The Social Security and National Insurance Trust (SSNIT) has made a U-turn on its decision to sell a 60% stake in four of its hotels to a private hotel owned by Ghana’s Minister of Food and Agriculture, Bryan Acheampong.
The abrupt decision, which came just hours after the Minister’s firm, Rock City Hotel, announced its withdrawal from the transaction due to widespread opposition, was confirmed in a statement issued by SSNIT on Friday, July 12. The Board Chair of SSNIT, Elizabeth Ohene, who had initially defended the deal, signed the brief statement announcing the termination of the process.
SSNIT reassured pensioners, contributors, and the public of its commitment to managing the Trust’s affairs prudently for the sustainability of the pension scheme.
The move by SSNIT followed a call by the Trade Union Congress (TUC) for a total shutdown of all public services on Monday, July 15, in protest of the transaction, which had received approval from the National Pensions Regulatory Authority (NPRA).
Various unions, including the Ghana Medical Association (GMA) and the National Association of Graduate Teachers (NAGRAT), supported the TUC’s directive for a strike action, despite Rock City Hotel’s withdrawal from the bid. The unions insisted that they would only reconsider their decision once SSNIT provides clarity on the way forward for the hotels.
As the situation unfolds, organized labor is expected to revisit the possibility of the intended shutdown of public services from Monday. The unions remain adamant that until SSNIT cancels the sale entirely, they will not back down on their strike threat.
The future of the stake in the hotels remains uncertain as stakeholders continue to monitor the developments closely. Stay tuned for more updates on this ongoing saga.
