The Board Chairman of the Volta Aluminium Company Limited (VALCO), Ambassador Horace Nii Ayi Ankrah, has dismissed claims that the state-owned aluminium smelter is being sold to businessman Ibrahim Mahama, assuring workers that no such proposal exists.
His remarks follow a protest by VALCO workers and members of the Industrial and Commercial Workers’ Union (ICU-Ghana), who expressed concerns over alleged plans to privatise the company and introduce strategic equity investors.
Amb. Ankrah stressed that VALCO is not for sale and said neither Ibrahim Mahama nor any individual has made an offer to acquire shares or invest in the company. He, however, noted that while the company is open to attracting investors to support its growth, there are no plans for privatisation or the introduction of a strategic investor that would take control of the business.
He also called for the Ghana Integrated Aluminium Development Corporation (GIADEC) to be decoupled from VALCO, arguing that doing so would help prevent misinformation and misunderstandings about the company’s future.
Addressing workers’ concerns over potential job losses, the Board Chairman assured employees that any future investment would not result in layoffs, pledging that the board would protect the jobs of all VALCO workers.