The Social Security and National Insurance Trust (SSNIT) has made it clear that it will not be selling off any of its current assets or facilities.
Instead, the Trust is committed to enhancing and optimising these properties so they can deliver improved returns for its contributors and stakeholders.
This statement follows a proposal made in 2024 by Dr. Bryan Acheampong, the Member of Parliament for Abetifi and owner of Rock City Hotel, who expressed interest in purchasing several hotels owned by SSNIT.
The properties listed included the Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.
The proposal was met with significant public outcry, prompting Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, to file a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ).
This petition requested an investigation into claims of conflict of interest, abuse of power, procedural lapses, procurement violations, cronyism, and corruption.
At the opening 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 hold onto its assets and prioritise transforming them into profitable enterprises.
“Watch out for what we will do with our facilities that were to be sold. I can assure that we will not sell those facilities, and we will turn them around, and have an event to tell you what we plan to do with them,” he stated.
Mr. Biney elaborated that SSNIT is currently conducting a strategic evaluation of its investment portfolio to pinpoint underperforming assets and transform them into profitable income-generating properties.
“It is crucial that we help change those non-performing assets into performing assets. We have reviewed our investment portfolio, we have looked at the areas that are giving us the best returns, and we are beginning to channel our resources into areas that give us the best returns,” he added.
