SSNIT terminates sales of 60% shares in hotels

The Board and Management of Social Security and National Insurance Trust (SSNIT) have withdrawn the process to divest 60% of their ownership in four hotels.

This follows agitation and pressure from Organised Labour to hold a statewide industrial strike on Monday, July 15. They have instructed their members to refrain from working if SSNIT fails to annul the contentious hotel deal. 

In a statement dated July 12, the Board of SSNIT informed pensioners, contributors, and the general public of the Trust's commitment to responsible management of its business in order to ensure the Pension Scheme's sustainability.

"The Board and Management of Social Security and National Insurance Trust (SSNIT) wish to inform the public that the process to divest 60% of SSNIT’s stake in the hotels has been terminated.

“We wish to assure pensioners, contributors and the public of our commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme" the statement read.

Source : Florence Kyei/Lead News Online