Government Seeks Strategic Investor to Revive VALCO, Not Sell It – Lands Minister
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The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has assured workers of the Volta Aluminium Company (VALCO) that the government has no plans to sell the company, dismissing widespread claims suggesting otherwise.
Speaking during a meeting with VALCO’s management and staff at the company’s conference room on Thursday, July 30, 2026, following a demonstration by some workers over the alleged sale of the company, the Minister explained that Cabinet had only approved the search for a strategic investor to help restore VALCO’s operations.
According to him, the company requires more than US$700 million to modernise its ageing infrastructure and return it to full production capacity.
“Nobody will sell VALCO. Not under the watch of President John Mahama. We are only looking for the right partner to help turn the company around,” Mr. Buah stated.
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He noted that VALCO continues to face significant financial and operational challenges, including over US$250 million in power-related debts, obsolete equipment, recurring machinery breakdowns and reduced production levels, all of which have affected the company’s sustainability.
The Minister stressed that bringing in a strategic investor is the most viable solution to modernise the facility, clear its debts and create more employment opportunities for Ghanaians.
To ensure transparency and protect the interests of employees, Mr. Buah announced that a workers’ representative would be included on the investor selection committee, joining the management representative already serving on the committee.
The Chief Executive Officer of VALCO, Dr. Robert Sambian, welcomed the Minister’s clarification and appealed to workers to remain calm and allow the process to proceed.
“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.”
Dr. Sambian further assured staff that management would continue to prioritise the welfare and interests of workers throughout the engagement and negotiation process.
Source: Public Relations Unit, Ministry of Lands and Natural Resources.
