SSNIT says it’s not decided to sell shares in hotels – TUC reports after meeting

Ghana’s Trade Union Congress (TUC) has announced that the Social Security and National Insurance Trust (SSNIT) has not yet decided on the sale of 60% of its shares in four of its hotels.

This was revealed by TUC’s Secretary-General Dr Anthony Yaw Baah after a closed-door meeting with the SSNIT board on Thursday.

Dr Baah stated that while SSNIT is still considering proposals, the union has made it clear that the transaction should be cancelled to allow for broader consultations. “SSNIT says that they have not made a decision to sell the stake of SSNIT in these four hotels to anyone. They are still considering proposals and given what has happened, they are listening,” Dr Baah informed the media. He emphasised the union’s advice: “Cancel the deal.”

The controversy began when it emerged that Rock City Hotel, owned by the Minister of Food and Agriculture, Bryan Acheampong, had won a bid to procure a 60% stake in the four hotels. This revelation led to widespread condemnation, including from the Trades Union Congress. Subsequently, North Tongu MP, Samuel Okudzeto Ablakwa who blew the cover on the attempted sale of the SSNIT hotels, filed a formal petition with the Commission on Human Rights and Administrative Justice (CHRAJ) to investigate the sale.

In response to the outcry, the Union petitioned the SSNIT board, prompting the meeting on Thursday. The union has pledged to support SSNIT in rebuilding its image, which has been tarnished by the controversy. Dr Baah described the meeting as productive and expressed TUC’s readiness to collaborate with SSNIT to safeguard the Trust’s investments. “We want to work together as stakeholders – Organised labour, SSNIT board, employer, and government – to ensure that our investment in SSNIT is sustainable,” he said.

Dr Isaac Bampoe Addo, Executive Secretary of the Civil and Local Government Staff Association, Ghana (CLOGSAG), also urged SSNIT management to cancel the deal. He asserted that the TUC stands firm in its opposition to the sale. “They dare not. We’ve told them in plain language that they dare not go ahead with this deal,” he declared, adding that workers should have greater control over SSNIT as contributors to the Trust.

“This is our money and we will take control. …We’re going to ask for a total restructure of SSNIT because this is not how you should manage workers’ money,” Dr Bampoe Addo insisted, questioning the government’s role in appointing the SSNIT Board Chair.

Meanwhile, Employment and Labour Relations Minister Ignatius Baffour Awuah is set to engage labour leaders on the issue following a petition from organised labour to President Akufo-Addo.

All eyes remain on SSNIT’s next steps and the ongoing dialogue between the government, SSNIT, and labour unions.