Accra, Ghana – The Social Security and National Insurance Trust (SSNIT) is moving to reassure its contributors about the security of their investments. In a recent address, Director General Kwesi Afreh Biney outlined a new strategic direction for the Trust, emphasizing revitalization and optimization of existing assets rather than outright sales. This announcement follows public concern regarding the proposed sale of SSNIT’s stake in valuable properties such as the Labadi Beach Hotel. Amidst economic uncertainties, the Director General’s message seeks to allay fears, projecting a future where SSNIT assets are not only safe but also yield better returns for contributors. The core strategy revolves around transforming what were once considered non-performing assets into engines of financial growth, ensuring that SSNIT assets are secure and effectively managed.

Director General Biney’s address signaled a pivot in how SSNIT plans to manage its extensive portfolio. The original plan involved divesting from certain assets deemed underperforming, including the partial sale of the Labadi Beach Hotel. This sparked debate, with stakeholders raising concerns about long-term value and the potential loss of valuable holdings.

The new direction involves a comprehensive effort to retain and revitalize these assets. Rather than selling, SSNIT now aims to inject new life into these facilities, enhancing their value and revenue-generating capabilities. This shift is driven by a commitment to maximizing returns for contributors and addressing the reservations voiced by the public.

The rationale behind this strategic change is twofold. First, it directly responds to stakeholder concerns about selling off valuable assets. Second, and perhaps more importantly, it reflects a belief that with the right investment and management, these assets can be transformed into significant contributors to SSNIT’s overall financial health.

To achieve these goals, SSNIT is embarking on a thorough review of its investment portfolio. This review aims to identify areas that are already delivering strong returns and pinpoint those with the greatest potential for improvement.

Resources will be strategically channeled into these high-performing areas to further amplify their success. Simultaneously, a dedicated effort will be made to turn around the fortunes of assets that have previously underperformed.

The focus will be on facilities that were initially earmarked for sale. Director General Biney has made it clear: SSNIT will not dispose of these assets. Instead, detailed plans are being developed to revitalize these facilities, transforming them into profitable ventures. The specifics of these plans will be unveiled at a later event.

Watch out for what we would do with our facilities that were to be sold. I can assure you, we will not sell those facilities. We’ll turn around those facilities, and we’ll have an event to speak to what we plan to do with those facilities.

Kwesi Afreh Biney, Director General of SSNIT

In a move designed to broaden its reach and enhance convenience for contributors, SSNIT is preparing to launch a virtual office in the third quarter of 2025. This digital platform will provide a range of services online, making it easier for members to access information, manage their accounts, and conduct transactions remotely.

The launch of the virtual office is part of a broader strategy to increase accessibility to SSNIT‘s services. By leveraging technology, the Trust aims to reach a wider audience and provide more convenient options for members to engage with their social security benefits.

This initiative is expected to play a key role in boosting enrolment into the SSNIT scheme. By making it easier for people to sign up and manage their contributions, the Trust hopes to attract more members and expand its coverage across the country.

Further demonstrating its commitment to serving its members, SSNIT has recently opened a new branch on Spintex Road in Accra. Strategically located at Takyi Plaza, this is the Trust’s 52nd branch nationwide, serving the growing communities along this bustling commercial corridor.

The choice of Spintex Road as the location for the new branch reflects SSNIT’s focus on reaching areas with high population density and economic activity. By establishing a presence in this key location, the Trust aims to provide convenient access to its services for both existing and potential members.

For SSNIT contributors, the new strategy signals a renewed commitment to maximizing the value of their investments. The focus on revitalizing assets, expanding accessibility, and improving overall financial performance is intended to provide stakeholders with confidence in the Trust’s management.

The new administration is committed to ensuring that SSNIT‘s resources are used effectively and efficiently. By focusing on strategic investments and operational improvements, the Trust aims to deliver long-term value and security for its members.

SSNIT‘s decision to retain and revitalize its assets represents a significant shift in strategy, underscoring a commitment to financial performance and stakeholder reassurance. Director General Kwesi Afreh Biney’s commitment to safeguarding SSNIT assets and optimizing returns is a promising development. The forthcoming launch of a virtual office and the opening of the Spintex Road branch highlight SSNIT‘s focus on accessibility and growth. These efforts point to a positive trajectory for the Trust and its contributors. Stakeholders should closely follow upcoming announcements regarding the revitalization plans for the previously earmarked assets, as SSNIT charts a new course toward enhanced financial security.