The Social Security and National Insurance Trust (SSNIT) has clarified that it will not divest any existing assets or facilities. Rather, the Trust is committed to enhancing and optimizing these properties to yield improved returns for its contributors and stakeholders.
This statement follows a 2024 proposal from Dr. Bryan Acheampong, the Member of Parliament for Abetifi and proprietor of Rock City Hotel, who suggested acquiring several hotels owned by SSNIT, including Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.
The proposal elicited significant public outcry and prompted a formal petition from Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, to the Commission on Human Rights and Administrative Justice (CHRAJ).
The petition requested an investigation into claims of conflict of interest, abuse of power, procedural irregularities, procurement violations, cronyism, and corruption.
During the inauguration of SSNIT’s new branch on Spintex Road in Accra on Tuesday, May 20, SSNIT’s Director General, Kwesi Afreh Biney, reaffirmed the Trust’s decision to retain its assets and concentrate on transforming them into profitable enterprises.
He stated, ‘Be prepared for the developments regarding our facilities that were proposed for sale. I assure you that we will not sell these facilities; instead, we will revitalize them and hold an event to share our plans with you.’ Mr. Biney elaborated that SSNIT is conducting a strategic review of its investment portfolio to pinpoint underperforming assets and convert them into profitable income-generating properties.
‘It is essential that we transform those non-performing assets into productive ones. We have assessed our investment portfolio, identified the areas yielding the highest returns, and are now directing our resources towards those profitable sectors,’ he concluded.
