Finance Minister Dr. Cassiel Ato Forson has cautioned the newly inaugurated Board of Trustees of the Social Security and National Insurance Trust (SSNIT) against selling state-owned assets to politically connected individuals.
Speaking during the board’s inauguration, Dr. Forson reaffirmed President John Mahama’s strong stance against such transactions and made it clear that he would personally oppose any attempt to offload state assets for political gain.
“I use the occasion to raise concerns about some past investment decisions and strongly advised: Please do not sell state assets to politicians. The President will not accept it and as your sector Minister, I will be the first to oppose it,” he stated.
The Finance Minister also urged the board to focus on prudent asset management and diversify SSNIT’s investment portfolio to ensure the long-term financial sustainability of the pension fund.
He assured that the government remains current on all obligations to SSNIT and reiterated the Finance Ministry’s commitment to maintaining that track record.
Controversy Over SSNIT’s Proposed Sale of Hotels
Dr. Forson’s remarks come in the wake of controversy surrounding SSNIT’s proposed sale of a 60% stake in four hotels La Palm Beach Hotel, Labadi Beach Hotel, Ridge Royal Hotel, and Elmina Beach Hotel to Rock City Hotel, owned by former Agriculture Minister Bryan Acheampong.
The deal faced strong opposition from Organised Labour, which threatened a nationwide strike, leading to its withdrawal in July 2024.
New SSNIT Board Commits to Integrity
Chairman of the newly constituted SSNIT Board, Nana Ansah Sasraku III, acknowledged the significant responsibilities ahead and expressed the board’s commitment to managing trust resources effectively.
“We are prepared, united, and committed to ensure that the trust resources are managed with integrity and foresight,” he assured.
SSNIT Board of Trustees
The newly inaugurated SSNIT Board of Trustees comprises:
- Nana Ansah Sasraku III – Chairperson
- Hon. Thomas Nyarko Ampem, MP – Member
- Mr. Kwesi Afreh Biney – Member
- Ms. Ama Serwaa Bonsu – Member
- Mr. Michael Bozumbil – Member
- Dr. Emmanuel Adu-Sarkodee – Member
- Mr. Abdul-Moomin Gbana – Member
- Ms. Salamatu Braimah Mahama – Member
- Mr. Thomas Tanko Musah – Member
- Mr. Benjamin Arkaah Otoo – Member
- Dr. Frank A. Odoom – Member
- Ms. Gifty Adishetu Mahama Biyira – Member
