The Social Security and National Insurance Trust (SSNIT) has urged its subsidiaries to strengthen their operations, embrace innovation and become financially self-sustaining to protect the interests of pension contributors.
The Director-General of SSNIT, Kwesi Afreh Biney, said the trust could no longer routinely bail out subsidiaries that failed to demonstrate effective leadership, prudent management and the capacity to generate resources to sustain their operations.
He said SSNIT’s responsibility to more than 2.1 million members and over 265,000 pensioners required prudent management of pension funds and investments.
Mr Biney was speaking in Tema at the commissioning and integration of six bulk road vehicles and two operational vehicles acquired by Trust Logistics Limited (TLL), a subsidiary of SSNIT.
He said the assets of SSNIT and its subsidiaries must complement, rather than undermine one another, stressing that subsidiary companies had to take their destiny into their own hands and develop strategies for sustainable growth.
Support
He said SSNIT would support subsidiaries that demonstrated leadership, innovation and prudent resource management, but cautioned that prolonged financial support for poorly managed companies could expose the pension fund to risks.
Mr Biney said SSNIT paid more than GH¢600 million in pensions every month, hence making prudent investment decisions was essential because the funds represented workers’ hard-earned contributions.
He called for collaboration between SSNIT and its subsidiaries to create synergies, strengthen businesses and improve returns to the trust.
Fleet expansion
The Managing Director of the TLL, Maxwell Ziyerley Agbambilla, said the new fleet formed part of the company’s medium-term strategic plan to expand its operational capacity and overcome challenges associated with an ageing fleet.
He said when he assumed office in November 2025, he inherited a company facing financial and operational difficulties, including frequent vehicle breakdowns and high maintenance costs.
Mr Agbambilla said the last major addition to the fleet was made in 2015, making the latest acquisition an important step towards restoring the company’s competitiveness.
He, however, stressed that acquiring the vehicles was only the beginning, saying their effective deployment would be critical to increasing revenue and creating sustainable value.
Mr Agbambilla described the TLL as the government’s only haulage company and said its operations were strategically important to the national supply chain.
Revival
The Board Chairman of the TLL, Felix Nyarko-Pong, said the board was committed to reviving the company and positioning it as a financially sustainable and competitive subsidiary of SSNIT.
He acknowledged concerns over staff remuneration, saying improving salaries remained a commitment of the board.
He urged the staff to uphold high ethical standards, improve productivity and ensure responsible management of company assets to improve their conditions of service.
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