After facing mounting pressure from Organised Labour threatening a nationwide strike, the Social Security and National Insurance Trust (SSNIT) has decided to terminate the sale of its 60% stake in four hotels.
The decision, announced in a statement dated July 12, comes as a response to concerns raised by pensioners, contributors, and the general public regarding the controversial hotel sale.
SSNIT’s Board emphasized their dedication to managing the Trust’s affairs prudently to ensure the sustainability of the Pension Scheme.
Furthermore, Rock City Hotel has also withdrawn its bid to acquire the majority shares of the four hotels, as confirmed in a letter dated July 12.
