my Radio G-Live SSNIT Board and Management Have Demonstrated Sufficient Performance to Retain Office – Osafo-Maafo
Written by GliveRadio Accra on July 15, 2024
The Director-General of the Social Security and National Insurance Trust (SSNIT), Kofi Bosompem Osafo-Maafo, has staunchly defended the company’s board members and management amid calls for their resignation.
Osafo-Maafo asserted that the board members and management of SSNIT have adequately demonstrated their capability to warrant their continued tenure in office.
In response to demands from Organized Labour and other stakeholders for the dissolution of SSNIT’s board following the cancellation of the proposed sale of a 60 percent stake in four hotels owned by SSNIT to Rock City Hotel, Mr. Osafo-Maafo emphasized that the board members and management deserve to fulfill their respective terms.
He pointed to numerous projects and investments executed by the Trust since 2017 in support of his defense.
“Let me make another point that is worth stressing and that is what the board and management of SSNIT have achieved since I have been there since 2017 and I can speak to the track record and changes that have been put in place.
“When we look at the operational improvements that have been brought in, the efficiency of the SSNIT’s operation has been much better. If you look at the legacy issues and the magnitude of what we inherited, we have resolved them positively.
“The contracts that SSNIT went in to do real estate as far back as 2016 involved an investment of $185 million and we are in the process of disposing of approximately 20 percent of those real estate assets and we are continuing to do that. In cost-saving measures, the saving alone that we made on the Westhills Ridge project is $30 million.”
“I can go through other real estate investments that began a few years ago and we have just completed the largest affordable housing project in the country in Kumasi.
“We have also put in a set of investments that will outlive me to put the Trust in the best position,” Mr. Osafo-Maafo told the host, Bernard Avle of the Citi Breakfast Show on Monday, July 15.
