In a significant move, the Social Security and National Insurance Trust (SSNIT) has announced the termination of its plans to divest a 60% stake in its hotel assets.
Elizabeth Akua Ohene, Board Chair of SSNIT, in a statement, pointed out that the decision underscores SSNIT’s dedication to prudently managing its resources to ensure the sustainability of the Pension Scheme for its beneficiaries.
“The process to divest 60% of SSNIT’s stake in the hotels has been terminated”, the statement read, reflecting the organization’s resolve to maintain control over its significant investments.
Stakeholder Assurance
In a media release signed by Elizabeth Akua Ohene, Board Chair of SSNIT, the institution assured pensioners, contributors, and the general public of its unwavering commitment to safeguarding their interests.
Mrs Ohene pointed out that SSNIT’s leadership aims to bolster confidence among its stakeholders, underscoring the trust’s role in managing the pensions of thousands of Ghanaians regarding investment decisions that impact the scheme’s long-term viability.
“Our commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme remains paramount”, Elizabeth Akua Ohene emphasized.
Government Faces Ultimatum to Cancel SSNIT Hotels Sale
In an earlier statement, the Minority Caucus in Parliament issued a stern warning to President Akufo-Addo and Vice President Dr Mahamudu Bawumia’s administration, demanding the immediate cancellation of its intended sale of 60% shares in the Social Security and National Insurance Trust (SSNIT) hotels.
The Caucus, in a statement, signed by its leader Dr Cassiel Ato Forson, declared that failure to do so will result in nationwide demonstrations.
The Minority leader Dr. Cassiel Ato Forson, insisted that Honorable Bryan Acheampong’s withdrawal is insufficient, demanding a formal public statement from the government, confirming the cessation of any plans to sell the SSNIT hotels’ shares under what they describe as “dubious arrangements.
“It is not sufficient that Minister of Agriculture Bryan Acheampong, whose company attempted a hostile takeover of the iconic SSNIT hotels in a sweetheart deal with the government, has withdrawn its state capture bid after organised labour mounted pressure on the government to back down from the shady transaction.
“The government must issue a public statement informing organised labour and the general Ghanaian public that it has stopped its dubious arrangement to offload shares in the SSNIT hotels to a person(s) in government under very suspicious circumstances”.
Cassiel Ato Forson (Phd), Minority Leader and MP, Ajumako Enyan Essiam constituency
According to Dr Ato Forson, the National Democratic Congress (NDC) Minority in Parliament, organized labour, civil society, and the people of Ghana have made their opposition to the questionable arrangement by the New Patriotic Party administration to sell the SSNIT hotels to the Minister of Agriculture Bryan Acheampong or anyone under suspicious circumstances.
Dr Forson emphasized that the government must heed the voices of organized labour and other interest groups who have expressed vehement opposition to the deal.
The Member of Parliament for Ajumako Enyan Essiam constituency also announced that, unless the government publicly abandons the sale of SSNIT hotels by Tuesday, July 16, 2024, the Minority Caucus will escalate their opposition.
This, he pointed out includes withdrawing cooperation with the government on parliamentary business and organizing nationwide demonstrations.
In addition to the demand for halting the sale, the Minority Caucus called for the resignation of the board members of SSNIT, the National Pensions Regulatory Authority (NPRA), and the Minister of Employment.
Dr Ato Forson accused these officials of being complicit in the alleged state capture and failing to protect the interests of Ghanaian workers, asserting that the continuous stay in office of the members of the board of SSNIT, NPRA, and the Minister of Employment is no longer tenable.
“They must all resign for serving as accomplices in the state capture and for failing to protect the interest of Ghanaian workers,” Dr Forson concluded.
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