The Professional and Management Staff Union of the Volta Aluminium Company (PMSU-VALCO) has disassociated itself from the ongoing demonstration against the search for a strategic investor for the state-owned aluminium company.
The union, which represents Assistant Managers, Managers and Area Managers at VALCO, says it was neither consulted nor involved in the organisation of the protest and does not support any attempt to portray the demonstration as representing the collective position of VALCO workers.
This follows a demonstration by the VALCO Labour Union, where some participants reportedly claimed businessman, Ibrahim Mahama was interested in acquiring the state-owned company.
Howvever, Mr. Mahama has denied claims that he is seeking to acquire VALCO, clarifying that he has no interest in that.
In a statement on Monday, July 27, 2026, and signed by Isaac Odor, PMSU-VALCO said it had no prior knowledge of the demonstration before it was announced.
“We were not consulted, informed, or engaged in any form prior to the planning or announcement of this action. No management forum, meeting, or communication preceded it. Whatever position is being advanced through this demonstration, it is not the position of the professional and management staff of VALCO, and it must not be represented to the public, to Government, or to prospective investors as such,” the union stated.
PMSU-VALCO instead threw its support behind the government’s efforts to secure a strategic investor, arguing that significant capital injection is required to revive the company.
“We state unequivocally that VALCO needs a strategic investor,” it said.
According to the union, efforts to secure an investor have been ongoing for more than five years, while the condition of the plant has continued to deteriorate.
It said VALCO requires substantial investment to rebuild its facilities, improve production capacity and secure reliable power and raw material supplies, which it believes cannot be financed internally.
The union also rejected claims that an investment of about $60 million would be sufficient to restore the company to efficient operations.
“As the engineers, maintenance professionals and operations personnel who work on this plant every day, we reject that figure,” it said.
“It does not reflect the condition of the equipment. Much of the plant is obsolete rather than merely worn – beyond the point where refurbishment is meaningful, and in many cases beyond the point where spares and technical support remain commercially available. Restoring VALCO to efficient, competitive operation is not a repair exercise. It is a rebuild.”
PMSU-VALCO estimates that at least $700 million would be required to adequately revive the plant, based on what it described as the direct assessment of its professional and engineering members.
“Our assessment, grounded in direct working knowledge of the asset base, is that the requirement is of the order of $700 million or more. That is not a marginal difference of opinion. It is a difference of more than a factor of ten, and it goes to the heart of what is being asked of Government and of the Ghanaian taxpayer,” the statement said.
The union warned that spending $60 million on the plant would provide only temporary relief without addressing VALCO’s fundamental problems.
PMSU-VALCO consequently called for the technical and financial basis of the $60 million proposal to be published for independent scrutiny.
It also wants competing proposals for VALCO subjected to transparent financial and engineering assessments while the government proceeds with its search for a strategic investor.
The union further cautioned that the demonstration could send negative signals to prospective investors.
