Former Chief Justice of Ghana, Sophia Akuffo, has levelled serious accusations against the Social Security and National Insurance Trust (SSNIT) management, alleging they deliberately devalued hotels slated for sale to benefit themselves, a common practice among state entities in Ghana.
Akuffo’s remarks come in response to SSNIT’s recent attempt to sell a 60% stake in four hotels, which sparked controversy and opposition from labour unions and public figures. SSNIT’s Director General, Kofi Bosompem Osafo-Maafo, defended the sale, citing consistent losses incurred by the hotels and the need for revitalization.
In an exclusive interview with TV3, Akuffo condemned SSNIT’s actions, asserting that such practices contribute to the devaluation of public assets, facilitating sweetheart deals among insiders. She commended labour unions for their resistance to the sale, emphasizing the importance of ethical standards in public asset management and how they reassure the public about the integrity of such institutions.
The controversy reached a peak when the National Pensions and Regulatory Authority (NPRA) initially approved SSNIT’s sale, prompting widespread public outcry and a nationwide strike by labour unions. The public’s strong reaction played a significant role in SSNIT’s decision to terminate the sale, citing public interest and the sustainability of the Pension Scheme.
The saga underscores broader concerns about governance and ethical standards in Ghana’s public sector as stakeholders debate the implications of SSNIT’s management decisions on public trust and accountability.
