ICU protests alleged sale of VALCO, demands job security

The Industrial and Commercial Workers' Union (ICU)-Ghana has staged a protest against the alleged sale of the Volta Aluminium Company (VALCO), warning that any move to transfer ownership of the state-owned aluminium producer could put thousands of jobs and a strategic national asset at risk.

The demonstration, held on Monday, July 27, comes after months of growing concerns among VALCO workers, who have claimed since January 2026 that the company is being positioned for a possible sale under the leadership of the Chief Executive Officer of the Ghana Integrated Aluminium Development Corporation (GIADEC), Reindorf Twumasi Ankrah.

In addition to opposing the alleged sale, some workers have called for the removal of the GIADEC CEO, accusing him of overseeing plans that could fundamentally alter the ownership structure of the company.

Although GIADEC has repeatedly denied claims that VALCO is being sold, the workers' union says those assurances have failed to address lingering concerns.

According to GIADEC, the government is exploring a co-ownership arrangement with a strategic private-sector investor rather than pursuing an outright sale of the aluminium company. The corporation argues that such a partnership is intended to attract investment, improve operational efficiency, and strengthen VALCO's long-term sustainability.

However, ICU-Ghana maintains that workers have not received sufficient information about the proposed arrangement and fears that any change in ownership could eventually lead to job losses or reduced state control over one of Ghana's most important industrial assets.

Addressing the protesters, ICU-Ghana General Secretary Morgan Ayawine said the demonstration was organized to defend workers' livelihoods and preserve VALCO as a strategic state-owned enterprise established to support Ghana's industrial development.

"July 27, 2026, is a great day. It is a day for the determination of our destiny as patriotic citizens of this country. We are here to determine the fate of one of the premier companies that was bequeathed by Osagyefo Dr. Kwame Nkrumah to all of us," he said.

Ayawine described VALCO as a national asset whose future should be guided by the interests of Ghana and its workforce rather than privatization efforts.

The ICU General Secretary argued that successive governments have attempted to divest state-owned enterprises and cautioned against repeating what he believes would be a costly mistake with VALCO.

"It has been noticed that over the years, government after government has attempted to sell everything, and now they are at it again, and they want to sell VALCO.

"We are not here to do politics. We are not partisan politicians. We are labour unions, and our duty is to ensure that jobs are created," he stated.

Ayawine stressed that the union's protest was driven solely by the need to protect employment and safeguard the future of workers who depend on the company for their livelihoods.

The protest adds to ongoing debate over the future of Ghana's aluminium industry and the role of private investment in revitalizing state-owned enterprises.

ICU-Ghana is calling on the government and GIADEC to provide greater transparency regarding any discussions involving VALCO's ownership structure and to engage workers before implementing decisions that could affect their employment.

The union insists that any reforms or investment partnerships involving VALCO must prioritize job security, protect Ghana's strategic interests, and ensure that the company continues to contribute to the country's industrialization agenda.

While GIADEC continues to insist that no outright sale of VALCO is planned, the union says it will remain vigilant until workers receive clear assurances about the company's future and the security of their jobs.