La Palm, Elmina Beach Resort and Busua Beach Resort are the three struggling hotels that the Management of the Social Security and National Insurance Trust (SSNIT) has said they are looking for strategic investors for.
The Director General of SSNIT, Kwesi Afreh Biney, said this when he appeared before the Public Accounts Committee (PAC) on Friday, November 7.
Asked whether all these hotels are struggling, he said, “Honorable chair, all three hotels are struggling. ”
Asked again whether they are still in the business of looking for a strategic investor, he answered, “Yes, we are seeking a strategic investor for La Palm, Elmina Beach Resort and Busua. However, for SSNIT Guest House, Ridge Royal and La Badi Beach Hotel, we do not intend to seek any strategic investors; we believe that these three hotels should be allowed to run on their own and make a profit. Labadi Beach hotel, for instance, in 2024 made a profit in excess of 80 million Ghana Cedis.”
Read also: We’re looking for strategic investors for 3 of our hotels – SSNIT
SNNIT had wanted to sell the hotels under the Akufo-Addo administration, but this was halted because of the huge controversy it generated at the time.
Several stakeholders asked the then government to halt the sale. For instance, the Member of Parliament La Dade Kotopon, Rita Naa Odoley Sowah said the move was bad and should not be carried out.
