The Social Security and National Insurance Trust (SSNIT) says it is in early discussions to partner with strategic investors to help revive some of its low-performing hotels, but insists it has no intention of selling them.
Speaking at a media briefing in Accra, Director-General of SSNIT, Kwesi Afreh Biney, said the move is part of a broader plan to strengthen the trust’s hospitality investments and improve returns for contributors.
“We believe for these hotels to get to where we want them to be, we need partners who are deep in the hospitality industry, who can help us scale up,” he said.
Mr. Biney stressed that the talks are preliminary and no decision has been finalized, adding that “The negotiations are at very initial stages, and we will keep the media and stakeholders informed. But rest assured, we have no plan to sell any of our hotels.”
Background
SSNIT came under intense public pressure in 2024 following a proposal to divest 60% of its stake in four hotels, including the Labadi Beach Hotel and La Palm Royal Beach Hotel. The move sparked national controversy and threats of industrial action from labour unions, forcing the National Pensions Regulatory Authority (NPRA) to halt the planned sale.
By May 2025, SSNIT’s new management announced that all hotels would be retained, citing improved operational performance and future expansion plans.
Focus on Pension Protection
According to SSNIT, the latest engagement with private investors is aimed at boosting operational efficiency without relinquishing ownership, ultimately protecting pension funds and ensuring stable returns.
The trust also disclosed that it has disbursed over GH¢5 billion in pension payments so far this year, reaffirming its commitment to the long-term sustainability of Ghana’s pension scheme.
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Source: Frederick Kofi Thompson-Quartey/ATLFMNEWS
