The Minority Caucus in Parliament has thrown its support behind workers of the Volta Aluminium Company Limited (VALCO) following their recent demonstration against what they describe as attempts to alter the ownership and control of the state-owned aluminium producer.

In a press statement issued on behalf of the Minority Caucus on July 29, 2026, Ranking Member of Parliament's Select Committee on Lands and Natural Resources, Kwaku Ampratwum-Sarpong, said the workers' concerns must be taken seriously, arguing that they are best placed to understand the company's operations and future prospects.

"Their demonstration must not be trivialized. These are not politicians. These are not propagandists. These are the men and women who keep VALCO running every single day," part of the statement said.

The Minority expressed concern over what government has described as a "strategic equity capitalization process" for VALCO, arguing that the term remains unclear and has raised more questions than answers.

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According to the statement, government has failed to explain whether the process involves the sale of part of the company, a transfer of ownership, a surrender of management control or a form of privatization.

The caucus criticised what it called the use of "corporate jargon" to obscure the true nature of public policy decisions concerning a strategic national asset.

"If Government is convinced that this process serves Ghana's interest, then it should have no difficulty placing every detail before Parliament and the Ghanaian people," the statement noted.

The Minority also questioned the rationale behind the proposed restructuring, citing recent announcements by the VALCO Board that the company recorded a profit of US$3.19 million during the first half of 2026.

The caucus argued that government cannot celebrate the company's return to profitability while simultaneously pursuing changes to its ownership structure without providing a clear explanation.

"If VALCO is financially healthy, what economic logic justifies restructuring its ownership?" the statement asked.

The Minority stressed that VALCO remains central to Ghana's integrated aluminium industry and broader industrialisation agenda.

The caucus warned against any attempt to alter the company's ownership without adequate public scrutiny, declaring that the future of the company must not be determined behind closed doors.

In a worded section of the statement, the Minority said, "It appears the vultures are gathering to devour the corpse of VALCO," while cautioning that the company must not become another "political trophy."

To ensure transparency, the Minority called for the immediate publication of;

The full framework governing the strategic equity capitalisation process.

VALCO's latest audited financial statements.

An independent valuation of the company.

The proposed equity structure.

The identities of all prospective strategic investors.

The criteria used in selecting investors.

All Cabinet, Board and ministerial approvals related to the process.

"The workers have spoken. The Ghanaian people are watching. Government must come clean.”



AM

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