The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has released additional documents that supposedly reveal the true owner of the beachfront of the Labadi Beach Hotel.

The MP has accused Freddie Blay, a former National Chairman of the ruling New Patriotic Party (NPP), and his son, Kwame Blay, of engaging in ‘grand state capture’ by claiming ownership of the beachfront of the Labadi Beach Hotel.

In a post shared on X, Thursday, June 27, 2024, Ablakwa shared supposed documents of an agreement between a company he linked to the Blays, the Labadi Beach Hotel, and a third party on the joint venture that covers the hotel beachfront in contention.

He questioned why the Labadi Beach Hotel was included in the joint venture if the beachfront did not belong to the hotel. He asserted that the joint venture was breached, leading to the hotel losing a significant amount of money.

The management of the hotel attempted to reclaim parts of the beachfront that were taken from it after the agreement was broken, but they were unsuccessful due to powerful opposition.

"Insiders at the helpless Labadi Beach Hotel now regret signing this JV as they couldn't have predicted at the time that it was all a trap meant to give Kwame Blay initial access. Remember, the JV was violently breached, causing Labadi Beach Hotel to lose substantial revenue even ahead of Labadi losing its beachfront.

"I am also attaching a statement by the management of Labadi Beach Hotel issued on November 13, 2023, following a Bright Simmons social media post about political heavyweights encroaching on the hotel’s beachfront. From the statement, Labadi Beach Hotel’s MD promised to reclaim its beachfront — unfortunately, the forces they came up against were just too powerful," parts of the post read.

The documents the MP shared showed details of a joint venture agreement between Gold Coast Expo Limited, Press Express Logistics Limited, and Labadi Beach Hotel Limited to operate "the Polo Beach Club", which was made on November 11, 2020.

"Party 1 (Gold Coast Expo) and Party 2 (Press Express Logistics) organized the Polo Beach Club (the Beach Club), a pop-up beach club, over a period of 10 days at a portion of the Labadi beach under the easement rights of Party 3 (Labadi Beach Hotel Limited) and with the approval of La Dade-Kotopon Municipal Assembly (the Assembly).

"Party 1, Party 2, and Party 3 desire to develop, finance, operate, and manage the Beach Club permanently on a joint venture basis in accordance with the terms specified in this Agreement," part of the document reads.

It added, "NOW THEREFORE, THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged by each of the Parties, the Parties covenant and agree as follows."

The document also outlined the conditions for the termination of the agreement, including the termination of the joint venture and when one of the parties holds the whole 'participant interests'.

View the MP’s post plus the documents he shared below:














BAI/OGB

Meanwhile, catch up on the latest episode of People and Places on GhanaWeb TV below as Etsey Atisu brings you the story of the people of Vume, known for making pots from clay:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.