The Director-General of the Social Security and National Insurance Trust (SSNIT), Kwesi Afreh Biney, has disclosed plans to expand and remodel some of the Trust’s key hotel investments as part of efforts to enhance returns and strengthen the long-term sustainability of the pension fund.
He said the initiative formed part of SSNIT’s broader strategy to improve the performance of its investment portfolio and ensure that contributors and pensioners derive maximum value from the Trust’s assets.
Addressing Madam Lydia Lamisi Akanvarigba, the Minister of Public Sector Reform, during a visit to the Trust in Accra on Wednesday, Mr. Biney noted that Labadi Beach Hotel, which is wholly owned by SSNIT, continued to perform well and had shown strong growth potential in recent years.
As a result, the Trust, he said, is giving its full backing to the hotel’s expansion plans to solidify its position as a leading player in Ghana’s hospitality industry.
“Labadi is doing well. Labadi is seeking to expand, and as the 100 percent shareholder, we will give our unwavering support to that expansion,” Mr. Biney stated.
He added that La Palm Royal Beach Hotel was also being prioritised for redevelopment and remodeling to revitalise its operations and enhance profitability, adding that ongoing discussions are focused on transforming the hotel into a modern facility that could deliver stronger returns and 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.
Madam Akanvarigba’s visit was to familiarise the Ministry with the operations of key public institutions, like the SSNIT and particularly those that deliver direct services to citizens and identify areas for collaboration.
Also, it was to solicit input from the organisation into the drafting of the National Public Sector Reform Strategy (2025–2029).
Mr. Biney acknowledged recent public interest in SSNIT’s hotel investments but assured stakeholders that all decisions regarding the hospitality portfolio are being guided by sound investment principles and the goal of creating long-term value for contributors and pensioners.
Beyond investment performance, the Director-General highlighted ongoing measures to improve accessibility and service delivery, particularly in rural and underserved areas.
He revealed that SSNIT was pursuing a co-location strategy with banks as well as exploring partnerships with district assemblies to make services more accessible to contributors in remote communities.
“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 added that SSNIT was also enhancing its virtual infrastructure to allow contributors to access services remotely without necessarily visiting an office.
“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 for the people we serve,” Mr. Biney emphasised.
On recent calls for the extension of the retirement age from the current 60 years to 65 years, the Director-General called for national dialogue and stakeholder engagement on employment and retirement policy, noting that, as life expectancy increases, Ghana must rethink how to balance opportunity, employment, and sustainability within the social security system.
“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, and I’m confident that the outcome will define how we move forward as a country,” he said.
Madam Akanvarigba commended the Trust for its ongoing efforts to improve service delivery and introduce innovative solutions aimed at making its services more accessible to the public.
She said ongoing efforts to leverage technology to bridge service gaps, including the development of digital platforms that would allow contributors and pensioners, especially those in rural areas, to make contributions or receive benefits without visiting a bank, were laudable.
The Minister also highlighted SSNIT’s upcoming telehealth initiative, which aims to provide health services to members through digital communication platforms, describing the initiative as a forward-looking innovation that could improve healthcare accessibility for contributors and pensioners across the country.
“The telehealth system, which allows people to receive health services through digital platforms, 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.