SSNIT Seeks Partnership to Revamp Hotel Investments
By Praisebell Rosemond Larbi
The Social Security and National Insurance Trust (SSNIT) has announced plans to enter strategic partnerships to revitalize some of its hotel investments across the country, particularly the Elmina Beach Resort, as part of efforts to enhance returns and sustain value for contributors.
According to the Director-General of SSNIT, Mr. Kwesi Afreh Biney, the Trust has no intention of selling any of its hotel assets but rather aims to modernize and reposition them to meet international standards and attract a wider clientele.
Speaking to journalists in Accra after an engagement session under the Trust’s Media Connect Series, Mr. Afreh Biney said SSNIT’s hotel portfolio remains a valuable asset, with some properties already delivering steady dividends.
“We have decided not to sell any hotel assets but rather revamp them to meet international standards to attract more patrons. Hotels like Labadi Beach give us dividends every year, and others as well. There is a case for Elmina Beach, which we are still engaging to get some partnerships to revamp it. This will not include outright sales at all,” he stated.
He explained that the partnership model would allow private sector expertise and investment to complement SSNIT’s efforts in upgrading facilities and improving profitability, without relinquishing ownership.
The Media Connect Series serves as a platform for open dialogue between SSNIT and the media, providing updates on the Trust’s operations, reforms, and policy directions.
Mr. Afreh Biney also highlighted ongoing initiatives to boost enrolment in the pension scheme, noting that greater participation is essential for ensuring the sustainability of Ghana’s social security system.
On enforcement, he said SSNIT continues to engage defaulting employers to understand the challenges behind their non-compliance and to work toward amicable solutions before pursuing legal action.
“We are engaging companies to get first-hand information on why they are unable to pay. The idea is to support them to regularize their contributions rather than immediately resort to prosecution,” he explained. Currently, SSNIT has about four million registered members, but only an estimated 2.5 million are active contributors. The Director-General said the Trust is determined to close this gap through targeted outreach, improved digital services, and enhanced public education on the importance of social security contributions.
Mr. Afreh Biney reaffirmed SSNIT’s commitment to transparency, accountability, and prudent investment management to protect the interests of contributors and pensioners nationwide.
