Minister Bryan Acheampong Denies Claims of Rock City Hotel’s Financial Losses Amid Controversy

by Louisa Afful
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Food and Agriculture Minister, Bryan Acheampong, has dismissed claims by North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, that his hotel, Rock City, is facing financial losses. Acheampong refuted allegations that Ablakwa had intercepted documents from the Ghana Revenue Authority (GRA) suggesting Rock City’s poor financial performance.

In response to Ablakwa’s assertions during a parliamentary session, Acheampong defended Rock City’s financial health, stating unequivocally, “Rock City is not making losses. There is no one anywhere who can say that Rock City is making losses.” He criticized Ablakwa and other critics for exaggerating the hotel’s financial situation, accusing them of spreading misinformation.

The controversy arose following discussions about the proposed sale of Social Security and National Insurance Trust (SSNIT)’s stake in several hotels, including Rock City. Ablakwa had questioned Acheampong’s expertise in hotel management and challenged the rationale behind SSNIT’s potential divestiture to the Minister’s entity.

Ablakwa argued that while hotels like Labadi Beach Hotel and Ridge Royal were profitable, Rock City had reportedly incurred losses based on GRA filings. He described the situation as evidence of potential “state capture,” implying undue influence over state institutions for personal gain.

Responding to Ablakwa’s allegations of intercepted documents showing Rock City’s financial woes, Acheampong dismissed them as false. He clarified, “All he [Ablakwa] is saying are lies. There is nothing truthful about what Okudzeto said concerning that matter.” Acheampong further indicated that Rock City had not yet filed its 2023 taxes, refuting claims of financial losses reported for that period.

The debate surrounding Rock City and the proposed hotel divestiture continues to fuel discussions in Ghana’s political and business circles, highlighting broader concerns about transparency and accountability in public-private partnerships involving state-owned assets.

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