Labadi Beach Hotel pays GHS25 million dividend to SSNIT 

By Patrick Ofoe Nudzi

Accra, Nov. 15, GNA – Labadi Beach Hotel, one of Ghana’s premier 5-Star Hotels has paid GHS25 million as dividend to the Social Security National Insurance Trust (SSNIT), its sole shareholder for the year 2022. 

Fully owned by SSNIT, the Hotel in February this year, had presented a cheque for GHS 10 million dividends for the year 2021. 

The achievements continued to show the Hotel’s resilience and resolve to make indigenous companies profitable despite the many economic challenges.

Mr David Eduaful, Managing Director of the Hotel, said, “As we honour our obligation of declaring dividends to the shareholder today, it is important to acknowledge the overwhelming support and patronage of our valued customers who continue to make us number one.”

He said the payments were possible due to the unwavering support from the Board of Directors, Management and staff, who collectively implemented cost cutting and waste minimization measures in recent times. 

Mr Eduaful said: “Having employees with the right mindset and attitude, and being consistent with service delivery is key in achieving the overall goal of the company. We continue to invest in the human capital of the hotel to respond to the demands of today’s guest.”

He said the Hotel would continue to demonstrate its commitment to excellent service, ensure that business and leisure traveler would enjoy the right ambience and amenities.

“In the area of education, we have churned out professionals of whom some are doctors, lawyers, accountants and entrepreneurs, through our scholarship scheme instituted to benefit children of our hardworking staff,” the Managing Director said. 

The strength of the hotel was put to test in June this year when it provided catering services (breakfast, lunch and dinner) for nearly four thousand delegates that attended the 30th Anniversary and Annual General Meeting of Afrexibank in Accra.

Prof Douglas Boateng, Chairman of the Board, Labadi Beach Hotel, said, SSNIT had allowed the board to perform its fiduciary responsibilities with virtually no interference. 

“Companies can declare profits but not necessarily payout dividends. If shareholders appoint the right board and allow them to responsibly discharge their duties, the end result is accountable governance and consistent performance. 

The best of Labadi is yet to come,” he said.

In its 32 years of operation, the Labadi Beach Hotel continues to deliver world class services to its cherished guests, both local and International. 

The location of the Hotel, which is 8.7km from the Airport and the Central Business District of Accra and adjacent to one of Ghana’s most popular beaches in the city.

With an initial 104 rooms built in 1991, Labadi Beach Hotel has expanded its room capacity to 164 including two Presidential Suites, 4 Executive Suites, 4 Superior Suites, 5 Bars, 2 restaurants and a 900-seater multi-purpose conference and banqueting facilities.

The Hotel has a Spa carefully designed for couple and individual needs with plunge pool, well equipped Gym, Lagoon for fishing, 2 plush Leisure and lap pools on a sprawling landscaped garden overlooking the natural Maale Lagoon.