GIADEC Denies Claims VALCO Is Being Sold to Ibrahim Mahama

The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed claims circulating in the public domain that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama.

According to GIADEC, the allegations, reportedly being made by some individuals claiming to be staff of VALCO and led by one Samuel Watchman Agyeman, are “baseless, misleading, and without any factual foundation.”

GIADEC, in a statement issued on Monday, July 27, 2026, said neither Ibrahim Mahama nor any company associated with him has expressed interest in the ongoing process to secure strategic equity capitalisation for VALCO.

The process, according to the corporation, is intended to attract strategic investment to support the retooling and modernisation of VALCO and strengthen its role in Ghana’s aluminium industry.

“For the avoidance of doubt, GIADEC states emphatically that neither Mr. Ibrahim Mahama nor any company associated with him has expressed any interest in the ongoing process to secure strategic equity capitalization for the retooling and modernization of VALCO,” the statement said.

GIADEC said the government, through the corporation, remains committed to a transparent process to attract credible strategic partners for VALCO.

The objective, it said, is to retool the company and position it as the anchor smelter in Ghana’s integrated aluminium industry.

The corporation urged the public, stakeholders and VALCO staff to disregard the claims concerning an alleged sale of the company to Mr. Mahama.

It also cautioned individuals against making statements that, in its view, could create disaffection and undermine efforts to develop Ghana’s aluminium value chain.