The Board and Management of the Social Security and National Insurance Trust (SSNIT) has announced the termination of the process to divest 60% of their stake in the hotels.
A statement released by SSNIT dated July 12, 2024 announced the termination and reaffirmed it’s dedication to managing the Trust’s affairs prudently and ensuring the sustainability of the Pension Scheme for all pensioners and contributors.
“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,” it stated.
This comes following a declaration by Organised Labour of an indefinite strike action following the National Pensions Regulatory Authority’s (NPRA) approval, giving clearance to SSNIT to proceed with its controversial sale of a 60% stake in four hotels to Rock City Hotel, owned by Bryan Acheampong.
This, subsequently led Rock City Hotel to withdraw its bid to purchase the listed hotels owned by the Social Security & National Insurance Trust (SSNIT).
