Government settles 50% of GHS 5 Billion debt owed to SSNIT

Following extensive negotiations, the Government of Ghana has settled GH₵2.5 billion of GH₵5 billion debt to the Social Security and National Insurance Trust (SSNIT) through bonds.

SSNIT's Director-General, Kofi Osafo-Maafo, highlighted that this payment addresses long-standing arrears that have impacted SSNIT's financial health.

As of December 2021, government debt comprised 75% of SSNIT’s GH₵9.3 billion outstanding debt, affecting investment returns.

Despite challenges, SSNIT reported a net surplus of GH₵864 million in 2023, credited to improved collections and investment management.

SSNIT continues efforts to strengthen its financial position and safeguard long-term viability.