of this precedent,” he wrote on X.
The recent halt of SSNIT’s attempt to sell 60% of its shares in the five hotels is a testament to the power of organized labor and advocates. Their unwavering dedication to the sale has prevailed, sending a clear message.
However, while this may seem like a victory worth… pic.twitter.com/bHORrzNJWx
— Richard Ahiagbah (@RAahiagbah) July 13, 2024
His comments come after SSNIT announced its discontinuation of the sale of the 60% shares in the four hotels.
This comes after several labour unions announced their decision to embark on a nationwide strike following approval by the National Pensions and Regulatory Authority (NPRA) for SSNIT to procced with the sale of 60% shares in the four hotels.
A statement released by SSNIT on Friday, July 12 announced to the public the termination of the controversial sale of the shares in the hotels.
“The Board and management of Social Security and National Insurance Trust (SSNIT) wish to inform the public that the process to divest 60% of SSNIT’s stake in the hotels has been terminated,” Board Chair of SSNIT Elizabeth Akua Ohene said in the statement.
SSNIT assured pensioners and contributors of managing the affairs of the Trust “prudently for the sustainability of the Pension Scheme.”
