SSNIT denies selling hotels, says: 'Adverts were for business advisory services, not divestment'
The Management of the Social Security and National Insurance Trust (SSNIT) has refuted recent media publications and social media commentary alleging the sale of its hotels, describing the claims as false, misleading, and without any basis.
In a press release issued on Friday, May 22, 2026, SSNIT stated unequivocally that it is not selling any of its hotel investments, urging the public to disregard the allegations.
Clarification on advertisements
SSNIT explained that advertisements published in the Ghanaian Times and Daily Graphic on Tuesday, March 24, 2026, were not invitations for the sale of any hotel assets, nor were they advertisements seeking investors or buyers for any of the hotels.
The advertisements, the Trust clarified, were solely to invite qualified consulting firms to provide professional advisory services for Golden Beach Hotels Limited, which comprises La Palm Royal Beach Resort in Accra, Elmina Beach Resort in the Central Region, and Busua Beach Resort in the Western Region.
Scope of advisory services
Specifically, the consultants are expected to conduct an independent evaluation of the company's operations and performance, recommend practical business turnaround and operational improvement strategies, and develop a comprehensive five-year business plan aimed at strengthening the company's long-term viability, competitiveness, and profitability.
"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 read.
Labadi Beach Hotel remains strategic
Management further emphasised that Labadi Beach Hotel, one of the Trust's flagship hospitality assets, continues to perform strongly and remains a strategic investment within SSNIT's portfolio. The Trust is actively supporting the hotel's expansion and growth drive to further improve its long-term value and contribution to the Scheme.
Commitment to contributors
SSNIT reaffirmed its commitment to safeguarding and prudently managing contributors' funds. The Trust stated that all decisions relating to its hospitality investments are guided by sound investment principles, rigorous performance evaluation, operational sustainability, and the objective of creating long-term value for contributors and pensioners.
The Trust urged the public to disregard the false claims suggesting that SSNIT is selling its hotels and assured pensioners, contributors, and the public of its commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme.
"SSNIT, we deliver on our promise," the statement concluded.
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Read the full statement below
