SSNIT Denies Hotel Sales, Says Ads Were for Strategic Advisory
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SSNIT is pushing back against claims that it is selling off its hotel assets. The institution says recent advertisements were for consultancy services, not divestment, reassuring pension contributors about asset security.
The Social Security and National Insurance Trust (SSNIT) has dismissed reports suggesting it is selling its hotel investments, clarifying that no hospitality assets are up for sale in its portfolio. The institution says the claims circulating in parts of the media are misleading and inaccurate.
SSNIT explained that recent advertisements placed in national newspapers were intended to recruit consultancy firms to assess and improve the operations of its hotel subsidiary, not to initiate a sale process. The exercise is focused on strategic review and long-term performance enhancement.
The Trust emphasized that key properties, including its flagship hospitality investments, remain intact and continue to be managed as long-term revenue-generating assets for the pension scheme. It reiterated its commitment to safeguarding contributors’ funds and ensuring sustainable returns.
Going forward, SSNIT says it will continue to strengthen governance and operational efficiency across its investments while addressing public concerns through clearer communication.