"We Are Seeking Strategic Investors for La Palm, Elmina Beach Hotels": SSNIT DG
- SSNIT's Director-General, Kwesi Afreh Biney, has announced that the Trust is actively seeking strategic investors for La Palm and Elmina Beach Hotels
- However, the Trust has no plans to seek strategic partners for other SSNIT-owned hotels like Labadi Beach, Ridge Royale, and SSNIT Guest House
- The move comes after public controversy surrounding a previous attempt to sell stakes in some SSNIT hotels
The Director-General of the Social Security and National Insurance Trust (SSNIT), Kwesi Afreh Biney, has indicated that the Trust is still in the market searching for strategic investors for La Palm and Elmina Beach Hotels.
While responding to questions at the Public Accounts Committee on Friday, November 7, 2025, Mr. Biney explained that the move is part of efforts to revive the two hotels and make them more profitable.
Source: Facebook
“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 independently,” he stated.
The SSNIT DG, however, was quick to add that the investment they are seeking does not include all SSNIT-owned hotels.
Mr. Biney also mentioned that Labadi Beach Hotel remains one of SSNIT’s most profitable investments, having made a profit of about GHC 80 million in 2024 and paid dividends of GHC 16 million in 2023.
"Labadi Beach Hotel is doing well. They make a profit consistently and pay dividends. We have no plans to bring in a strategic partner for that entity," he said.
Controversy surrounding the sale of SSNIT hotels
The SSNIT hotel portfolio has been the subject of intense public scrutiny after it emerged in 2024 that the Trust was in talks to sell a 60% stake in four of them to Rock City Hotel Limited, owned by the former Minister for Food and Agriculture and MP for Abetifi, Dr. Bryan Acheampong.
It was widely reported that the proposed sale to Dr. Bryan Acheampong included La Palm Beach Hotel, Labadi Beach Hotel, Ridge Royale Hotel, and Elmina Beach Resort.
However, following intense public backlash, led by the MP for North Tongu, Samuel Okudzeto Ablakwa, SSNIT pulled the brakes on the proposed sale.
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Reactions to SSNIT DG's remarks
Following the revelations by the SSNIT DG, some Ghanaians took to social media to share their views on the search for strategic investors to revive the hotels.
YEN.com.gh compiled a few of the reactions below:
@PapaOdefo said:
"Elmina Beach Resort is well planned hotel with nice structures but poorly maintained. No strategic plans to make the place what it suppose to be. I suggest they lease it out to Dubai people."
@kingkdondadda also said:
"Ahh wey Gyimmie be this ?? You had a willing investor and you allowed politics to drive him away cos is is a Ghanaian politician. But they will accept foreign investors rather oo."
@LECREATUER1 commented:
"The tym Brian Achampong what manage them the ndc where saying he what to buy it for himself eiiiiiii ndc see what u people are talking now."
@Abiamka_GH also commented:
"No hotel will be sold in the name of a strategic partnership. We will resist any form of privatization just as we did in 2024. If you can’t turn the situation around, get out of that office, kwasia."
Source: Facebook
SSNIT's highest earner receives GH¢201K
Meanwhile, YEN.com.gh reported that the data from SSNIT showed a huge disparity in Ghana's pension earnings
While the lowest pensioners saw a significant 25% increase in their monthly payments, the top earners' income rose by just 8 per cent.
The data highlighted the ongoing inequality in pension distributions and the different rates of increase applied in the 2025 indexation.
Source: YEN.com.gh
