The Director-General of the Social Security and National Insurance Trust (SSNIT), Mr. Kofi Bosompem Osafo-Maafo, has said that the Trust will continue talking to all parties involved about the proposed sale of its shares in four hotels.
On June 29, 2024, during a Media Encounter in Aburi, Eastern Region, themed “Sustaining the SSNIT Pension Scheme: Investments and Their Impact on Benefit Payments,” Osafo-Maafo said that although the National Pension Regulatory Authority (NPRA) has directed SSNIT to pause the sale, the Trust wants to continue engaging with stakeholders to demonstrate good faith and transparency.
He further explained that the decision to sell the shares was a business one, aimed at getting the best value and maximizing benefits. He emphasized that SSNIT’s goals align with those of the unions, seeking the best outcome for all.
“Our aims are not different from the Unions. We both want the best value. We want to maximize our benefits to let them (NPRA) know we did the right thing in good faith. We want better results and done things transparently,” Osafo-Maafo said.
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Osafo-Maafo added that SSNIT still owns its shares in Labadi Beach Hotel and that talks about selling them had already stopped before the National Pensions Regulatory Authority got involved. According to him, the talks stopped because the parties couldn’t agree on how the payment would work and had other issues to resolve.
The National Pensions Regulatory Authority (NPRA) issued a directive on June 28, 2024, to the Social Security and National Insurance Trust (SSNIT) to suspend ongoing negotiations over the sale of four hotels to Rock City, the company owned by the Minister of Food and Agriculture, Bryan Acheampong.
