Director-General; SSNIT to expand and remodel key hotel investments

Mr Kwesi Afreh Biney, Director-General of the Social Security and National Insurance Trust (SSNIT), has announced plans to expand and remodel some of the Trust’s major hotel investments to boost returns and strengthen the long-term sustainability of the pension fund.

He said the initiative forms part of SSNIT’s broader strategy to enhance the performance of its investment portfolio and ensure that contributors and pensioners benefit fully from the Trust’s assets.

Speaking during a visit by Madam Lydia Lamisi Akanvarigba, Minister of Public Sector Reform, in Accra on Wednesday, Mr Biney highlighted that the Labadi Beach Hotel, wholly owned by SSNIT, continues to perform strongly and shows great potential for growth.

“Labadi is doing well. Labadi is seeking to expand, and as the 100 percent shareholder, we will give our unwavering support to that expansion,” he stated.

He added that La Palm Royal Beach Hotel was also being prioritised for redevelopment and remodelling to revitalise its operations and increase profitability. Ongoing discussions, he said, aim to transform the facility into a modern, high-performing hotel that will contribute more effectively to SSNIT’s total assets under management.

“There are ongoing conversations to remodel and redevelop La Palm because ultimately, we need to improve the returns on our investments to grow the Trust and safeguard contributors’ funds,” he explained.

The Minister’s visit formed part of a familiarisation tour to engage key public institutions that deliver direct services to citizens and gather input for the upcoming National Public Sector Reform Strategy (2025–2029).

Mr Biney also addressed public interest in SSNIT’s hotel investments, assuring that all decisions are guided by sound investment principles and focused on creating long-term value for contributors.

Beyond investment performance, he outlined measures aimed at improving accessibility and service delivery, especially in rural and underserved areas.

He disclosed that SSNIT is implementing a co-location strategy with banks and exploring partnerships with district assemblies to make services more accessible.

“We’re not just limiting ourselves to banks. Even district assemblies can serve as points of contact where we station our staff to serve contributors,” he said.

He further noted that SSNIT is upgrading its virtual infrastructure to allow contributors to access services remotely.

“We are improving our virtual systems daily so that people can engage us from the comfort of their homes. These initiatives are meant to improve accessibility and convenience,” he added.

On proposals to extend the retirement age from 60 to 65 years, Mr Biney called for national dialogue and stakeholder consultation, citing the need to balance employment opportunities and sustainability amid increasing life expectancy.

“It’s a question that keeps coming up, and it requires broader consultation. Once we all get onto the roundtable, we’ll have those conversations,” he said.

Madam Akanvarigba commended SSNIT for its reforms, digital innovations, and commitment to service excellence.

She praised the Trust’s telehealth initiative, which will allow members to access healthcare services through digital platforms, describing it as a forward-looking innovation that will enhance healthcare delivery nationwide.

“The telehealth system is an excellent innovation. I have seen similar systems in Ethiopia and Kenya, and I believe it will go a long way to enhance SSNIT’s service delivery,” she said.