SSNIT Hotels not profitable – Director General insist
The Director General for the Social Security and National Insurance Trust (SSNIT), has insisted that SSNIT Hotels are not profitable. He says the hotels need a strategic investor to help shore up its profit and allow for smooth and easy running of the hotels. His comments come on the back of North Tongu Member of […] The post SSNIT Hotels not profitable – Director General insist appeared first on MyNewsGh.
The Director General for the Social Security and National Insurance Trust (SSNIT), has insisted that SSNIT Hotels are not profitable.
He says the hotels need a strategic investor to help shore up its profit and allow for smooth and easy running of the hotels.
His comments come on the back of North Tongu Member of Parliament’s fight against what he describes as state capture after SSNIT decided to give four of its hotels to Bryan Acheampong and his Rock City Hotel.
The Director-General who was addressing the press said “We are looking to resolve a problem and do so with the introduction of a strategic investor. We’ve outlined the reasons for consistent losses in almost all of our hotels. I know you are aware that Labadi does not profits but the returns are below par.
They haven’t paid us any dividends with the exception of Labadi. Labadi Beach Resort started paying dividends for the last two years. They haven’t from the inception. We’ve been made to fund capital expenditure, and maintenance expenditure and even SSNIT contributions of the workers. Infact, a group of the hotels cannot afford their auditors fees,”he said.
The Director-General of SSNIT (Social Security and National Insurance Trust), Kofi Osafo-Maafo refutes claims made by former NPP National Chairman, Mr. Freddie Blay that SSNIT rejected his son's bid, valued between $150 million and $200 million, insisting it's unsubstantiated…… pic.twitter.com/zYgj0X69UT— GHOne TV (@ghonetv) July 8, 2024
The post SSNIT Hotels not profitable – Director General insist appeared first on MyNewsGh.
