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Business News Thu, 24 May 2012

SSNIT records its highest dividend ever

Social Security and National Insurance Trust (SSNIT) has received its biggest ever dividend from its investments in the country.

The dividend amounting to over 11 million cedis emanated from SSNIT’s shares in ECOBANK Ghana.

SSNIT has stakes in many of the commercial banks in the county as well as many institutions in the country.

Last year it sold its stakes in the Trust Bank (TTB) to ECOBANK Transnational Incorporated (ETI) through a share swap. ETI the parent company of ECOBANK Ghana subsequently off loaded the shares to ECOBANK Ghana increasing SSNIT’s stake in the bank to 16 percent.

The move makes SSNIT the second largest shareholder of ECOBANK Ghana.

“Since this is our baseline in everything we do, we try to make sure the graphs go higher. We hope that next year will even be bigger,” Kwame Peprah is board chair told Citi News

The dividends are that of the last year.**

Source: citifmonline