HomeNewsLocal NewsBright Simons challenges SSNIT to release relevant documents in controversial Rock City...

Bright Simons challenges SSNIT to release relevant documents in controversial Rock City deal

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Vice President of IMANI Africa, Bright Simons, has challenged the Social Security and National Insurance Trust (SSNIT) to release relevant documents related to the Rock City Hotel deal.

Speaking on JoyNews’ Newsfile program, he emphasised the need for transparency in the ongoing CHRAJ investigation regarding the potential conflict of interest involving the agriculture minister and the 60% stake sale to the Roc City Hotel.

Mr. Simons underscored SSNIT’s obligation to disclose all information relevant to the deal, highlighting the need for accountability and public scrutiny in such matters.

“We do not have the full Rock City submissions which have qualified it for this benefit, so some of my comments are about SSNIT investment practices generally, and I think I would be focusing on why I think the country could be better served by the way SSNIT does its investment.

“I would not be able to make an emphatic comment about Rock City itself because I do not have the information, but in the course of the coming days and weeks, we will be challenging SSNIT to put out all the information that it intends to submit to CHRAJ to the wider public. This is not a matter only for CHRAJ, and we commend the member of parliament who has initiated this inquiry”.

He raised concerns about SSNIT’s recent investment strategies with pension funds, noting that these actions have affected the returns on investment.

“Because part of the challenge about this rock city transaction, apart from this conflict-of-interest issue, which I do not want to go into details because, as I said, I want to look at all the information. For instance, has the minister set up a blind trust? What are the mechanisms that he is imposing to ensure there is an arm’s length transaction involved and he is not using his political power to influence the transaction?

“I do not have all the details, so I will be careful, but when I look at the way SSNIT makes its investment, it in a way underlines and, to a certain extent, vindicates why so many people are so suspicious of its judgment,” he noted.

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