The head of Social Security and National Insurance Trust (SSNIT), Kofi Osafo-Marfo, reaffirmed the organization’s commitment to providing the best possible pensions for Ghanaians.
During a press conference, Mr. Osafo-Marfo outlined SSNIT’s plans to:
- Implement investment strategies that increase returns while managing risks.
- Uphold the scheme’s sustainability as the leading pension option in Ghana.
- Improve cost efficiency through better management.
He also addressed recent controversies, including:
- Freddie Blay’s son’s investment proposal: SSNIT denied claims of rejecting a US$150 million-US$200 million bid. They clarified that Spartan Ives Limited, Mr. Blay’s son’s company, did not meet the initial technical evaluation criteria. Therefore, SSNIT never reviewed the financial proposal’s specific amount.
- Sale of SSNIT’s hotels: Mr. Osafo-Marfo justified the sale of a majority stake in six hotels as a strategy to improve financial stability. This move aims to reduce the need for annual contributions from the pension fund to support underperforming hotels.
