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
-
WAFU B U-17 Girls Cup: Black Maidens finish tournament with 4-0 win over Cote d’Ivoire
11 seconds -
2026 Women’s Super Cup: FC Savannah to face Epiphany Warriors in final on September 29
14 minutes -
Ghana’s second chance: How President Mahama’s return offers historic opportunity for transformation
20 minutes -
AFCON 2027Q: Alexander Djiku ruled out of clash against Gambia
23 minutes -
RCI Immanuel Temple donates supplies to Motherly Love Orphanage
1 hour -
COCOBOD asks investors to fund cocoa purchases, but proceeds may also repay old debt
2 hours -
Gov’t hands over site for construction of 160-bed Savannah Regional Hospital
2 hours -
NCPTA clarifies GH¢200 cap on PTA dues and levies per parent
2 hours -
Asante Kotoko part ways with coach Eric Tinkler
2 hours -
GTA calls for ultra-modern Cocoa Museum in Western North
2 hours -
NPP says concerns over delegates’ register addressed ahead of October 3 polls
2 hours -
PwC Ghana appoints George Arhin as Country Senior Partner
2 hours -
New Economy will turn imports into opportunities for Ghanaian production – Ato Forson
2 hours -
Two Ada SHS students convicted, placed on 12-month good behaviour bond
2 hours -
Samson’s Take: Verify the badge – and verify the story
2 hours