The Minority Caucus in Parliament has demanded the immediate publication of all documents relating to the government’s proposed “strategic equity capitalization process” for the Volta Aluminium Company Limited (VALCO), insisting that Ghanaians deserve full transparency over the future of the state-owned aluminium smelter.
The demand follows concerns raised by workers of VALCO, who recently embarked on a demonstration over reports that government intends to introduce strategic investors into the company.
In a statement signed by the Ranking Member of Parliament’s Select Committee on Lands and Natural Resources, Kwaku Ampratwum-Sarpong, the Minority said government must stop relying on vague terminology and disclose every aspect of the proposed transaction.
According to the caucus, the phrase “strategic equity capitalization” fails to clearly explain whether government intends to sell part of VALCO, transfer ownership, dilute the state’s interest or hand over management control to private investors.
The Minority therefore demanded the publication of the complete framework governing the proposed process, together with VALCO’s latest audited financial statements, including its balance sheet, income statement and cash flow position.
It also called for the release of the company’s independent valuation report, the proposed equity structure, the identities of all prospective strategic investors and the criteria used in selecting them.
In addition, the Minority is demanding the publication of all Cabinet, Board and ministerial approvals that underpin the process.
“Ghanaians deserve facts, not vague terminology,” the statement declared.
The caucus maintained that the government has a duty to fully explain why it is pursuing an equity capitalization process despite recent announcements that VALCO had returned to profitability after recording a US$3.19 million profit in the first half of 2026.
Beyond the proposed transaction, the Minority alleged that developments within Ghana’s aluminium industry point to what it described as the concentration of influence around a single business interest, warning that such circumstances could create conditions for state capture if not subjected to public scrutiny.
It argued that public confidence can only be maintained if government demonstrates that all decisions concerning VALCO are transparent and free from undue influence.
Describing VALCO as a strategic national asset that plays a central role in Ghana’s integrated aluminium industry, the Minority said its future must not be negotiated in secrecy.
The caucus further pledged to resist what it described as any opaque transaction involving VALCO, stating that it would utilise every constitutional, legal and parliamentary mechanism available to ensure the company remains protected from what it called institutional capture and politically influenced decision-making.
The statement concluded by urging government to come clean on its plans, insisting that the concerns raised by VALCO workers and the Ghanaian public deserve clear and comprehensive answers.