HomeInsuranceSSNIT hasn’t received payment from strategic investor for four hotels, according to...

SSNIT hasn’t received payment from strategic investor for four hotels, according to source

SSNIT hasn’t received payment from strategic investor for four hotels, according to source.

The Social Security and National Insurance Trust (SSNIT) has not received any payment from the investors who bid for the 60% stake in four of its hotels, a source has told asaaseradio.com.

Reports claim that the investors in the four SSNIT hotels has only paid a deposit upfront with the balance being covered with the operating revenues from running the hotels.

However, the source said that claim is completely false as negotiations are still ongoing.

A statement issued by SSNIT on Sunday (19 May), said the process of getting a strategic investor is in its final stages and therefore not yet concluded.

This means that the financial transactions for the investment in these hotels have not taken place as SSNIT is still in negotiations with the investor.

The Trust is seeking to partner a strategic investor to raise capital to invest in the hotels, and also assist in their management.

Source : Asaaseradio

See also  SSNIT communicates to Ablakwa that the strategic investor process is nearing its end but is not yet complete.
Get the news that matters! Join our WhatsApp channel for trusted, timely, and relevant updates.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
fairafric

Most Popular

Recent Comments

error: Content is protected !!