The Management of the Social Security and National Insurance Trust (SSNIT) has confirmed that it is still in search of strategic investors for three of its hotels — La Palm Royal Beach Hotel, Elmina Beach Resort, and Busua Beach Resort.
Director-General of SSNIT, Kwesi Afreh Biney, disclosed this when he appeared before the Public Accounts Committee (PAC) on Friday, November 7, 2025. 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 added, “Yes, we are seeking a strategic investor for La Palm, Elmina Beach Resort and Busua. However, for SSNIT Guest House, Ridge Royal and Labadi Beach Hotel, we do not intend to seek any strategic investors; we believe 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.”
SSNIT’s earlier plan to sell some of its hotels under the Akufo-Addo administration was suspended following public backlash and opposition from several stakeholders.
Among those who opposed the move was the Member of Parliament for La Dade-Kotopon, Rita Naa Odoley Sowah, who joined the Hands Off Our Hotels demonstration led by then opposition lawmaker Samuel Okudzeto Ablakwa.
Ablakwa had criticized the proposed sale to Rock City Hotel Limited, a company owned by then Agric Minister Bryan Acheampong, alleging that the firm was running at a loss and unfit to acquire profitable state assets.
Bryan Acheampong, however, denied the claims and challenged Ablakwa to produce evidence of Rock City’s financial distress, stating that the company had not yet filed its 2023 tax returns and that the allegations were “baseless.”
The controversy eventually led to the suspension of the transaction, though SSNIT has maintained its position that partnership with strategic investors remains key to reviving its struggling hotels.
