The Social Security and National Insurance Trust (SSNIT) after they take the pension contributions of employees in Ghana invest the money for better returns.
Many contributors have indicated that they do not know what their funds are invested in.
SSNIT is currently the largest single institutional investor on the Ghana Stock Exchange and the main driver of the development of the Capital Market in Ghana.
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The Trust has investments spread in seven sectors namely Manufacturing, Finance, Insurance, Distribution, Food & Beverage, Mining and Agriculture.
Under manufacturing, SSNIT has constructed a number of hostels in some public universities around the country.
Below are the hostels
• Pent hostel:
This hostel is located on the campus of University of Ghana, Legon. The hostel has 990 rooms with 2743 beds.
• SSNIT hostel (UCC):
The hostel in UCC which is situated in a serene area on the campus has 144 rooms and 375 beds.
• Gaza hostel:
Gaza is located on the campus of Kwame Nkrumah University of Science and Technology (KNUST), Kumasi. The hostel has 272 rooms and 552 beds.
• SSNIT hostel (UEW)
The SSNIT hostel in University of Education-Winneba has 144 rooms with 375 beds.
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• SSNIT hostel (UDS, Navrongo)
Here SSNIT has 36 rooms and 144 beds.
• SSNIT hostel (UDS, Nyankpala-Tamale)
There are 42 rooms with 168 beds in this hostel.
The hostel rates are from GHC 1200 to over GHC 14,736. This depends on the campus you find yourself as a potential tenant.
Note: The management of the hostels is being undertaken by the Ghana Hostels Ltd. (GHL) – a wholly-owned subsidiary of SSNIT.