The Director-General of SSNIT, Kwesi Afreh Biney, has firmly stated that Labadi Beach Hotel will not be sold while he remains in office.

Speaking at the launch of SSNIT’s 60th anniversary on Monday, July 28, 2025, he highlighted efforts being made to secure the Trust’s future and grow its financial base through targeted investments.

His comments come amid renewed public interest following last year’s controversy over SSNIT’s decision to sell 60 percent of its shares in four hotels; Labadi Beach Hotel, La Palm Beach Hotel, Ridge Royal Hotel, and Elmina Beach Resort.

The deal, which involved Rock City Hotel, owned by former Agriculture Minister Dr Bryan Acheampong, fell through after strong backlash from Organised Labour, which threatened nationwide protests.

“I stand here today and we are 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 will not be sold under our watch,” he declared.

The Director-General also outlined a number of initiatives currently being undertaken by the Trust.

These include the construction of 4,250 affordable student hostel beds across six public universities, as well as plans to introduce social security education into junior and senior high schools.

He noted that SSNIT remains the biggest real estate investor in Ghana.

“We’ve invested GH¢2.42 billion into Ghana’s financial sector. We hold shares in 22 out of the 36 companies listed on the stock exchange and have stakes in eight banks, helping to stabilise the economy,” he added.

Biney stressed that Labadi Beach Hotel remains a valuable national property and a symbol of SSNIT’s long-term investment strategy.

DR/MA

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