By: Franklin ASARE-DONKOH
The Director-General of the Social Security and National Insurance Trust (SSNIT), Mr. Kofi Bosompem Osafo-Maafo, has defended the company’s board members and management amidst calls for their resignation.
In his view, the SSNIT management and the board members deserved to still hold onto their positions because they have done enough to position the Trust to an appreciated level which justifies their continued tenure in office.
The Director-General of SSNIT put up a spirited defense when responding to calls by Organised Labour and other stakeholders for the dissolution of SSNIT’s board following the abortive sale of the four hotels owned by SSNIT to Rock City Hotel.
He highlighted several projects and investments that the Trust has undertaken and executed since 2017 to support 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, dates as far back as 2016, involved an investment of $185 million and we are in the process of disposing off approximately 20 per cent of those real estate assets and we are continuing to do that. In cost-saving measures, the savings 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 said.