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The Social Security and National Insurance Trust (SSNIT) has announced the termination of the planned sale of 60% of its shares in four hotels.
This decision comes in response to a fierce opposition from several organized labour who had threatened a nationwide strike on 15 July over the divestiture.
A statement released by SSNIT on Friday (12 July) signed by the Board Chairperson, Elizabeth Akua Ohene, confirmed the termination.
The statement assured pensioners, contributors, and the general public that SSNIT “remains committed to managing the Trust’s affairs prudently to ensure the sustainability of the pension scheme.”
This deal follows the approval by the National Pensions and Regulatory Authority (NPRA) for SSNIT to proceed with the sale of its shares to Rock City Hotel owned by Agric Minister Bryan Acheampong.
However, the intense backlash from organized labour, including threats of a nationwide strike, may have prompted the decision to halt the divestiture.
Labour unions argued that the sale could negatively impact the interests of pensioners and contributors, leading to widespread protests and legal challenges.
Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, also expressed concerns and petitioned the Commission for Human Rights and Administrative Justice (CHRAJ) to investigate the proposed sale.
SOURCE: DAILY MAIL GH
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