NPRA okays SSNIT’s negotiations with Rock City – Labour Minister

The National Pensions Regulatory Authority (NPRA) has given the Social Security and National Insurance Trust (SSNIT) the go-ahead to continue negotiations with Rock City Limited for the sale of 60 percent shares in four hotels.

Mr. Ignatius Baffour Awuah, Minister for Employment and Labour Relations, disclosed this on the floor of Parliament on Thursday in response to an urgent question filed by Mr. Samuel Okudzeto Ablakwa, Member of Parliament for North Tongu.

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

The Minister explained that SSNIT had initially suspended its engagement with Rock City Limited pending the provision of full documentation related to the sale of the shares by NPRA.

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