The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has assured workers of the Volta Aluminium Company (VALCO) that the government has no plans to sell the company.
Speaking during a meeting with management and staff at VALCO’s conference room on July 30, 2026 the Minister dismissed reports suggesting that the company was being sold. The meeting followed a demonstration by some workers over concerns about the alleged sale of the state-owned company.
The Minister for Lands explained that Cabinet had only approved the search for a strategic investor to inject the capital needed to revive VALCO.
According to him, more than US$700 million is required to modernise the ageing plant and restore it to full operation.
“Nobody will sell VALCO. Not under the watch of President John Mahama. We are only looking for the right partner to help turn the company around,” he assured.
The Minister noted that VALCO is burdened with over US$250 million in electricity debts, obsolete equipment, frequent operational breakdowns and declining production, making it difficult for the company to remain financially sustainable.
He stressed that bringing in a strategic investor would help modernise the plant, clear its debts, improve production and create more employment opportunities for Ghanaians.
To ensure transparency and protect workers’ interests, Mr Armah-Kofi Buah announced that a representative of the workers would be included on the investor selection committee, joining the management representative already serving on the committee.
The Chief Executive Officer of VALCO, Dr. Robert Sambian, welcomed the Minister’s assurance and appealed to workers to remain calm and support the ongoing process.
“Let us all have patience. Let us go through the process, bearing in mind that ultimately it is in the interest of the workers and the future of VALCO,” he said.
Dr. Sambian also assured staff that management would continue to prioritise their welfare throughout the negotiations with prospective investors.
