'VALCO will not be sold under my watch' - Lands Minister

The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has dismissed claims that the Volta Aluminium Company (VALCO) will be sold under his watch, assuring workers and Ghanaians that the government remains committed to safeguarding the strategic state-owned company.

He made the disclosure when he met with management and staff at VALCO’s Conference Room on July 30, 2026, following a demonstration by some staff about the purported sale of VALCO.

The minister said Cabinet had only approved the search for a strategic investor to provide the capital needed to revive the struggling company.

He revealed that more than US$700 million is required to modernise the plant and restore it to full operation.

His remarks come amid protests by the Industrial and Commercial Workers’ Union (ICU-Ghana), which has expressed concerns over reports alleging that the government intends to sell a majority stake in VALCO to a private investor.

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Addressing concerns over reports of a proposed sale of a 70% stake in VALCO to a private investor, the minister said the government would not allow a handful of individuals to undermine the future of the company through negative public commentary.

“We are not going to allow a few people to derail the future of the VALCO that we all love. We can’t,” he said.

Buah criticised what he described as persistent negative narratives about the company, saying such comments create an inaccurate impression that VALCO cannot be revived.

“Every day, we have a few people who go on radio and are so negative that somehow this place is not a place we can turn around,” he stated.

The minister emphasised VALCO’s significance to Ghana’s industrial development, describing it as a symbol of the nation’s history and economic aspirations.

“This is the heart and soul of Ghana, if people don’t know. As all of us know, this is part of the history of our country,” he said.

Buah’s assurances are expected to calm concerns among workers as he reaffirmed the government’s commitment to preserving VALCO and ensuring its long-term viability.

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 workers’ interests remain central throughout the negotiations.

ANAS/MA

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