The Social Security and National Insurance Trust (SSNIT) has refuted claims made by former NPP National Chairman Freddy Blay, who alleged that his son’s bid, valued between $150 million and $200 million, was rejected.
Freddy Blay claimed in an interview that his 34-year-old son, a significant player in the tourism sector, had bid to purchase shares in SSNIT’s hotels advertised in 2022.
Mr Blay stated, “my son is about 33, 34 years old. He’s grown up and involved in business. I don’t answer questions for him. But that apart, my son, if you care to know, is not just involved in hotels; he is involved in the tourism industry.”
“SSNIT offered to sell several hotels. He wanted a package, and my son’s company, Spartan Ives SSA, applied alongside about twelve or so companies. He offered to buy it for over $150 to $200 million with a syndicate of banks supporting him and a well-branded hotel chain”, he said.
However, SSNIT Director-General Kofi Osafo Maafo addressed the media in Accra on Monday, denying the existence of such an offer. He clarified that Freddy Blay’s son’s company, Spartan Ives SSA, did not pass the technical proposal stage of the bidding process.
“The claim that SSNIT received an offer of $150 to $200 million and turned it down is not accurate, with all due respect. Because the offer was never made, the offer was never even opened. It failed at the technical stage, and therefore this assertion that they offered us $150 to $200 million can’t be substantiated”, Kofi Osafo Maafo stated.
He emphasized that the details are documented in the minutes and are available for challenge if necessary.
“Spartan Ives did not get past that stage; their technical proposal was weak. They scored below the required 50%, so their financial proposal was not even assessed. The envelope was not even opened; it was returned to them. That is what the law requires us to do, and we did so. All of these details are in the minutes, and if anyone wants to challenge them, we will be very happy to oblige.”
