The Social Security and National Insurance Trust (SSNIT) has resumed efforts to attract strategic investors for three of its hotels — La Palm Royal Beach, Elmina Beach Resort, and Busua Beach Resort — which continue to face financial difficulties.
These hotels were part of six hospitality properties the Trust had initially planned to sell a 60 percent stake in, a decision that sparked widespread public opposition in 2024. Intense criticism from labour unions forced SSNIT to suspend the sale.
Appearing before Parliament’s Public Accounts Committee (PAC), the new Director-General of SSNIT, Kwesi Afreh Biney, disclosed that the Trust is revisiting plans to engage investors specifically for the struggling facilities.
“The three hotels are struggling. We are seeking a strategic investor for La Palm, Elmina Beach Resort, and Busua,” Mr. Biney told the committee.
He clarified, however, that Labadi Beach Hotel, Ridge Royale, and the SSNIT Guesthouse are performing well and will continue to operate independently.
Read Also: Health Minister Accuses LHIMS Contractors of Blackmail, Launches New National Health Data System
“We believe these three hotels should be allowed to run on their own and make profit. Labadi Beach Hotel, for instance, made profits exceeding GH¢80 million in 2024,” he added.
When questioned about whether the earlier divestiture attempt was politically motivated, Mr. Biney declined to comment, describing the query as “a political question.”
Responding to concerns raised by the committee, Deputy Minister of Finance, Thomas Ampem Nyarko, assured lawmakers and contributors that any future partnership agreements would be handled transparently and with pensioners’ interests as the top priority.
“We want to assure the public that any decision to bring in a strategic investor will be carefully considered and will serve the best interest of SSNIT and its contributors. No politically exposed person will be involved,” he emphasized.
Story By: Afia Ohenewaa Akyerem