SSNIT to Build Five-Star Hotels in Accra and Kumasi Under US$1 Billion Tourism Push

The Social Security and National Insurance Trust (SSNIT) will build five-star hotels in Accra and Kumasi by 2030, alongside a chain of four-star properties across three regions, as part of a US$1 billion government investment in tourism and hospitality, Finance Minister Dr. Cassiel Ato Forson has announced.

Presenting the 2027 Budget Statement to Parliament on Thursday, November 12, 2026, Dr. Forson said the government would grant targeted tax incentives to SSNIT to facilitate the developments, which form a central plank of Pillar Five of the government's New Economy agenda.

"Government will grant tax incentives to SSNIT to also build by 2030: a five-star hotel in Accra; a five-star hotel in Kumasi," Dr. Forson told Parliament.

The minister said the hotels would position Ghana as West Africa's preferred destination for international conferences, business tourism, and major events, while expanding accommodation options beyond the country's major cities.

Beyond the Big Cities

The plan extends well beyond the two flagship five-star properties. The government is proposing affordable four-star hotels in the Volta Region, Northern Ghana, and along the Cape Coast-Elmina heritage corridor. Officials say the additional facilities are intended to support eco-tourism and heritage tourism, spreading the economic benefits of visitor spending to regions that have historically lacked quality accommodation.

The hotel programme will be complemented by an ultra-modern international convention centre at the La Trade Fair Centre in Accra, also to be built and operated by SSNIT. The 81,422-square-metre facility is slated to feature a 3,000-seater main conference hall, a Presidential Hall for high-level meetings, and four large auditoriums. President John Mahama is expected to cut the sod for the project in the coming weeks.

A Sector Already Growing

The investments come as Ghana's tourism sector shows strong momentum. International tourist arrivals reached 1,306,962 in 2025, up from 1,288,804 in 2024, generating an estimated US$4.34 billion in revenue, according to the Ministry of Tourism, Culture and Creative Arts. Domestic tourism visits also grew seven percent, from 1.68 million to 1.79 million over the same period.

The number of licensed tourism enterprises rose 6.1 percent to 7,109 in 2025, with travel trade enterprises recording the highest growth at 18.6 percent.

Dr. Forson said the government expects the new investments to drive higher arrivals, longer stays, greater visitor spending, and stronger foreign-exchange earnings by 2030.

SSNIT's Expanding Hospitality Footprint

The new hotel projects build on SSNIT's existing portfolio of hospitality assets. The Trust already owns six hotels along Ghana's coast, including the five-star Labadi Beach Hotel in Accra, the four-star La Palm Royal Beach Resort, and the three-star Elmina Beach Resort, Busua Beach Resort, and Ridge Royal Hotel in Cape Coast.

In May 2026, SSNIT was forced to deny reports that it was selling off its hotel investments, clarifying that advertisements at the time were seeking consultants to improve operations at Golden Beach Hotels Limited, which manages La Palm, Elmina, and Busua. The Trust reaffirmed that Labadi Beach Hotel "continues to perform strongly and remains a strategic investment."

The new builds represent a significant expansion of that portfolio—and a substantial commitment of pension funds into hospitality infrastructure. SSNIT has not disclosed the estimated cost of the hotel projects or how they will be financed alongside the convention centre.

A Broader Tourism Blueprint

The US$1 billion earmarked for tourism, culture, and the creative arts under the 2027 Budget also includes the completion of a new National Theatre in Kumasi, expected to serve as a cultural, performance, conference, and creative industry hub.

As Parliament begins deliberations on the budget, the focus will be on whether SSNIT—already the subject of public scrutiny over its investment decisions—can deliver these projects on time and on budget, and whether the promised tax incentives will translate into the jobs and visitor spending the government envisions.