The Industrial and Commercial Workers’ Union (ICU-Ghana) has stepped up pressure on the government to keep the Volta Aluminium Company (VALCO) under Ghanaian ownership, following renewed concerns over the future of the state-owned aluminium producer.
The union on Monday, July 27, 2026, organised a protest march against what it described as attempts to dispose of the company, with General Secretary Morgan Ayawine warning that organised labour would resist any arrangement that could undermine jobs or national ownership of the strategic asset.
“July 27, 2026, is a great day. It is a day for the determination of our destiny as patriotic citizens of this country. We are here to determine the fate of one of the premier companies that was bequeathed by Osagyefo Dr. Kwame Nkrumah to all of us,” he said.
Mr Ayawine accused successive governments of pursuing the disposal of state assets and cautioned against allowing VALCO to become another target.
“It has been noticed that over the years, government after government has attempted to sell everything, and now they are at it again, and they want to sell VALCO.”
The union has, since January 2026, raised concerns about the company’s future and called for the removal of Ghana Integrated Aluminium Development Corporation (GIADEC) Chief Executive Officer, Reindorf Twumasi Ankrah.
GIADEC has denied plans for an outright sale, saying it is considering a co-ownership arrangement with a strategic private-sector partner. The explanation, however, has failed to convince the ICU, which says workers’ interests and Ghana’s ownership must be protected.
The controversy has also drawn businessman Ibrahim Mahama into the debate after protesters alleged that he was seeking to acquire VALCO.
In a statement posted on Facebook by his Special Aide, Rafik Mahama, Mr Mahama rejected the allegation and said he had neither expressed interest in nor submitted an offer to acquire the company.
“Mr Ibrahim Mahama has no such interest and has not made any such offer to acquire VALCO,” the statement said.
It described the allegation as part of attempts to damage his reputation.
“Unfortunately, the allegation is the latest in several vile attempts to impute the integrity of Ibrahim Mahama and subject him to needless public engagements,” it added.
The statement also defended Mr Mahama’s business record, saying his interests had been legally established or acquired and operated within the law.
“The track record of the integrity of the businesses that Mr Mahama has interest in proves that his businesses are one of the best-run operations across the African continent. All of the business interests of Mr Mahama have been legally commenced or acquired and operate within the ambit of applicable laws.”
Mr Mahama said he remained committed to investing in Ghana and had instructed his lawyers to pursue legal action over the allegations.
“He is committed to contributing his quota to the development of Ghana by investing in business opportunities in Ghana and beyond. He has instructed his lawyers to take the necessary legal action,” the statement said.
