SSNIT halts negotiations with Rock City on hotel sales [Video]

The Social Security and National Insurance Trust (SSNIT) has revealed that it has halted negotiations leading to the sale of a 60 per cent stake in some six hotels.

This is in line with a directive from the National Pensions Regulatory Authority (NPRA).

The Director General of SSNIT, Kofi Bosompem Osafo-Maafo disclosed this at a media engagement on the operations of the State Pension Trust.

He however added they will embark on more stakeholder engagement on the matter, to let all the partners and actors appreciate the need to reduce their interest in these hotels so they can get more from their investment in the sector.

Mr Kofi Bosompem Osafo-Maafo insisted that its stake in Labadi Beach Hotel has not been sold, adding even before this action by the National Pensions Regulatory Authority, negotiations had stalled, “on the payment model and other concerns that had come up.

The Director General …