The Board and Management of the Social Security and National Insurance Trust (SSNIT) have announced the termination of the process to divest 60% of SSNIT’s stake in hotels.
This decision comes after the declaration of a nationwide strike by organized labour, who strongly opposed the controversial sale to Rock City Hotels, owned by Agriculture Minister, Bryan Acheampong.
Additionally, Rock City Hotels withdrew its offer to purchase the hotels late Friday, further complicating the divestment process.
According to the Board and Management, the decision to discontinue the sale was made in recognition of the concerns raised by pensioners, contributors, and the public regarding the potential implications of such a transaction.
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SSNIT assured its stakeholders of its commitment to managing the affairs of the Trust prudently, prioritizing the sustainability of the Pension Scheme.
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