Kwesi Pratt Jnr is the Managing Editor of Insight Newspaper
Managing Editor of the Insight newspaper, Kwesi Pratt Jnr, has criticised proposals to sell a 70% stake in the Volta Aluminium Company (VALCO) in exchange for a $600 million investment.
He described the plan as a poor decision that risks undermining national control over a strategic asset.
Speaking on Metro TV on Wednesday, July 29, 2026, Pratt Jnr argued that Ghana’s vast mineral wealth should be leveraged to finance VALCO without ceding majority ownership.
Government seeks private capital to modernise VALCO - GIADEC
He noted that the country’s bauxite reserves, valued at about $48 billion, could serve as collateral to raise the required capital.
“We are sitting on bauxite worth $48 billion, yet we claim we cannot raise $600 million. Isn’t that strange?” he asked.
He questioned why government would consider giving away a controlling stake in VALCO when the company’s potential and Ghana’s mineral resources could be used to attract funding.
“This industry can become the backbone of our industrialisation project. Why surrender 70% of it for $600 million? It makes no sense,” he said.
Pratt Jnr maintained that the need for capital does not justify selling a majority share of the aluminium company.
Instead, he suggested that government explore alternative financing arrangements, including loans from banks and financial institutions, based on VALCO’s commercial viability.
Parliament approves tax relief for minimum wage earners
“On the strength of the enterprise, you can approach banks, secure $600 million, retrofit and expand operations, and repay as a loan. Financial institutions don’t need to own shares to provide funding,” he explained.
He stressed that the debate over VALCO should be framed around sound economic judgment and national interest, not ideology.
His comments come amid ongoing discussions on how best to secure investment to restore VALCO’s operations and position the aluminium industry as a driver of Ghana’s industrialisation agenda.
Are You Crazy? $600m for 70% shares in a $ 45Bn-worth VALCO? - Kwesi Pratt fumes over VALCO conundrum#GoodMorningGhana #MetroTV pic.twitter.com/06HeKOQyO9
— Metro TV Ghana (@metrotvgh) July 29, 2026
Copyright © 1994 - 2026 GhanaWeb. All rights reserved.
