{"id":100031,"date":"2025-05-20T16:43:27","date_gmt":"2025-05-20T16:43:27","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/ssnit-hotels-are-not-for-sale-dg"},"modified":"2025-05-20T16:56:19","modified_gmt":"2025-05-20T16:56:19","slug":"ssnit-hotels-are-not-for-sale-dg","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg","title":{"rendered":"SSNIT Hotels are not for Sale-Dg"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Social Security and National Insurance Trust (SSNIT) will not sell any of its hotels but will make them more profitable, Mr Kwesi Afreh Biney, Director-General, has disclosed.<\/b><\/p>\n

He said this in response to a question posed by the Ghana News Agency on the company\u2019s investment portfolios at the opening of a new SSNIT branch at Spintex, Accra, on Monday, May 19.<\/p>\n

The past SSNIT administration wanted to sell 60 per cent of its stake in four SSNIT hotels \u2013 Labadi Beach Hotel, La Palm Royal Beach Resort, Ridge Royal Hotel and Elmina Beach Resort to Rock City Hotel Limited.<\/p>\n

The development was met with an uproar, including a threatened demonstrations by Organised Labour and others, making the National Pensions Regulatory Authority (NPRA) order a suspension of the sale of the hotels.<\/p>\n

Speaking about the future of SSNIT hotels, Mr. Biney said: \u201cWatch out for what we will do with our facilities that were to be sold. I can assure you we will not sell those facilities.\u201d<\/p>\n

\u201cWe will turn around those facilities, and we will have an event to speak to what we plan to do with those facilities,\u201d he added, noting that such a move was crucial in changing their non-performing assets into performing ones and increase payouts to pensioners.<\/p>\n

He said the Trust would push more investments into energy, telecommunication, fixed-income securities and equity in the banking sector, which had proven to be more rewarding.<\/p>\n

\u201cWe\u2019ve made a decision that the fixed-income securities is an area that has been given good returns for us. So, we keep pushing quite a number of our investments into the fixed-income securities.\u201d Mr. Biney said.<\/p>\n

He noted that listed equities, particularly in the banking industry had done great for SSNIT, just as investment in the telco space had also yielded positive returns for the company, therefore, it would invest more in those areas.<\/p>\n

On energy, the Director-General noted that because of the \u201cgreat results\u201d they have had in the sector, SSNIT was expanding CENIT Energy to operate commercially in Kumasi.<\/p>\n

\u201cThis is not only to expand power provision for the people of Ghana, but because it\u2019s giving us good returns, it should be an area that we can enhance our activities,\u201d he said.<\/p>\n

Regarding the opening of the new office, Mr. Biney indicated that it formed part of SSNIT\u2019s strategy to ensure that it expanded coverage, made its services more accessible and convenient.<\/p>\n

\u201cWe currently provide digital services to USSD, as well as our websites and a functional app that enables people to interact with us,\u201d he said, adding that SSNIT would by the September 2025, outdoor a virtual branch to expand reach to Ghanaians.<\/p>\n

For More News And Analysis About Ghana<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Social Security and National Insurance Trust (SSNIT) will not sell any of its hotels but will make them more profitable, Mr Kwesi Afreh Biney, Director-General, has disclosed. He said this in response to a question posed by the Ghana News Agency on the company\u2019s investment portfolios at the opening of a new […]<\/p>\n","protected":false},"author":84,"featured_media":100030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[429],"class_list":["post-100031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-ghana"],"yoast_head":"\nSSNIT Hotels are not for Sale-Dg - Ghana<\/title>\n<meta name=\"description\" content=\"Social Security and National Insurance Trust (SSNIT) will not sell any of its hotels but will make them more profitab ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SSNIT Hotels are not for Sale-Dg\" \/>\n<meta property=\"og:description\" content=\"Social Security and National Insurance Trust (SSNIT) will not sell any of its hotels but will make them more profitab ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T16:43:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-20T16:56:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2025\/05\/sm_1747747486.820696.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SSNIT Hotels are not for Sale-Dg\",\"datePublished\":\"2025-05-20T16:43:27+00:00\",\"dateModified\":\"2025-05-20T16:56:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\"},\"wordCount\":461,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2025\/05\/sm_1747747486.820696.jpg\",\"keywords\":[\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ssnit-hotels-are-not-for-sale-dg\",\"name\":\"SSNIT Hotels are not for Sale-Dg - 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