The Minority Caucus in Parliament has questioned the government’s decision to pursue what it describes as a “strategic equity capitalization process” for the Volta Aluminium Company Limited (VALCO), arguing that the move contradicts recent announcements that the state-owned aluminium smelter has returned to profitability.
In a statement issued on Wednesday, July 29, 2026, and signed by the Ranking Member on Parliament’s Select Committee on Lands and Natural Resources, Kwaku Ampratwum-Sarpong, the Minority expressed solidarity with VALCO workers who recently staged a demonstration over concerns about the company’s future.
According to the Minority, the workers’ protest should not be dismissed because they are the people who operate the company daily and have a firsthand understanding of its operations and prospects.
“The issue before Ghana is much bigger than any individual,” the statement said, adding that government must explain in clear terms what it means by the proposed “strategic equity capitalization process.”
The caucus questioned whether the process would result in the sale of part of VALCO, a transfer of ownership, surrender of management control or privatisation under a different name.
It argued that if the government believes the process is in Ghana’s best interest, it should have no difficulty presenting the full details to Parliament and the Ghanaian public.
The Minority further pointed to recent remarks by the Chairman of the VALCO Board, who announced that the company recorded a profit of US$3.19 million during the first half of 2026, describing it as evidence of the company’s turnaround after years of financial challenges.
“If VALCO is recovering. If VALCO is profitable. If VALCO is finally turning the corner, then why is Government suddenly pursuing what it calls a strategic equity capitalization?” the statement asked.
The caucus questioned what had changed in the company’s financial position and demanded answers on the economic justification for restructuring the ownership of a company that government had recently celebrated for returning to profitability.
“The government cannot celebrate profitability today and quietly restructure ownership tomorrow without explaining itself to the people of Ghana,” it stressed.
The Minority also expressed concern over what it described as an emerging pattern within Ghana’s aluminium industry, alleging that the concentration of influence around one business interest could undermine public confidence in decisions affecting the sector.
It argued that government bears the responsibility of demonstrating that every decision concerning VALCO is free from influence, favouritism and predetermined outcomes.
Describing VALCO as a strategic national asset central to Ghana’s integrated aluminium industry and industrial transformation agenda, the Minority insisted that the company’s future cannot be determined behind closed doors.
The caucus also pledged to use every constitutional, legal and parliamentary mechanism available to scrutinise the process and ensure that any decisions affecting VALCO are transparent and in the national interest.