Kofi Bosompem Osafo-Maafo, Director-General of the Social Security and National Insurance Trust (SSNIT), has defended the company’s board members and management, despite calls for their removal.
According to Osafo-Maafo, SSNIT’s board and administration have done enough to deserve their ongoing stay.
Responding to calls from Organised Labour and other stakeholders for the dissolution of SSNIT’s board following the cancellation of the proposed sale of a 60% stake in four SSNIT-owned hotels to Rock City Hotel, Mr. Osafo-Maafo stated that board members and management deserve to serve their terms.
He highlighted several projects and investments that the Trust has undertaken and executed since 2017 to support his defence.
“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.
