President Nana Addo Dankwa Akufo-Addo has downplayed the controversy surrounding the attempted sale of Social Security and National Insurance Trust (SSNIT) hotels, calling it unnecessary.
He cited SSNIT’s recent surplus of GHs 230 million as evidence of the trust’s improved performance.
Speaking to organized labor in Accra, the President emphasized the need for measured decision-making to protect the long-term interests of pensioners.
“Take note of the improved performance of SSNIT which recently announced a surplus of GHs 230million on its operations, this should be reassuring to organised labour and perhaps bring into sharper relief the unnecessary controversy that was recently generated by SSNIT’s efforts to load non-performing assets in its hotel portfolio,”
The controversy began when former Chief Justice Sophia Akuffo accused SSNIT management of deliberately running down the hotels to sell them to insiders.
However, SSNIT denied these allegations, stating that they had restructured hotel ownership, brought in private management companies, and provided financial support to make the hotels more competitive.
SSNIT explained that despite some improvement, the hotels’ performance was still below expectations, leading to the decision to sell shares, which has since been terminated.
The trust emphasized that allegations of deliberate mismanagement are false and undermine the integrity of the Pension Scheme, creating unnecessary tension among stakeholders.
Bainamultimedia/Khadijahtu Kubura Kailani
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