The Industrial and Commercial Workers’ Union (ICU) has petitioned President John Dramani Mahama to halt the alleged sale of the Volta Aluminium Company (VALCO), warning of nationwide action if the government proceeds with plans to transfer a controlling stake to a private investor. In a letter dated July 27, 2026, ICU General Secretary Morgan Ayawine said the union has credible information that the Ghana Integrated Aluminium Development Corporation (GIADEC) intends to release a 70 per cent equity stake in VALCO to Arch Holdings Consortium, effectively handing over management and operations to a private investor. “VALCO is a strategic national asset that has witnessed significant progress in recent years and must therefore be protected and preserved for the benefit of present and future generations,” the union stated.
The union appealed directly to President Mahama, citing his 2026 May Day address in Koforidua, in which he urged organised labour not to “sit back and look on aloof when management and governing boards are mismanaging their enterprises”. “As we pivot to growth, we must protect the human capital that drives it. A Reset Ghana means a Healthy Ghana,” the union quoted the President as saying.
The union said it remains confident that, as a listening President, Mahama will not allow GIADEC to proceed with a transaction that would undermine the nation’s strategic interest. The petition follows a protest march on Monday, July 27, during which VALCO workers, clad in red attire, marched through the streets of Tema carrying placards with messages including “VALCO is not for sale,” “Mr President, Protect VALCO,” and “Who is behind ARCH Holdings Limited?” The protesters presented the petition to Tema Metropolitan Chief Executive Ebi Bright, who assured them that their concerns would be forwarded to the appropriate authorities. “In good faith, we will send this message across, and I want to reassure you that this is a listening government,” Bright said.
The ICU argued that the transfer of VALCO to a private investor poses significant risks, including potential job losses, diminished workers’ welfare, and adverse financial consequences for both the workforce and the State. “The State and the workforce have invested enormous resources, expertise and dedication in restoring VALCO to its current state of progress. It is therefore unacceptable to relinquish contr…
The Industrial and Commercial Workers’ Union (ICU)-Ghana has intensified its opposition to the alleged sale of the Volta Aluminium Company (VALCO), staging a protest to demand that the government abandon any plans to transfer ownership of the state-owned aluminium producer. The demonstration comes amid growing concerns among sections of VALCO’s workforce, who have, since January 2026, maintained that the company is being positioned for sale under the leadership of the Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah. The workers have also renewed calls for his dismissal.
Although GIADEC has repeatedly denied claims that VALCO is being sold, insisting instead that it is exploring a co-ownership arrangement with a private sector partner, the assurances have done little to allay the fears of organised labour. The ICU says it remains unconvinced that the proposed arrangement will adequately protect workers’ interests and the long-term future of the company. Addressing demonstrators on Monday, July 27, ICU-Ghana General Secretary Morgan Ayawine said the protest was intended to defend jobs and safeguard one of Ghana’s most significant state-owned enterprises.
Summary from source