The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed as false claims circulating on social media and other public platforms that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama.
In a press statement signed by the Chief Executive Officer, Reindorf Twumasi Ankrah described the allegation as “baseless, misleading, and without any factual foundation,”
The statement noted that neither Ibrahim Mahama nor any company linked to him has expressed interest in the ongoing process to secure a strategic equity partner for the state-owned aluminium smelter.
The Corporation explained that the current exercise is aimed at attracting credible strategic investors to provide the capital needed to retool and modernise VALCO, enabling it to serve as the anchor smelter in Ghana’s integrated aluminium industry.
The statement follows allegations reportedly made by individuals claiming to represent VALCO staff and led by one Samuel Watchman Agyeman, suggesting that the company was being sold to Mr. Mahama. GIADEC rejected the assertion outright and urged the public, stakeholders and VALCO employees to disregard the claims.
It also cautioned against the spread of misinformation that could create disaffection and undermine efforts to industrialise Ghana’s aluminium value chain.
GIADEC assured the public that it would continue to provide verified updates as the strategic partnership process for VALCO progresses.
Read the full statement below:
