Government must come clean on VALCO's future — Minority

The Minority Caucus in Parliament has declared its support for workers of the Volta Aluminium Company Limited (VALCO).

The Industrial and Commercial Workers’ Union (ICU)-Ghana staged a protest against the alleged sale of the Volta Aluminium Company (VALCO).

The workers expressed fear that any move to transfer ownership could lead to loss of employment and threaten their livelihoods.

Reacting to this in a statement issued on Tuesday, July 29, and signed by the Ranking Member on Parliament's Select Committee on Lands and Natural Resources, Kwaku Ampratwum-Sarpong, the caucus urged the government to fully disclose its plans for what it describes as a "strategic equity capitalization process" involving the state-owned company.

The caucus said the concerns raised by the workers should not be dismissed and noted that any decision affecting one of Ghana's strategic national assets must be transparent and subjected to public scrutiny.

"The issue before Ghana is much bigger than any individual. The real issue is why Government has chosen to shroud the future of VALCO in secrecy. Government now speaks of a so-called 'strategic equity capitalization process.' What exactly does that mean?" the caucus asked.

The Minority argued that if the government believes the process is in Ghana's best interest, it should have no difficulty making the details available to Parliament and the public.

The caucus also questioned the rationale behind the proposed equity process, pointing to a recent announcement by the Chairman of the VALCO Board that the company recorded a profit of US$3.19 million during the first half of 2026.

According to the Minority, the government's position appears inconsistent with the company's reported financial recovery and raises concerns about the future ownership structure of VALCO.

"The Minority will not sit by while another strategic national asset is quietly placed on the altar of politically connected interests. We shall deploy every constitutional, legal and parliamentary mechanism available to ensure that VALCO remains protected from opaque transactions, institutional capture and the resurrection of the notorious 'Create, Loot and Share' culture," it said.

It demanded the immediate publication of the framework governing the proposed strategic equity capitalization process, VALCO's latest audited financial statements, an independent valuation of the company, the proposed equity structure, the identities of prospective strategic investors, the selection criteria used and all Cabinet, Board and ministerial approvals relating to the process.

The Minority emphasized that Ghanaians deserve full disclosure on the future of VALCO and vowed to use all constitutional, legal and parliamentary means available to ensure transparency and accountability.