The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed reports that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama, describing the claims as false and misleading.
A statement issued by the corporation on Monday said neither Mr Mahama nor any company associated with him had expressed interest in the ongoing process to secure a strategic equity partner for the state-owned aluminium smelter.
It said allegations circulating in the public domain and attributed to individuals claiming to represent VALCO staff had no factual basis.
Mr Reindorf Twumasi Ankrah, Chief Executive Officer of GIADEC, said the Government’s objective remained to attract a credible strategic investor to support the retooling and modernisation of VALCO.
According to the corporation, the process is aimed at strengthening the company and positioning it as the anchor smelter in Ghana’s integrated aluminium industry.
GIADEC urged the public, stakeholders and VALCO employees to disregard reports suggesting that the company was being sold to Mr Mahama.
It also cautioned against the circulation of information that could create unnecessary anxiety among workers and undermine efforts to transform Ghana’s aluminium value chain.
The statement follows public speculation over the future ownership of VALCO, which has raised concerns among sections of the company’s workforce.
GIADEC said it would continue to provide verified updates as the process to secure a strategic equity partner progresses.
