Akufo-Addo praises TUC’s role in labour and national policies
President Nana Addo Dankwa Akufo-Addo has praised the Trades Union Congress (TUC)-Ghana for its pivotal role in shaping labor and national policies, particularly during challenging global economic conditions. Speaking at the 12th Quadrennial Congress of the TUC in Kasoa, Central Region, the President acknowledged the TUC’s significant contribution to fostering dialogue among key stakeholders on critical socio-economic issues, which has helped maintain a stable and harmonious working environment.
The President noted that the global economic downturn, worsened by ongoing geopolitical tensions, has had a profound impact on Ghana’s economy, putting immense pressure on industries, businesses, and citizens’ livelihoods. He emphasized the importance of sustaining and leveraging the power of trade unions during such times to protect workers’ interests and collectively navigate the challenges.
“It is crucial that trade unions continue to be the voice of reason, advocating for policies that promote economic stability, job security, and social justice,” the President urged.
He called on all stakeholders to continue nurturing the social partnership that has been instrumental in addressing the nation’s economic difficulties, stressing that Ghana’s pursuit of economic growth and a stable macroeconomic environment is achievable with the active participation of trade unions.
President Akufo-Addo commended the TUC for its steadfast advocacy for workers’ rights and its constructive relationship with the government over the decades. He highlighted the TUC’s influence in shaping labor and national policies through meaningful engagements with the government.
On pensions, the President pointed out that the sector has seen significant improvements, with active contributors to the Social Security and National Insurance Trust (SSNIT) Scheme increasing from 1.35 million in 2016 to 2 million as of April 2024. Additionally, pension coverage in the informal sector has grown from 91,253 in 2016 to 817,444 currently.
The President emphasized that the growth of pension fund assets is vital for investment, infrastructural development, and job creation. He reaffirmed the government’s commitment to expanding pension coverage, sustaining the pensions regime, and enhancing pension payouts.
Reflecting on the improved performance of SSNIT, which recently announced a surplus of GHS230 million, the President expressed confidence that this positive development should reassure organized labor. He advised caution in making decisions and pronouncements that could affect the long-term interests of pensioners, particularly in light of recent controversies surrounding SSNIT’s efforts to offload non-performing assets. In his address, Dr. Yaw Baah, the outgoing Secretary-General of the TUC-Ghana, commended Ghanaian workers for their unwavering commitment and dedication to the nation’s development agenda.
