The Minority Caucus in Parliament has thrown its support behind workers of the Volta Aluminium Company Limited (VALCO), calling on the government to disclose details of what it describes as a “strategic equity capitalization process” involving the state-owned company.
In a press statement issued on July 29, the caucus said the concerns raised by the workers should not be ignored because they understand the company’s operations and future.
According to the Minority, the government has failed to clearly explain what the proposed equity capitalization process involves and whether it could result in the sale, transfer of ownership, or privatization of VALCO.
It argued that the government should be transparent with Ghanaians instead of using technical language that leaves room for uncertainty.
The caucus also questioned why the government was pursuing the process after VALCO’s Board Chairman recently announced that the company made a profit of US$3.19 million in the first half of 2026.
According to the Minority, if the company has returned to profitability, the government must explain why it is considering changes to its ownership structure.
The statement further expressed concern over what it described as the growing concentration of influence around one business interest in institutions linked to Ghana’s aluminium industry.
The Minority claimed that the situation could undermine public confidence and urged the government to prove that decisions regarding VALCO are being made fairly and without favouritism.
It maintained that VALCO is a strategic national asset that belongs to the people of Ghana and that its future should not be decided behind closed doors.
The caucus called on the government to immediately publish the framework for the proposed strategic equity capitalization process, VALCO’s latest audited financial statements, an independent valuation of the company, the proposed equity structure, the identities of all prospective strategic investors, and the criteria used to select them.
According to the Minority, making the information public would help assure Ghanaians that the process is transparent and in the national interest.
By: Jacob Aggrey
