The Social Security and National Insurance Trust (SSNIT) is looking for new ways to increase revenue from its hotels.
This comes after the Member of Parliament for Tongu, Samuel Okudzeto Ablakwa revealed that the company was planning a sale of a 60% stake in four of its properties to Rock City Hotel.
The sale was suspended following the significant discontent, with labour unions across the country declaring an indefinite strike in protest of the sale, claiming that it was not in the public’s best interests.
Addressing journalists in Accra on September 5, 2024, SSNIT’s Managing Director, Kofi Bosompem Osafo-Maafo, emphasized that the company is still committed to increasing the profit of its hotels.
“We are going back to the drawing board. We are looking at private sector investments into the hotels for a very good reason the returns were below par and when the returns are below par it is in a sector that requires a significant amount of investments which we cannot fund”, he assured.
“We have to look at new ways of funding it or improving the portfolio and obviously there were disagreements on how we achieve that and so with the disagreement and taking into account the interest of our stakeholders, i.e., the unions and all the other stakeholders, we’ve gone back to the drawing board and in time we would look at the way we progress,” he added.
Source: Ghana/Starrfm.com.gh/103.5FM/Mary Asantewaa Buabeng
