SSNIT Terminates Sale of Hotels to Labour Union Amidst Planned StrikeSSNIT Terminates Sale of Hotels to Labour Union Amidst Planned Strike The Social Security and National Insurance Trust (SSNIT) has announced the termination of the sale of its four hotels to the Organized Labour union. This decision was made following the union’s threat to embark on a nationwide strike on Monday, July 15. Negotiations and Deal SSNIT had previously negotiated the sale of 60% of its shares in four hotels to the Rock City Hotel, owned by Agriculture Minister Bryan Acheampong. The union had strongly opposed this move, expressing concerns about transparency and accountability. Planned Strike and Termination In response to the planned strike, SSNIT released a letter dated July 14 stating the termination of the sale process. The letter, signed by the Chairman of the Board of Trustees, Elizabeth Akua Ohene, emphasized SSNIT’s commitment to prudently managing its affairs. Assurance to Retirees SSNIT assured retirees, contributors, and the public that it would continue to manage the Trust’s affairs responsibly to ensure the sustainability of the pension system. The termination of the hotel sale signifies a victory for the union and a departure from a potentially damaging strike.
The Social Security and National Insurance Trust (SSNIT) has officially announced its decision to terminate the sale of its four hotels to Organised Labour.
The termination of the sale was announced after the Organized Labor union decided to hold a nationwide strike on Monday, July 15.
SSNIT negotiated the sale of 60 percent of its shares in four hotels to the Rock City Hotel, owned by Agriculture Minister Bryan Acheampong.
The group had threatened to continue with the planned strike until SSNIT informed them of its decision.
However, a letter dated Sunday, July 14, signed by the Chairman of the Board of Trustees, Elizabeth Akua Ohene, states: “The Board of Directors and Management of Social Security and National Insurance Trust (SSNIT) wishes to inform you that the process to sell 60% of SSNIT’s interest in the hotels has been terminated.
It assured the retirees that it would manage the Trust’s affairs sensibly.
“We want to assure retirees, contributors and the public of our commitment to prudently manage the Trust’s affairs for the sustainability of the pension system.”
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