The Communications Director of the New Patriotic Party (NPP), Richard Ahiagbah, has expressed concern over the potential long-term consequences following the termination of the sale of SSNIT’s 60 percent shares in some four hotels.
On July 12, SSNIT announced the termination of the sale of its four hotels to Rock City Hotel, which also declared its intention not to purchase SSNIT shares in the hotels.
This development came after Organised Labour threatened to embark on a nationwide strike on Monday, July 12.
In a post on X (formerly Twitter), Ahiagbah acknowledged the influence of Organised Labour and advocates, empathising with the workers’ concerns.
However, he cautioned against impeding a legitimate corporate decision, highlighting the potential harm to corporate governance, market confidence, and overall certainty.
Ahiagbah urged consideration of the implications of this action, fearing it may have far-reaching consequences.
“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 labour and advocates. Their unwavering dedication to the sale has prevailed, sending a clear message.
“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. 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.”
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