The Industrial and Commercial Workers’ Union (ICU)–Ghana has reiterated its strong opposition to any form of equity divestment in the Volta Aluminium Company Limited (VALCO), urging management to pursue alternative strategies to revive the company’s operations.
The call was made during the inauguration of newly elected local union executives of VALCO in Tema, where the Union emphasized the need to safeguard the company as a critical national asset.
In a speech delivered on his behalf, ICU General Secretary Mr. Morgan Ayawine stressed that VALCO must remain wholly owned and protected in the national interest. He cautioned against ceding any portion of the company to either local or foreign investors, insisting that Ghana must prioritize full ownership of its strategic resources.
He further encouraged VALCO’s leadership to explore lawful and sustainable avenues to recapitalize the company without resorting to equity participation, noting that reliance on royalties alone often fails to reflect the true value of national assets.
The Union also called for stronger collaboration between management and workers to maintain industrial harmony. Mr. Ayawine underscored the importance of resolving disputes through constructive dialogue, mutual respect, and fairness.
Addressing the newly elected executives, the Union advised them to act responsibly and in line with the principles of the national body, emphasizing the need to promote justice, balance, and professionalism in their dealings with management.
The newly inaugurated executives include Mr. Samuel Agyeman as Chairman, Mr. Uel Uzziel Matekole as Vice Chairman, and Mr. David Kwebena Yeboah as Secretary, among others tasked with representing workers’ interests.
The Union reaffirmed its readiness to work with all stakeholders to stabilize VALCO’s operations, stressing that preserving the company’s integrity is essential for national development and future generations.
