Audio By Carbonatix
The Social Security and National Insurance Trust is to withdraw its investments from some distressed companies.
The firms, including Wahome Steel and GAFCO, are mainly into manufacturing where the Trust concedes it has not been able to manage satisfactorily.
“I am being practical with you, it is not all investment that will do well for various reasons and the sector in which they find themselves. Manufacturing is a very difficult area; that is where we failed woefully,” the Acting General Manager for Investment and Development of SSNIT, Jerome Eshun told Joy Business.
Such investment disasters are among some of the reasons why SSNIT is said to have failed.
But Mr. Eshun disputes this. He says the Trust has been extremely successful in the stock market where its contribution has been immense.
He maintains the Trust’s assets have also been adequately spread in order to ensure contributors’ monies are safe.
Source: Joy Business/Myjoyonline.com/Ghana
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
-
Calls grow for NHIS to cover prescription glasses after over 500 miss free eye care in Bono Region
8 minutes -
Death toll from Nkwanta South Odomi attack rises to four as curfew takes effect
10 minutes -
Impakers Creative Hub earns Trade Minister’s praise at Ghana–Italy Circular Economy Dialogue
17 minutes -
Coderina EdTech donates STEM materials to support ICT, coding education in Ghana
22 minutes -
Iran recloses Strait of Hormuz, citing Israeli strikes on Lebanon
23 minutes -
Hackman Owusu-Agyeman backs St Augustine’s teachers’ housing project by APSU 2002 to mark 97th anniversry
38 minutes -
GIPC CEO courts Canadian investors in Toronto
43 minutes -
Harry and Meghan offered royal accommodation during UK visit
45 minutes -
Ntim Fordjour demands answers over Australia drug seizure linked to Ghana
46 minutes -
West Hills Mall to celebrate fatherhood with ‘Dad’s Day Out’ campaign
51 minutes -
FIFA Ranking: Black Stars move eight places up after World Cup win over PanamaÂ
54 minutes -
Google unveils biggest-ever Street View expansion in Ghana with sharper imagery and wider coverage
1 hour -
There is ‘zero chance’ Mahama will appoint a politically neutral EC deputy chairperson — Kofi Bentil
1 hour -
Sophia Akufo proved political appointees can remain impartial – Kofi Bentil
1 hour -
APSU 2002 launches GH¢5.4m teachers’ apartment project ahead of St Augustine’s 97th anniversary
2 hours