The Social Security and National Insurance Trust (SSNIT) has flatly denied widespread media reports and social media speculations suggesting that it is selling off its hospitality assets.
In a decisive response to the ongoing public commentary, the Trust described the allegations as entirely false, misleading, and without any foundational basis.
Management clarified that the state pensions regulator is not offloading any of its hotel investments, reassuring contributors and the public that its portfolio remains intact.
The controversy reportedly stemmed from public advertisements placed by the Trust in national newspapers earlier this year. According to the management, the notices published in the Daily Graphic and Ghanaian Times on Tuesday, March 24, 2026, were completely misinterpreted by sections of the media and the public.
“The advertisements were solely to invite qualified consulting firms to provide professional advisory services for Golden Beach Hotels Limited,” the statement clarified, explicitly referencing La Palm Royal Beach Resort, Elmina Beach Resort, and Busua Beach Resort.
Rather than a divestment process, the Trust explained that the procurement of these consultants is part of an internal restructuring campaign.
The selected firm will be tasked with conducting an independent evaluation of current operations, recommending practical business turnaround strategies, and developing a comprehensive five-year business plan to boost long-term viability, competitiveness, and profitability.
SSNIT emphasised that the entire engagement is strictly a business improvement and strategic planning exercise intended to enhance operational performance and preserve value.
The Trust also singled out the Labadi Beach Hotel, noting that the flagship hospitality asset continues to show strong financial performance.
Management noted that it is actively supporting an expansion and growth drive for the facility to further improve its long-term value and contribution to the national pension scheme.
Reiterating its fiduciary duty to Ghanaian workers, the management stated that all decisions regarding its hospitality investments are guided strictly by sound investment principles, rigorous performance evaluations, and operational sustainability.
“The Trust therefore urges the public to disregard the false claims suggesting that SSNIT is selling its hotels,” the statement concluded, adding that management remains fully committed to safeguarding and prudently managing contributors’ funds to ensure the long-term sustainability of the Pension Scheme.
By: Rainbowradioonline.com/Ghana
