SSNIT clarifies hotel advertisement, denies sale reports

The Social Security and National Insurance Trust has strongly denied reports claiming it is selling off its hotel investments, describing the information circulating across sections of the media and social media as false, misleading, and unfounded.

In a statement issued on Thursday, May 22, 2026, SSNIT clarified that recent advertisements published in the Ghanaian Times and Daily Graphic were not related to the sale of any hotel properties within its investment portfolio.

According to the Trust, the advertisements were intended solely to invite qualified consulting firms to provide professional advisory services for Golden Beach Hotels Limited, operators of La Palm Royal Beach Resort, Elmina Beach Resort, and Busua Beach Resort.

SSNIT explained that the selected consultants would be tasked with conducting an independent assessment of the company’s operational and financial performance, identifying challenges affecting profitability, and proposing practical turnaround strategies. The assignment also includes developing a comprehensive five-year business plan aimed at improving competitiveness, efficiency, and long-term sustainability.

The Trust stressed that the exercise is purely a strategic business improvement initiative and should not be interpreted as a divestment process.

“The engagement is therefore a business improvement and strategic planning exercise intended to enhance operational performance and preserve value, not a divestment process,” the statement emphasized.

SSNIT further reassured contributors and pensioners that Labadi Beach Hotel remains one of its strongest-performing hospitality investments and continues to play a critical role within its investment portfolio.

Management noted that the hotel continues to record strong performance and remains a key strategic asset for the Trust. SSNIT added that it is actively supporting expansion and growth initiatives at the hotel to increase its long-term value and boost returns that support the national pension scheme.

The Trust reiterated its commitment to safeguarding contributors’ funds through prudent investment decisions anchored on sustainability, operational efficiency, profitability, and long-term value creation.

“SSNIT remains fully committed to safeguarding and prudently managing contributors’ funds,” management stated.

The institution therefore urged the public to disregard reports suggesting it is selling its hotel assets, assuring stakeholders of its continued focus on strengthening investments and ensuring the sustainability of Ghana’s pension scheme.