Business News of Friday, 21 September 2012

Source: myjoyonline

SSNIT ventures into aviation investments

The Social Security and National Insurance Trust - SSNIT has ventured into investing in Ghana’s aviation industry.

The trust has over the years made investments in the real estate sector and financial stocks on the Ghana Stock Exchange.

JOY-BUSINESS can however confirm that SSNIT is a part owner of the latest entrant in the aviation industry – African World Airlines.

It is however unclear how much stake SSNIT has in the new airline. Director General of SSNIT, Frank Odoom tells Joy Business the move has good prospects.

“We believe it’s a good and viable investment which would be profitable” he noted.

Other shareholders include SAS finance group, Cadfund and Hanan Airlines. Meanwhile, Africa World is set to begin commercial operations tomorrow as the fifth domestic airline.

This would be a commercial flight from Accra to Kumasi and back after an official launch. Chairman Togbe Afede told JOY-BUSINESS, their plan is to fly to West African cities with Ghana as the hub for its operations.