The Social Security and National Insurance Trust (SSNIT) has abruptly stopped its planned sale of a 60% stake in four hotels to a private entity, Rock City Hotel, owned by Ghana’s Minister of Food and Agriculture, Bryan Acheampong.
This follows just hours after Rock City Hotel declared its withdrawal from the transaction due to the widespread backlash.
The decision was announced late Friday, July 12, following significant opposition from various stakeholders.
SSNIT’s Board Chair, Elizabeth Ohene, who had initially defended the deal, released a statement confirming the termination of the process.
SSNIT reassured pensioners, contributors, and the public of its dedication to managing the Trust’s affairs prudently to ensure the sustainability of the pension scheme.
In response to the transaction, the Trade Union Congress (TUC) held an emergency meeting and called for a nationwide strike, effective Monday, July 15, to protest the approved deal by the National Pensions Regulatory Authority (NPRA).
Various unions, including those in the health and education sectors, promptly supported the strike directive, expressing their dissatisfaction with the handling of the hotel sale.
Despite Rock City Hotel retracting its bid, unions such as the Ghana Medical Association (GMA) and the National Association of Graduate Teachers (NAGRAT) maintained their stance on the strike.
They demanded a clear resolution from SSNIT regarding the future of the hotels.
With SSNIT’s latest decision to halt the sale, it is anticipated that organized labor may reconsider the planned shutdown of public services on Monday.
Read Elizabeth Ohene’s statement below:
