GIADEC dismisses claims of VALCO sale to Ibrahim Mahama

The Ghana Integrated Aluminium Development Corporation, GIADEC, has denied reports that the Volta Aluminium Company Limited, VALCO, is being sold to businessman Mr. Ibrahim Mahama.

In a press statement dated 27th July 2026 and signed by CEO Reindorf Twumasi Ankrah, GIADEC described the allegations as "baseless, misleading, and without any factual foundation."

The claims were said to have been made by some persons purporting to be staff of VALCO led by one Mr. Samuel Watchman Agyeman.

*CUE IN: GIADEC*

"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."

*CUE OUT*

GIADEC said the Government of Ghana, through the Corporation, remains committed to a transparent process aimed at attracting credible strategic partners to retool VALCO and position it as the anchor smelter in Ghana’s integrated aluminium industry.

The Corporation urged the public, stakeholders, and staff of VALCO to disregard the "unfounded claims" and cautioned against statements that seek to create disaffection and undermine efforts to industrialize Ghana’s aluminium value chain.

GIADEC added that it will continue to update the public with verified information as the strategic partnership process for VALCO progresses.