By: Deborah Amewoyi
In marking the launch of Social Security and National Insurance Trust (SSNIT’s) 60th anniversary celebration, Director-General for the trust, Kwesi Afreh Biney has announced that SNNIT is no longer selling Labadi Beach Hotel.
Addressing the gathering of notable public officials, stakeholders and staff of the SNNIT on July 28, 2025, the director general of SSNIT made this announcement reiterating that the current management will not sell the one of Ghana finest resorts, Labadi beach hotel to any private investor.
This pronouncement stems from a 2024 controversy regarding the sale of 60 percent of shares of Labadi Beach Hotel, La Palm Royal Beach Hotel, Ridge Royal Hotel, and Elmina Beach Resort to a private individual – Owner of Rock city hotel and former Trades and Agriculture minister, Dr. Bryan Acheampong.
The conclusion to sell out 60 percent of the stakes to Dr. Acheampong was as a result of him coming out as the highest bidder for the four hotels owned by SSNIT.
“I stand here today and we all gathered here…Labadi Beach Hotel…a beautiful edifice is one of our investments wholly owned 100% by SSNIT, and we assure you that it would not be sold under our watch,” Mr. Biney affirmed during the launch of the Trust’s 60th Anniversary celebration.
Adding on, Mr. Biney listed several investments made by SSNIT towards the stabilization of the Ghanaian economy. He touched on a GHȼ2.42 billion investment in Ghana’s financial system, a 22 out of 36 share holdings in listed companies on the Ghana Stock Exchange and supporting 8 commercial banks in the country.
He further touched on the provision of 4,250 beds to six universities within the country and embedding social security education into basic school curricula.
These investments also highlights SSNIT’s corporate social responsibility approaches within the country.
The event saw the attendance of Vice President Jane Naana Opoku Agyeman and Chief of Staff Julius Debrah who took their stand to address the gathering at the launch.
