News
VALCO not for sale- GIADEC boss
The Chief Executive Officer (CEO) of the Ghana Integrated Aluminium Development Corporation (GIADEC), Mr Reindorf Twumasi Ankrah, has stated that the Volta Aluminium Company (VALCO) is not for sale, but rather the government requires a strategic partner investment of $600 million.
He explained that VALCO, which has a capacity to produce 200,000 metric tons of aluminium annually, has been producing only 35,000 metric tons each year for the past 15 years, therefore, a partnership is needed to meet demand and restore the company’s fortunes.
“As of January 2025, VALCO’s debts had increased to about US$450 million, owed to institutions including GRIDCo, the Ghana Revenue Authority and the Tema Development Corporation(TDC). As the government does not have 600 million dollars to revive VALCO” he said.
In an interview with Ghanaian Times yesterday in Accra, Mr Ankrah said that in May 2022, the cabinet approved the search for a strategic investor to revive VALCO, as most of the machinery used was over 60 years old and lacked the capacity to produce more.
He mentioned that currently, the government lacks the financial capacity to sustain the company and must seek an investment of about 600 million dollars, which some financiers have shown interest in.
“And you know that from the time the government took over the management of VALCO and its ownership, things started declining. As of 2022, VALCO was shut down. When I say shut down, it means the plant was closed. Workers were laid off,” he said.
He added that records show that whenever there is a shutdown, resuming operations typically results in a reduced capacity because the plant does not return to its former operational level.
He emphasised that the only way for the government to find breathing space was to shut down the plant, as it was not contributing to the country’s GDP, stressing that the Company is running in millions of dollars’ debt.
Mr Ankrah noted that VALCO’s staff strength is currently around 650, compared to over 12,000 workers when it was fully operational and that the only valuable asset remaining is the land.
He mentioned that an internal audit valued VALCO at about $90 million, a situation investors argue otherwise as their machinery and logistics were outmoded noting that KPMG during their valuation valued VALCO a little over 100 million dollars.
He explained that the company produces about 23 per cent of its capacity, with less than 50 per cent of the installed capacity requiring approximately 90 megawatts of power to operate.
“But when you produce, you generate less revenue, and you may not even cover the electricity costs needed to produce between 30,000 and 40,000 tonnes of aluminium,” he said.
“KPMG recommended five options, with the first being to bring in an equity partner for managerial expertise and capital. This was a decision agreed upon by the then cabinet,” Mr Ankrah said.
He said that although some investors have expressed interest, no agreements have been reached, as they want control over staffing, including the ability to recruit or dismiss workers, which the government has rejected adding that currently, some investors have shown interest.
“The government decided that whoever is going to express interest in reviving the company must provide us with how they intend to generate power, and also give us their clear plan on retention of the existing staff. So this was the two key things based on which we started the process for searching for investment,” he said.
“The current plan aims to increase capacity to about 300,000 tonnes of aluminium annually, an additional 100,000 tonnes. An expert indicated that an investor could complete the new installation within about 36 months,” Mr Ankrah revealed.
He reaffirmed his commitment to building on the progress made by his predecessor and strengthening GIADEC’s role in developing the entire aluminium value chain.
BY BERNARD BENGHAN.
Members of the Lions and Leo clubs have undertaken a month-long e-waste awareness campaign to mark Environment Month in April.
They comprise of the Tema Supreme Leo Club, Tema Supreme Lions Club, Kumasi Adehyee Leo Club, Accra Sankofa Leo Club, Regional Maritime University Leo Club and Koforidua UTech Leo Club under Lions Clubs International District 418, Ghana.
The initiative, which commenced on April 1, combined digital outreach with community engagement to highlight the risks associated with improper disposal of electronic waste.
As part of the exercise, organisers rolled out a sustained social media campaign on platforms including Facebook and Instagram, featuring educational videos, animations, photo stories, interactive content such as puzzles and riddles, and perspectives from device repairers.
An online Google meet forum was also organised, bringing together resource persons from various Lions and Leo Clubs to discuss the realities of e-waste and its implications for public health and the environment.
To conclude the campaign, participants visited the Agbogbloshie E-waste Site to engage workers and document conditions at the site.
The project, themed “From Waste to Worth: Rethinking E-Waste in Ghana,” provided a platform for interaction with scrap dealers and workers who depend on this informal recycling process for their livelihoods.
Discussions centred on the risks associated with current disposal practices, particularly the burning of electronic materials, the risk of working without protective boots, hand gloves and masks which poses serious health and environmental concerns.
Project Lead, Leo Priscilla Ofei-Mensah, said the initiative aimed to deepen understanding and promote responsible practices and later provide some working essentials and training on safe recycling processes.
“Impact happens when we understand the problem. When people are aware of the dangers, they can make safer choices for themselves, their families and their communities,” she stated.
Agbogbloshie is one of the country’s major informal processing centres for discarded electronic devices, where materials such as copper and aluminium are recovered. While the activity provides a source of income, it also exposes workers and nearby residents to hazardous substances.
During interactions with the workers, many indicated that economic hardship and limited employment opportunities had led them into the trade.
She noted that the exercise forms part of a broader environmental focus and represents the beginning of sustained efforts to address the e-waste challenge.
She indicated that future interventions would promote safer alternatives that support livelihoods while improving environmental and health conditions.
Partner organisations also contributed to the initiative.
Creative Director at Inkspire Creative Studio, Alexander Annan highlighted the need for responsible management of electronic devices.
In addition, founder for Smiles in Colour, Mercy Peprah Asare drew attention to the health risks, particularly among children in affected communities.
We Communicate Impact handled documentation and storytelling, while Samrich Photography Foundation supported the production process and facilitated youth participation in a photography training initiative.
The team at the end of the activity expressed optimism that the campaign would encourage individuals and institutions to adopt more responsible approaches to electronic waste management. A documentary capturing conditions at the site is expected to be released.
By: Jacob Aggrey
The Bono East Regional Police Command has arrested two men for possessing suspected narcotic drugs without lawful authority following a patrol operation at Kintampo.
In a press release dated April 27, 2026, the police said the suspects, identified as Sadic Wemah, 42, and Senbeti Karim, 39, were arrested on April 26 at about 12:40 p.m.
According to the statement, a patrol team from the New Longoro Police Station intercepted an unregistered white Toyota Highlander on the Kintampo–New Longoro road. The vehicle, which was coming from the Kintampo direction, was searched by officers.
Police said the search uncovered two sacks containing 166 parcels of dried plant material suspected to be cannabis.
The suspects were arrested at the scene and taken to the Kintampo Divisional Criminal Investigations Department for further investigations. During interrogation, they admitted the substance was cannabis and claimed ownership, the police said.
The statement added that the suspects told investigators they bought the substance from a man identified only as Edem, also known as “Confirm,” who allegedly transports cannabis from the Volta Region through Tamale.
They further indicated that they received the drugs at a filling station near the new market in Kintampo and intended to transport them to Banda Nkwanta in the Bono Region for sale.
Police estimated the street value of the seized substance at about GH¢107,000.
The suspects are currently in police custody assisting with investigations, while the exhibits, including the suspected cannabis and the vehicle, have been retained for evidential purposes.
The Bono East Regional Police Command said it remains committed to fighting drug trafficking and related crimes.
It assured the public that efforts are underway to arrest other persons linked to the case, including the said Edem.
By: Jacob Aggrey
