SSNIT terminates sale of 60% stake in hotels as labour unrest looms

The Social Security and National Insurance Trust (SSNIT) has halted its intended sale of a 60% stake in four of its hotels to a private hotel owned by Ghana’s Minister of Food and Agriculture, Bryan Acheampong.

A statement from SSNIT issued just before midnight of Friday, July 12, came hours after the Minister’s firm, Rock City Hotel, also announced that it had pulled out of the transaction due to the massive opposition by stakeholders.

The brief statement signed by the Board Chair of SSNIT, Elizabeth Ohene, who had previously defended the deal, said the process has been terminated.

SSNIT assured pensioners, contributors and the public of “its commitment to managing the affairs of the Trust prudently for the sustainability of the pension scheme.”