Director of Communications for the ruling New Patriotic Party (NPP), Richard Ahiagbah says the decision by the Social Security and National Insurance Trust (SSNIT) to terminate sales of four hotels following public protests and strikes can harm corporate governance, market confidence, and overall certainty.
He believes the Board and Management of SSNIT were forced to terminate the sales of the hotel due to political interference from the minority.
According to him, the development of the sales of SSNIT hotels can open the door to future interference in public offerings based on political affiliations.
“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.” He said.
“However, while this may seem like a victory worth celebrating, we 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.” Ahiagbah added.
His comment comes after SSNIT in a press release said “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.”
The termination follows a protest led by the NDC Member of Parliament for North Tongue Constituency, Hon. Samuel Okudzeto Ablakwa against the sale of the SSNIT hotels.
But the NPP Communicator said the authorities must deeply reflect on the potential long-term consequences of this precedent.
“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.” Richard Ahiagbah stated.
Source: Elvisanokyenews.com
