The Social Security and National Insurance Trust (SSNIT) is selling some of its real estate investments and reallocating funds into high-yield sectors to boost revenue, the Director-General, Mr. Kwesi Afreh Biney, has announced.
Speaking during the SSNIT Symposium (SSNITPosium) in Accra, which marked the Trust’s 60th anniversary, Mr. Biney stated that the real estate sector had underperformed, prompting the strategic shift toward more profitable investments.
“The real estate sector is one of the areas that admittedly, we haven’t done great. So as we seek to sell some of the investment that we own today, we will then take money out of our investment in real estate and put it in areas that are giving us great results,” he explained.
The SSNITPosium convened employers, employees, the Trades Union Congress, the National Pensioners Association, and former Director-Generals to discuss “The Future of Social Security in Ghana and Service Delivery in the AI Era” and “A Legacy of Service.”
Mr. Biney highlighted that SSNIT’s current strategy focuses on:
- Diversifying its investment portfolio
- Leveraging technology for improved service delivery
- Expanding coverage through strategic partnerships
He revealed that investments in the banking and financial sector were generating strong returns. “Our investments on the stock exchange this year have grown by more than GH¢1.8 billion. We have increased our stake in some banks, and we are investing more in CENIT Energy, our power plant, where we are increasing power generation by 110 megawatts this year in addition to the existing 126 megawatts,” he said.
To improve accessibility, SSNIT has partnered with banks under the initiative “SSNIT inside Your Banking Hall.” The first branch was launched at Ecobank’s Tema branch, with plans to expand to 27 touchpoints by year-end and an additional 100 next year, allowing workers across Ghana to access SSNIT services conveniently.
The Director-General also discussed SSNIT’s digital transformation agenda, consolidating services into a “Virtual Branch” where contributors can access benefits, renew certificates, and use facial recognition technology from home.
“Instead of our 72-year-olds walking into branches for renewals, they can now do so with facial recognition at home. This is part of our broader commitment to building a digitally led organisation that uses data and AI to improve service delivery,” Mr. Biney added.
Expressing optimism about the Trust’s sustainability over the next 60 years, he emphasised efficiency, innovation, and inclusion as the pillars of growth. He also described the symposium as a platform for stakeholder feedback, noting, “We believe feedback is the food for champions.”
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