SSNIT Seeks Strategic Investors for Selected Hotels to Boost Performance
The Social Security and National Insurance Trust (SSNIT) has reaffirmed its plan to attract strategic investors for selected hotels under the Golden Beach Hotels Group as part of efforts to improve operational efficiency and enhance returns.
Appearing before the Public Accounts Committee (PAC) on Friday, November 7, 2025, Director-General of SSNIT, Kwesi Afreh Biney, said the Trust is pursuing partnerships for hotels that have persistently underperformed financially.
“We are seeking a strategic investor for La Palm Beach Hotel and Elmina Beach Resort. However, for SSNIT Guest House, Ridge Royale, and Labadi Beach Hotel, we do not intend to seek any strategic support. We believe these three hotels should be allowed to run on their own,” Mr Biney stated.
Mr Biney revealed that Labadi Beach Hotel remains SSNIT’s most profitable investment, recording a profit of about GH¢80 million in 2024 and paying GH¢16 million in dividends in 2023.
“Labadi Beach Hotel is doing well. They make profits consistently and pay dividends. We have no plans to bring in a strategic partner for that entity,” he emphasised.
SSNIT’s hotel investments have in recent times come under public scrutiny following reports in 2024 that the Trust was in discussions to sell a 60 percent stake in four of its hotels to Rock City Hotel Limited—owned by Minister for Food and Agriculture and Member of Parliament for Abetifi, Dr Bryan Acheampong.
The proposed transaction, which included La Palm Beach Hotel, Labadi Beach Hotel, Ridge Royal Hotel, and Elmina Beach Resort, triggered widespread criticism and political opposition, particularly from the MP for North Tongu, Samuel Okudzeto Ablakwa, who raised concerns about transparency in the sale process.
Following the public backlash, Rock City Hotel subsequently withdrew its bid, leading Organised Labour to suspend a planned nationwide strike over the intended sale.
