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SNNIT witness sharp increment in enrolment of persons in the informal sector
The Social Security and National Insurance Trust (SSNIT) has witnessed a sharp increase in the enrolment of persons in the informal sector onto the SSNIT scheme.
From May 2022 to May 2023, persons registered onto the scheme increased from 14, 000 to 54,000, representing a 2.9 % jump from the previous 0.5 %.
Dr John Ofori-Tenkorang, Director General of SSNIT who disclosed this attributed the feat to various activities being carried out by SSNIT to ensure that more people enroll in the scheme.
He said the Self Employed Enrolment Drive (SEED) campaign launched by the scheme last year was catching up with the people hence the enthusiasm and interest shown by the people to join the scheme.
SSNIT in the next couple of years Dr Tenkorang noted is aiming to register at least two million people in the informal sector through leveraging technology and aggressive public sensitization to achieve the needed results.
He said the 3.2 million informal sector workers representing 6.1 per cent of the population were the ones driving the Ghanaian economy and cannot be left out to their fate in their old age.
The focus of the campaign he said is geared towards eliminating old age poverty associated with older persons who failed to insure their future in their productive years in the country.
Dr Tenkorang was speaking in an interview with Journalists on the sidelines of public engagement with the various associations of informal sector workers in Sunyani yesterday in the Bono Region.
The forum organised by the Trade Union Congress (TUC) in partnership with SSNIT was aimed at equipping the participants with relevant information about the SSNIT scheme in order for them to partner with the Trust in its drive to educate the public in the informal sector, especially the self-employed.
The Director General of SSNIT earlier in a presentation indicated that while those in public sector employment are enjoined by law to join the scheme, that cannot be said of those in the informal sector hence the need to encourage them to join to secure their future.
The Scheme he noted offers unique benefits and provides value that no other pension product offers especially in times of invalidity, and death adding that about 1000 invalid persons were currently enjoying pension from SSNIT.
He further explained that the Scheme is not for any special group of people but for all saying no matter where one works “we all have the same needs SSNIT was determined to change the narrative through several fora to drum home the message. “
The Chairman for the occasion Nana Ansu Gyeabour who represented the GPRTU commended SSNIT for the initiative but was quick to add that SSNIT must do more especially in the area of publicity so as to get everybody on board.
Some of the participants during the open forum called on SSNIT to initiate steps to “open up ” the age limit to allow more people to enrol, especially those above 45 years and above.
By Daniel Dzirasah, Sunyani
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
