Tie VALCO management salaries to profitability - Lands Minister demands

The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has called for major reforms at the Volta Aluminium Company Limited (VALCO), including linking the salaries and benefits of management and board members to the company’s performance.

According to him, it is unfair for leaders of state-owned companies to continue receiving high salaries and allowances when the companies are struggling to make profits.

Speaking during a visit to VALCO in a video sighted on X, the minister questioned why government-owned companies have been unable to consistently generate profits despite receiving public support.

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He also raised concerns about VALCO’s current production levels, noting that the company is operating far below its full capacity.

He explained that although the plant has the capacity to produce 500 megawatts, it is currently operating at only about 90 to 95 megawatts, a situation he said requires urgent attention.

The minister further disclosed that the company owes power producers about $250 million for electricity already consumed, adding that the burden is eventually transferred to taxpayers.

“The taxpayers are being forced to pay,” he said.

He said improving the efficiency of the plant would not only help address its financial challenges but also create more employment opportunities for Ghanaians.

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According to him, VALCO currently employs more than 800 people, but with the right investments and reforms, the company could increase its workforce to between 1,500 and 2,000 employees.

The minister stressed that transforming VALCO into a productive and efficient company would require changes in its operations and management approach to ensure it contributes meaningfully to Ghana’s industrial growth.

All my life, I have never heard of a state-owned company making a profit, yet management and board members still receive fat salaries every month

Why doesn't the govt tie their salaries and emoluments to the profitability of the company?

Armah-Kofi Buah, Minister, at VALCO pic.twitter.com/yyAgIEvFks

— Kiss Me Quikk (@Kiss_Mequikk) July 31, 2026