{"id":192063,"date":"2024-06-22T10:09:08","date_gmt":"2024-06-22T10:09:08","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/22\/ssnit-does-not-need-approval-to-invest-freddie-blay\/"},"modified":"2024-06-22T10:09:08","modified_gmt":"2024-06-22T10:09:08","slug":"ssnit-does-not-need-approval-to-invest-freddie-blay","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/22\/ssnit-does-not-need-approval-to-invest-freddie-blay\/","title":{"rendered":"SSNIT does not need approval to invest \u2013 Freddie Blay \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>A former National Chairperson of the\u00a0New Patriotic Party\u00a0(NPP),\u00a0Freddie Blay, is strongly against requests for the Social Security and National Insurance Trust (SSNIT) to seek approval before investing in businesses.<\/p>\n<p>According to\u00a0Freddie Blay, SSNIT operates autonomously and has its own board of competent personnel capable of making and taking its own decisions on any issue.<\/p>\n<p>Reacting to a concern by Organised Labour that its representatives present on the SSNIT board voted against SSNIT\u2019s sale of the hotels, the former NPP National Chairman explained that four members on a board cannot make decisions for the entire board.<\/p>\n<p>\u201cSSNIT decided to get involved with hotel management and purchased some hotels\u2026 I don\u2019t believe they want to consult TUC before they do that\u2026 When you have a decision and they take a decision, the decision is binding; it is one decision\u2026 I will be surprised if four members of a board are taking a decision that we don\u2019t want one hotel to be sold,\u201d\u00a0Freddie Blay\u00a0said in a report on 3news.com.<\/p>\n<p>He added that he has been informed that the decision to sell the hotels was in the pipeline as far back as 2015 when the\u00a0National Democratic Congress\u00a0(NDC) was in power.<\/p>\n<p>He explained, \u201cI can\u2019t question the decision of SSNIT because government-appointed members. I don\u2019t have any problem with that if they decide that as a policy\u2026 indeed I\u2019m not too sure when they decided, some tell me that they decided to dispose of it as far back as 2015, 2016 when NDC was in office.\u201d<\/p>\n<p>Mr. Blay stressed that he would have purchased the hotels being sold if he had the financial muscle.<\/p>\n<p>A large number of protesters embarked on a peaceful demonstration on the streets of Accra on 18 June 2024 to press home their demand for the government to halt the sale of a 60 per cent stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT) to Rock City Hotel, owned by the Food and Agriculture Minister, Bryan Acheampong.<\/p>\n<p>The hotels include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and Trust Lodge Hotel.<\/p>\n<p>A post on the microblogging platform X, formerly known as Twitter, has revealed the shocking number of Ghanaians seeking to migrate overseas for greener pastures.<\/p>\n<p>According to Derek Nii Laryea, a popular digital entrepreneur, 63,375 residents of Ghana applied for a Canada visa from January to April 2024. The number of applicants for the first quarter of 2024 exceeded the total number of applicants for the year 2023.<\/p>\n<p>In 2023, a total of 62,151 persons applied for a Canada visa, out of which 33,756 were approved.<\/p>\n<p>In his tweet, he wrote, \u201cCanada visa applications in Ghana. 2021: 9,109, 2023: 62,151. Of these, 33,756 were approved, reflecting a substantial rise in interest and acceptance rates. 2024 Jan to April: 63,375.<\/p>\n<p>\u201cThe first 4 months surpassed the total number of applications for the entire previous year.<\/p>\n<p>\u201cApproval numbers for January and February were relatively strong, with 6,241 and 5,826 approvals respectively. However, March and April experienced significant drops, with approvals falling to 3,749 in March and further to 3,001 in April. It seems IRCC is tightening the criteria.\u201d<\/p>\n<p>EAN\/BB<\/p>\n<p><strong>Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A former National Chairperson of the\u00a0New Patriotic Party\u00a0(NPP),\u00a0Freddie Blay, is strongly against requests for the Social Security and National Insurance Trust (SSNIT) to seek approval before investing in businesses. According to\u00a0Freddie Blay, SSNIT operates autonomously and has its own board of competent personnel capable of making and taking its own decisions on any issue. Reacting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":160845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-192063","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SSNIT does not need approval to invest \u2013 Freddie Blay \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/22\/ssnit-does-not-need-approval-to-invest-freddie-blay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SSNIT does not need approval to invest \u2013 Freddie Blay \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"A former National Chairperson of the\u00a0New Patriotic Party\u00a0(NPP),\u00a0Freddie Blay, is strongly against requests for the Social Security and National Insurance Trust (SSNIT) to seek approval before investing in businesses. 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