The Social Security and National Insurance Trust (SSNIT) says the recent clearance of unauthorised occupants from the beachfront adjoining the Labadi Beach Hotel and La Palm Royal Beach Hotel was undertaken to protect its investments in the two properties.
SSNIT said it sought the urgent intervention of the National Security Council Secretariat to address what it described as persistent unlawful occupation, encroachment and unauthorised activities on the beachfront adjoining and directly in front of the two hotels.
The Trust said the Labadi Beach Hotel and La Palm Royal Beach Hotel form part of its investment portfolio and constitute significant national hospitality and tourism assets.
According to SSNIT, it has a fiduciary responsibility to safeguard the investments, preserve their value and ensure that they continue to generate sustainable returns for contributors and pensioners under the Basic National Social Security Scheme.
SSNIT, however, clarified that the clearance was not intended to privatise or restrict public access to the beach.
The intervention, it said, was focused on addressing unauthorised occupation and activities along the beachfront while protecting the Trust’s hotel investments.
