The Director-General of the Social Security and National Insurance Trust (SSNIT), Kofi Bosompem Osafo-Maafo, revealed that objections from labor unions and other stakeholders led to the cancellation of the sale of four hotels. In an interview with Accra-based Citi FM, Mr. Osafo-Maafo explained that SSNIT had committed to consulting stakeholders before finalizing the deal, so they had to consider the demands of various parties, including organized labor, after multiple meetings.
“We listened to the stakeholders’ objections and decided to terminate the process. During our press conference, we promised to engage all stakeholders, and we have been doing so. The unions have been vocal, and we took their demands into account, leading us to cancel the sale.”
Organized labor has announced a strike on July 15 over the sale of SSNIT hotels. Mr. Osafo-Maafo mentioned that he and his team had meetings with the unions and the Labour and Employment Minister, along with two engagements with the NPRA. “There has been continuous engagement, and we all share the same goal: to improve the revenue of the hotels,” he stated in an interview on July 15.
He clarified that the process of selling SSNIT’s hotel shares began in 2010, contrary to previous statements. “We don’t think we acted too late. We have had businesses since 2010. The process started in 2010 when the board invited investors. In 2017 and 2018, the board directed us to find strategic investors, and this process continued through to 2022.”
