A JoyNews research has revealed that the Social Security and National Insurance Trust (SSNIT) outlined seven pre-qualification criteria for all prospective buyers of a 60% stake in six hotels belonging to the Trust.

In an advertisement document sighted by JoyNews, SSNIT said its objective ”is to develop its owned hotels into world class standard in their respective categories and is therefore seeking capital injection from competent strategic investors with expertise in owning and managing hotels and/or development of real estate to finance these developments.”

According to SSNIT, based on the “technical and financial evaluation”, the Rock City Hotel owned by the Minister for Food and Agriculture and Member of Parliament for Abetifi Constituency, Bryan Acheampong emerged the best.

“A total of nine (9) companies responded to the advertisements by submitting proposals on the 23rd March, 2022 deadline. Six (6) out of the nine (9) were then shortlisted and issued with Request for Proposal (RFP) documents,” the Trust stated in a statement released on 19th May, 2024.

In an advertisement document published by SSNIT in 2022 with project number: GR/SSNIT/CS/0001/2022, the Trust stated that interested firms should include the following information in their expression of interest:

1. Legal status of firm (evidence of registration/incorporation);
2. Profile of firm, including key financials for the last three years, history and ownership structure;
3. Relevant credentials in hotel industry;
4. CV of key personnel;
5. Valid SSNIT and GRA clearance certificates for firms registered in Ghana;
6. The preferred hotel or hotels in which the firm wants to participate;
7. Sources and proof of funding

SSNIT also published the following information about the six hotels available for sale (60% stake).