The Social Security and National Insurance Trust (SSNIT) has confirmed its ongoing search for strategic investors to assist in revitalizing some of its underperforming hotels within the Golden Beach Hotels Group.
During an appearance before the Public Accounts Committee (PAC) on Friday, November 7, 2025, SSNIT’s Director-General, Kwesi Afreh Biney, elaborated that this initiative is part of broader efforts aimed at enhancing the performance and profitability of certain hotels that are currently facing financial difficulties.
He clarified that the strategy to attract private investment does not encompass all hotels owned by SSNIT.
“We are looking for a strategic investor for La Palm Beach Hotel and Elmina Beach Resort. However, we do not plan to seek any strategic support for SSNIT Guest House, Ridge Royale, and Labadi Beach Hotel. We believe these three hotels should operate independently,” he stated.
Mr. Biney underscored that Labadi Beach Hotel continues to be one of SSNIT’s most lucrative investments, generating a profit of approximately GHC80 million in 2024 and distributing dividends of GHC16 million in 2023.
“Labadi Beach Hotel is performing well. They consistently generate profits and pay dividends. We have no intention of bringing in a strategic partner for that establishment,” he remarked.
The SSNIT hotel portfolio has faced significant public scrutiny following disclosures in 2024 that the Trust was negotiating to sell a 60% stake in four of its hotels to Rock City Hotel Limited, which is owned by the Minister for Food and Agriculture and MP for Abetifi, Dr. Bryan Acheampong.
The proposed sale included La Palm Beach Hotel, Labadi Beach Hotel, Ridge Royal Hotel, and Elmina Beach Resort.
However, this deal encountered public backlash and political opposition, particularly from the MP for North Tongu, Samuel Okudzeto Ablakwa, who raised concerns regarding the transparency and appropriateness of the transaction.
In the wake of the controversy, Rock City Hotel retracted its bid, leading Organised Labour to cancel a planned nationwide strike against the sale.
