The Social Security and National Insurance Trust (SSNIT) has clarified that it has no plans to sell any of its existing assets or facilities. Instead, the Trust is prioritizing the revitalization and optimization of these properties to enhance returns for its contributors and stakeholders.
This announcement follows a 2024 proposal from Dr. Bryan Acheampong, owner of Rock City Hotel, to acquire several SSNIT-owned hotels. These included Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.
The proposal triggered significant public backlash and prompted a formal petition from North Tongu MP, Samuel Okudzeto Ablakwa, to the Commission on Human Rights and Administrative Justice (CHRAJ). The petition called for an investigation into potential 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, SSNIT Director General Kwesi Afreh Biney reaffirmed the Trust’s decision to retain its assets and focus on transforming them into profitable ventures.
He also noted that SSNIT is conducting a strategic review of its investment portfolio to identify underperforming properties and turn them into viable income-generating assets.
This move marks a shift in SSNIT’s investment strategy aimed at strengthening financial sustainability and restoring public trust.
