SSNIT confirms decision to end Hotel Sale process to Organised Labour

The Social Security and National Insurance Trust (SSNIT) has officially communicated its decision to terminate the sale of its four hotels to Organised Labour.

The termination of the sale was announced after Organised Labour decided to embark on a nationwide strike on Monday, July 15.

SSNIT was negotiating to sell 60 percent of its shares in four hotels to Rock City Hotel, owned by the Agriculture Minister, Bryan Acheampong.

The group had threatened to proceed with their planned strike until SSNIT communicated its decision to them.

However, a letter dated Sunday, July 14, and signed by the chairperson of the board of Trustees, Elizabeth Akua Ohene, said, “The Board and Management of Social Security and National Insurance Trust (SSNIT) wish to inform you that the process to divest 60% of SSNIT’s stake in the hotels has been terminated.

It assured pensioners of its commitment to managing the affairs of the Trust prudently.

“We wish to assure pensioners, contributors and the public of our commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme.”