SSNIT
Encyclopedia
The SSNIT, or the Social Security and National Insurance Trust, is an important agency of the government of Ghana
. The "job description" of the SSNIT, according to its website
, is to administrate the National Pension Scheme. In so doing, the SSNIT owns major amounts of stock
in Ghana's principal companies, and is an important part of Ghana's economy
.
For example, SSNIT owns:
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. The "job description" of the SSNIT, according to its website
Website
A website, also written as Web site, web site, or simply site, is a collection of related web pages containing images, videos or other digital assets. A website is hosted on at least one web server, accessible via a network such as the Internet or a private local area network through an Internet...
, is to administrate the National Pension Scheme. In so doing, the SSNIT owns major amounts of stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
in Ghana's principal companies, and is an important part of Ghana's economy
Economy
An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area...
.
For example, SSNIT owns:
- 10% of Accra Breweries Limited; http://www.gcsinvestments.com/downloads/companyreports/ABL%20REPORT-2006.pdf
- 25% of AluworksAluworksAluworks is a manufacturing company based in Ghana. It was founded in 1978 and was converted to a public limited liability company in 1996.Aluworks is listed on the Ghana Stock Exchange and is a component listing of the GSE All-Share Index.-Operations:...
; http://www.gcsinvestments.com/downloads/companyreports/ALW%20REPORT%202006.pdf - 30% of Ghana Commercial BankGhana Commercial BankGhana Commercial Bank, normally abbreviated to GCB, is a commercial bank in Ghana. The bank is the largest indigenous financial institution in the country.-History:...
; http://www.gcsinvestments.com/downloads/companyreports/GCB%20-%20THE%20MOST%20TRADED%20STOCK.pdf - 20% of HFC BankHome Finance CompanyHome Finance Company, commonly referred to as HFC Bank, is a major commercial bank in Ghana, West Africa.-Overview:The bank was created in 1990 as a shell company within Merchant Bank . In 1994 HFC Bank became a publicly traded company. In 1995 it became listed on the Ghana Stock Exchange. The...
; and http://www.gcsinvestments.com/downloads/companyreports/HFC%202006-%20BRANCH%20EXPANSION%20DIPS%20BOTTOM%20LINE.pdf - 20% of SG-SSBSG-SSBSG-SSB is a bank that is based in Ghana. The name "SG-SSB" stands for "Société Générale - Social Security Bank"; the bank is part of the Société Générale banking group. The bank is based in Accra and its stock is listed on the Ghana Stock Exchange. It is a component of the GSE All-Share Index...
(SG Social Security Bank).http://www.gcsinvestments.com/downloads/companyreports/SG-SSG%20LATEST%20REPORT-2006.pdf