President Nana Addo Dankwa Akufo-Addo has downplayed the recent uproar surrounding the Social Security and National Insurance Trust’s (SSNIT) decision to transfer hotel interests to Rock City Hotels, owned by Agriculture Minister Bryan Acheampong. The President dismissed the controversy as “unnecessary” and “unwarranted” during his address at the 12th Quadrennial Delegates Congress of the Trades Union Congress in the Central Region.
Akufo-Addo pointed to SSNIT’s impressive 2023 financial report, which showed a profit of over GHȼ230 million, as evidence of the state agency’s strong financial performance. He argued that this success should alleviate concerns over SSNIT’s decision to divest non-performing assets.
Despite SSNIT halting the sale after protests and threats of a nationwide strike, the President urged a more measured public discourse. He cautioned that inflammatory comments could harm SSNIT’s long-term interests and called on organised labour to engage more constructively with the government.
The President emphasized that the aborted transaction was the only recent instance of external investors seeking to invest in SSNIT holdings. He stressed the need for measured decision-making and pronouncements to protect the interests of pensioners.
