The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed claims circulating on social media that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama, describing the allegations as false and without any factual basis.
In a press statement issued on Monday, July 27, 2026, GIADEC said the claims, allegedly made by some individuals purporting to be staff of VALCO and led by one Samuel Watchman Agyeman, were misleading and should be disregarded.
The corporation stressed that neither Ibrahim Mahama nor any company linked to him has expressed interest in the ongoing process to secure strategic equity capitalisation for the retooling and modernisation of VALCO.
According to GIADEC, the Government of Ghana remains committed to a transparent process aimed at attracting credible strategic partners to revitalise VALCO and position it as the anchor smelter in Ghana’s integrated aluminium industry.
The corporation urged the public, stakeholders and VALCO staff to ignore the allegations, cautioning against statements that could create disaffection and undermine ongoing efforts to industrialise Ghana’s aluminium value chain.
GIADEC further assured the public that it would continue to provide verified updates as the strategic partnership process for VALCO progresses. The statement was signed by the Chief Executive Officer of GIADEC, Reindorf Twumasi Ankrah.
Story By: Eric Boateng
