The Social Security and National Insurance Trust (SSNIT) has assured contributors and other stakeholders that its investments are yielding good returns, contrary to perceptions that the scheme was not making good returns from the majority of its investment portfolios.
The scheme says it is the only institution in the country that has helped solve the student accommodation problem by building hostel facilities on six university campuses with a total of 4,250 beds and managed by Ghana Hostels Limited (GHL), a wholly owned company.
Manager of the Self-Employed Enrolment Drive (SEED) initiative, Richard Manu, presented these facts on September 5, 2024, at the Employers Breakfast Meeting held in Accra.
SSNIT, he noted, contributes to the power-generating needs of Ghana, producing 126 megawatts for the national grid.
He noted that the scheme is also the largest institutional investor in the Information Communication and Technology (ICT) industry, with GHC 359.73 million worth of investments in the sector, adding that it has contributed to the reduction of unemployment in Ghana through investments in Ghanaian companies and construction projects, among others.
The scheme currently has Ghc 3.45 billion total investment in the financial sector, out of which it has Ghc1.68 billion investment in financial stocks, investments in 22 out of the 34 stocks on the Ghana Stock Exchange, and 8 investments out of the 23 commercial banks in the country.
The facts he presented also include Ghc322.89 million worth of investments in the metal and steel sector.
On sports, SSNIT funded the construction of the two stadia and rehabilitation of two other stadia for the CAN 2008 football games, including the including the construction of the Trust Emporium, a multipurpose sports facility popularly referred to as the Bukom Boxing Arena.
The three main classes of investments under the SSNIT portfolio are fixed income, including treasuries, corporate bonds, government bonds, corporate lending, and government lending; equity, which involves investments in both listed and unlisted companies; and alternative investments in real estate (investments in landed property, project development, and property management) and other investments (economically targeted investments and private equity).
Some of the listed companies under the listed equity portfolio are Cal Bank Limited, Ecobank, Societe General, Republic Bank Limited, Uniliver Ghana Limited, Aluworks, SIC Limited, GCB Bank Limited, Enterprise Group Limited, Standard Chartered Bank Limited, Benso Oil Palm Plantation Limited, Produce Buying Company, and MTN Ghana.
The unlisted companies are CDH Financial Holdings Limited, National Trust Holding Company Limited, Fidelity Bank Limited, Ghana International Bank Plc, Accra City Hotels Limited, Intercity STC Coaches Limited, Trust Hospital Limited, Africa World Airlines, Golden Beach Hotels Limited, Trust Logistics, NMC Property Management Limited, Simnet Ghana Limited, Ridge Royal House Limited, Canada Investment Fund for Africa LP, Dannex Limited, Trust F-Line Properties Limited, Ningo Salt Limited, Broll Ghana, Ghana Hotels Limited, West Hills Mall Limited, Tema Lube Oil Limited, and FOS Aluminium Limited.
By: Rainbowradioonline.com/Ghana
