The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed reports alleging that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama, describing the claims as false and unfounded.
The Corporation’s response follows allegations made by individuals claiming to represent VALCO staff, reportedly led by Mr. Samuel Watchman Agyeman, suggesting that the company is being transferred to the businessman.
In a statement, GIADEC said there is no truth to the reports and stressed that neither Ibrahim Mahama nor any company linked to him is involved in the process to secure investment for the state-owned company.
“For the avoidance of doubt, GIADEC states emphatically that neither Mr. Ibrahim Mahama nor any company associated with him has expressed any interest in the ongoing process to secure strategic equity capitalization for the retooling and modernization of VALCO,” the statement said.
According to GIADEC, the government’s objective is to attract a credible strategic investor through a transparent process to strengthen VALCO’s operations and establish it as the anchor smelter within Ghana’s integrated aluminium industry.
The Corporation urged the public, VALCO employees, and other stakeholders to disregard what it described as misleading claims regarding the ownership of the company.
It also cautioned against the dissemination of information that could fuel public disaffection for VALCO
“We further caution individuals against making statements that seek to create disaffection and undermine ongoing efforts to industrialize Ghana’s aluminium value chain,” the statement concluded.
