Emmanuel Armah-Kofi Buah
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has dismissed claims that the Volta Aluminium Company (VALCO) is being sold, assuring workers that the government has no such intention.
He gave the assurance when he met with management and staff of VALCO at the company’s conference room on Thursday, July 30, 2026, following a demonstration by some workers over the reported sale of the company.
The Minister said Cabinet had only approved the search for a strategic investor to provide the capital required to revive and modernise the struggling aluminium company.
According to him, more than US$700 million is required to modernise the plant and restore it to full operational capacity.
“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 said.
Mr. Buah said VALCO is currently burdened with more than US$250 million in power debts, ageing equipment, frequent breakdowns and declining production, making it difficult for the company to operate sustainably.
He explained that government believes attracting a strategic investor is the best option to modernise the plant, address its debts and create more employment opportunities for Ghanaians.
As part of measures to protect workers’ interests during the investor-selection process, the Minister announced that a worker representative would be added to the selection committee.
The worker representative will join a management representative who is already serving on the committee.
The Chief Executive Officer of VALCO, Dr Robert Sambian, welcomed the Minister’s assurance and urged workers to remain calm and support the 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 added that management would ensure that workers’ interests remain central throughout the negotiations.
