Accra: The Minority Caucus in Parliament has expressed its support for the workers of the Volta Aluminium Company Limited (VALCO) following their recent protest against perceived attempts to change the ownership and control of the state-owned aluminium producer.
According to Ghana Web, the Minority Caucus, through a press statement issued by Kwaku Ampratwum-Sarpong, Ranking Member of Parliament's Select Committee on Lands and Natural Resources, emphasized the importance of taking the workers' concerns seriously. The statement argued that the employees are in the best position to understand the company's operations and future prospects, urging that their demonstration should not be trivialized.
The Minority criticized the government's description of a "strategic equity capitalization process" for VALCO, highlighting the lack of clarity surrounding the term and the numerous questions it raises. The statement further questioned whether this process involves selling part of the company, transferring ownership, surrendering management control, or a form of privatization. The Minority accused the government of using "corporate jargon" to obscure the true nature of public policy decisions regarding the strategic national asset.
Furthermore, the Minority Caucus raised questions about the rationale behind the proposed restructuring, especially after the VALCO Board announced a profit of US$3.19 million during the first half of 2026. They argued that the government cannot celebrate the company's return to profitability while pursuing changes to its ownership structure without providing a clear explanation.
The Minority stressed the importance of VALCO in Ghana's integrated aluminium industry and broader industrialisation agenda. They warned against any attempt to alter the company's ownership without adequate public scrutiny, insisting that decisions about the company's future should not be made behind closed doors.
The statement included a cautionary note, "It appears the vultures are gathering to devour the corpse of VALCO," while warning that the company must not become a "political trophy." To ensure transparency, the Minority called for the immediate publication of several documents, including 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, and all relevant approvals related to the process.
"The workers have spoken. The Ghanaian people are watching. Government must come clean," the statement concluded.