The Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, has assured workers of the Volta Aluminium Company (VALCO) that the government has no intention of selling the state-owned aluminium smelter, pledging instead to address the financial and operational challenges confronting the company.
His assurance comes after some aggrieved workers staged a protest over claims that the government planned to sell VALCO to businessman Ibrahim Mahama.
Addressing workers during a meeting with staff, the Ellembelle MP dismissed the claims, insisting that the government’s priority is to revive the company rather than divest it.
“We won’t sell VALCO, but we will fix the crisis,” the minister assured the workers.
Mr. Buah acknowledged the company’s financial difficulties, revealing that VALCO currently owes independent power producers more than $250 million.
According to him, the government is committed to implementing measures to restore the company’s operations and ensure its long-term sustainability.
The minister also directed the management of VALCO to take disciplinary action against any staff found to have circulated false information regarding the alleged sale of the company.
He stressed that the spread of misinformation had created unnecessary anxiety among workers and the public.
Meanwhile, Chief Executive Officer of VALCO, Robert Sambian, reaffirmed the company’s commitment to working closely with the government to reposition the aluminium smelter.
He assured the minister of management’s readiness to collaborate in implementing reforms aimed at revamping the company and restoring its fortunes.
Tension flared at VALCO earlier this week after some workers protested over reports alleging that the government intended to sell the state-owned aluminium smelter to businessman Ibrahim Mahama.
The reports sparked concerns among employees about the future of the company and their jobs.
The government has, however, denied the claims, insisting that its focus is on addressing VALCO’s financial and operational challenges to restore the company to profitability.
