SSNIT To Invest In Profitable Ventures - Odoom

The Director-General of SSNIT, Dr Frank Odoom, has pledged the commitment of the Trust to ensure that all its investments yield the right returns to sustain the  pension scheme.

Consequently, he said management has undertaken a thorough assessment of all its investments and was recapitalising those that have positive prospects and shedding off its stake, partly or wholly in those that are not viable.

In an interview with the Graphic Business, Dr Odoom mentioned  Merchant Bank and the Intercity STC transport as some of the companies the Trust was shedding off its stake.

He said the company has also moved away completely from constructing houses and flats on its own for rental because of the challenges that the Trust faced with the Dansoman and Sakumono where tenants refused to pay realistic rent.

According to him, in spite of the efforts made to revive some of the companies, there seem to be no hope in sight.

He however stated that  “these investments which have not yielded any positive results are not threatening the sustainability of the scheme”, adding that “We have some very positive investments which are expected to yield returns”.

Presently the Trust has invested in three major sectors of the economy namely; housing; energy and manufacturing