Audio By Carbonatix
The Social Security and National Insurance Trust (SSNIT) has said it swapped its stake in The Trust Bank (TTB) for more shares in ECOBANK-Ghana to get more from its investments, especially in the wake of pension reforms.
The Trust last year swapped about 11million shares in TTB for 38.6 million shares in ECOBANK-Ghana for 220 million Ghana Cedis.
The move was however heavily criticized by some interest groups as well as some workers of TTB.
But speaking to JOYBUSINESS, Director General of SSNIT, Dr Frank Odoom stated that recent developments have shown the deal was a prudent one.
The important thing the company is focusing on, he said, is the sustainability of the company’s pension schemes.
“We want the scheme to be there for generations to come and the only way we can do that is to make sure that we good investments,” hence the merger with ECOBANK.
The Trust received some 11.2 million Ghana Cedis as dividend from ECONBANK, which according to SSNIT, is the biggest dividend it has ever received from all its investments in the country.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
APL launches national trackers to measure governance trust and economic wellbeing
53 seconds -
I am no longer with Lynx Entertainment – KiDiÂ
58 seconds -
Roc Nation Sports International confirms return of Roc Cup to Ghana in 2027
3 minutes -
GMet forecasts thundery rains for southern Ghana, sunny spells in the north
4 minutes -
Court denies businessmen bail in Gh¢49m gold fraudÂ
23 minutes -
Okada rider remanded over GH¢37,000 gold necklace robberyÂ
30 minutes -
“Juju can influence attraction, but building relationships require effort” — Kwaku Bonsam
31 minutes -
Ghana calls for climate justice in global energy transition
40 minutes -
Orphaned baby hippo to be hand-reared by keepers at Kenya sanctuary
43 minutes -
Cruise passengers tell of life on board stranded ship after hantavirus outbreak
45 minutes -
Airlines cut 13,000 flights in May as jet fuel prices soar
46 minutes -
We’ve been denied access to re-arrested Buffer Stock ex-CEO and wife – Godfred Dame
53 minutes -
Ubuntu inter-orphanage games: A celebration of shared humanity
55 minutes -
3i Africa Summit: GhIPSS eyes cross-border payment expansion
60 minutes -
Private Vehicle Testing Stations push for machine-based vehicle testing, demand revenue share review
1 hour