Wonder Victor Kutor, a Board Member of the Volta River Authority (VRA), has dismissed claims that the Volta Aluminum Company (VALCO) is up for sale, describing them as untrue.
Instead, he says information available to him as a member of the VRA Board, which supplies power to the company, indicates that VALCO needs help.
According to him, the Company is battling some challenges and currently producing under capacity, a situation which would be resolved once a strategic investor comes in.
Speaking on the BigIssue segment on the NewDay morning show on Tuesday, July 28, 2026, Kutor emphasised that VALCO’s situation is dire and requires support.
“All is not well with VALCO,” he said, citing his position on the VRA Board, which supplies power to the aluminum smelter.
Kutor declined to reveal more details, citing an oath of secrecy, but stressed that efforts are underway to bring in a strategic partner to help the company. “There is effort to get a strategic partner to come in to help VALCO.”
His comments follow a demonstration by some staff of the Company on Monday, July 27, 2026, that the Company has allegedly been earmarked for sale.
The workers protested over concerns about the company’s alleged sale to a private firm, ARK Holdings, which belongs to Ibrahim Mahama, brother of President John Dramani Mahama.
The workers, who blocked the main entrance to the plant in Tema, expressed worry about job security and want transparency in the government’s plans.
Local Union Chairman, Samuel Watchman Agyeman, has decried what he described as leadership ignoring workers on developments concerning the company, despite raising concerns since January this year.
Meanwhile, CEO of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah, has denied allegations of attempting to secretly sell VALCO, saying the move is part of a state policy to prevent the plant’s shutdown and safeguard jobs.
Kutor’s comments come amid concerns about the company’s future, as it faces financial challenges.
The VRA Board Member’s statement suggests that while VALCO is not being sold, its financial situation is precarious. “VALCO needs help, they need support, that is the bottom line,” Kutor said.
Although Government has not officially indicated any plans to sell the Company, Kutor’s assertion suggests finding a solution to VALCO’s challenges remains a priority.
ICU urges Government to recapitalize VALCO, rejects foreign equity plans
