The Social Security and National Insurance Trust (SSNIT) has firmly stated that it will not sell any of its current assets or facilities, opting instead to focus on revamping and optimizing these properties to generate better returns for contributors and stakeholders. Apexnewsgh reports
This declaration comes in response to a controversial proposal by Dr. Bryan Acheampong, the Member of Parliament for Abetifi and owner of Rock City Hotel, who suggested purchasing several SSNIT-owned hotels, including the Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.
The proposal was met with widespread public backlash, prompting Samuel Okudzeto Ablakwa, the MP for North Tongu, to file a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ). Ablakwa’s petition called for investigations into various allegations, including conflict of interest, abuse of power, lack of due process, procurement breaches, cronyism, and corruption.
During the opening of SSNIT’s new branch on Spintex Road in Accra on Tuesday, May 20, SSNIT’s Director General, Kwesi Afreh Biney, reiterated the Trust’s commitment to retaining its assets and emphasized the goal of transforming them into profitable ventures. “Watch out for what we will do with our facilities that were to be sold. I can assure you that we will not sell those facilities; we will turn them around and have an event to inform the public about our plans,” he stated confidently.
Biney elaborated on SSNIT’s strategic review of its investment portfolio, which aims to identify underperforming assets and convert them into viable income-generating properties. “It is crucial that we help change those non-performing assets into performing assets. We have reviewed our investment portfolio, identified areas yielding the best returns, and are reallocating our resources to enhance profitability,” he added.
This strategic direction signals a significant shift in SSNIT’s investment approach as the Trust works to bolster financial sustainability and restore public confidence in its operations. By focusing on optimizing existing assets rather than selling them off, SSNIT is demonstrating a commitment to the welfare of its contributors and the overall integrity of its services.
Source: Apexnewsgh.com
