Workers of the Volta Aluminium Company (VALCO) in Tema on Monday staged a demonstration to protest what they describe as an alleged plan to sell the state-owned smelter to businessman Ibrahim Mahama for a reported US$70 million.
The protesters, carrying placards and chanting slogans, questioned the reported valuation of the company and its assets.
Among the messages displayed during the demonstration was: “Ibrahim Mahama wants to take VALCO for 70 million dollars. Don’t VALCO’s assets/properties cost more than that? Is he the only Ghanaian in this country?”
The demonstration follows weeks of growing tension over reports that government is considering bringing in a strategic investor to revive the aluminium smelter. Workers and their union have repeatedly expressed concerns about the lack of consultation and demanded transparency over any proposed transaction.
Earlier protests saw VALCO workers block the entry of officials from the Ghana Integrated Aluminium Development Corporation (GIADEC), insisting that their concerns over the company’s future had not been adequately addressed. Workers have also called for the removal of GIADEC’s leadership, arguing that decisions affecting the company should prioritize employees and the national interest.
Reports circulating on social media indicate that the latest demonstration is linked to claims that Ibrahim Mahama could acquire VALCO for US$70 million. However, neither the Government of Ghana, GIADEC, VALCO management nor Ibrahim Mahama had, at the time of publication, officially confirmed the reported purchase price or the completion of any sale.
The Industrial and Commercial Workers’ Union (ICU), which represents many VALCO employees, has maintained that workers are primarily concerned about job security, transparency and ensuring that any restructuring of the company protects Ghana’s strategic interests.
The demonstration is expected to intensify public debate over the future of VALCO, a key component of Ghana’s integrated aluminium industry, as workers continue to demand clarity on government’s plans for the company.
