The Industrial and Commercial Workers’ Union (ICU-Ghana) has opposed any attempt to cede even the “smallest fraction” of the Volta Aluminium Company Limited (VALCO) to foreign or local investors. The union warned that such a move would undermine Ghana’s national interest.
Describing VALCO as a strategic national asset that must remain wholly owned by Ghanaians, the ICU insisted that equity participation was not the solution to the company’s operational challenges.
Mr. Benimah (seated right), Mr. Samuel Ananga, ICU Ghana DeputyGeneral Secretary, Administration (seated 2nd from left) with the VALCO
Board and Mgt reps. and new local Union Executives.
The Deputy General Secretary (Operations) of ICU-Ghana, Mr. Emmanuel Baah Benimah, who spoke on behalf of the General Secretary, Mr. Morgan Ayawine, made the position known at the inauguration of newly elected Local Union Executives of VALCO at Tema on Tuesday.
“Not even the smallest fraction of VALCO should be ceded to any interest through equity participation,” he stressed, urging the government to explore alternative means of recapitalising the company.
Mr. Benimah emphasised that VALCO belonged to the people of Ghana and must be preserved for future generations, noting that any form of divestment would be inimical to the country’s long-term economic interests. He observed that the challenges confronting the company were not new and could be overcome with decisive government action and adequate financial support.
He urged management and all stakeholders to support efforts to protect and preserve VALCO, stressing that the company must not be sacrificed for short-term convenience. The ICU-Ghana official further cautioned against the country’s over-reliance on royalties, which, he said, often represent only a fraction of the true value of national assets.
He called for renewed commitment to rebuilding VALCO to its former status, drawing lessons from its past performance and achievements as a key industrial asset. Mr. Benimah also expressed concern over the disposal of viable state enterprises in the past, linking the trend to rising unemployment and the decline of Ghana’s industrial base.
The Deputy General Secretary advised the newly elected Local Union Executives to be measured and responsible in the discharge of their duties, and to promote fairness, justice, and industrial harmony. Furthermore, he called for constructive engagement between management and labour, emphasising dialogue as an effective tool for resolving workplace disputes.
Mr. Benimah assured the executives of the National Union’s support and, by authority delegated to him, formally declared them duly inaugurated to serve a four-year term.
The elected executives of the VALCO Local Union are: Samuel Agyeman, Chairman; Uel Uzziel Matekole, Vice Chairman; David Kwabena Yeboah, Secretary; James Appiah, Assistant Secretary.
The rest are Joseph Agbanyo, First Trustee; Nii Okai Tagoe, Second Trustee; Joseph Atsu Damalie, Executive Member; Frank Annang, Youth Representative; Gifty Nyanfu, Women Representative; and Mark Spears Tetteh, Chief Shop Steward.
BY NORMAN COOPER
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