Ibrahim Mahama Rejects VALCO Acquisition Claims, Warns of Legal Action Over Allegations
Businessman Ibrahim Mahama has denied reports that he plans to acquire the Volta Aluminium Company (VALCO). He described the claims as false and said he will take legal action against those responsible.
Mahama issued the response through his representatives after reports linked him to a possible takeover of the state-owned aluminium smelter.
He said he has not submitted a bid for VALCO. He also stated that he has no interest in acquiring the company.
Mahama described the reports as misleading. He said they unfairly damage his reputation and misrepresent his business activities.
He has instructed his lawyers to begin legal proceedings against anyone who published or circulated the allegations.
The reports emerged after some labour groups expressed concern over speculation about VALCO’s future. Some protesters claimed the government intended to sell the company to Mahama.
Mahama rejected those claims. He insisted that neither he nor any of his companies had pursued such a transaction.
The Ghana Integrated Aluminium Development Corporation (GIADEC) also addressed the issue.
GIADEC said it is not selling VALCO to Ibrahim Mahama. The corporation added that neither Mahama nor any company linked to him has expressed interest in the ongoing search for a strategic equity partner.
According to GIADEC, the government wants to attract an investor with the financial strength and technical expertise to modernize the aluminium smelter.
The corporation said any investment process will remain transparent and follow established procedures.
VALCO plays an important role in Ghana’s aluminium industry. The company supports the country’s efforts to add value to its bauxite resources and expand industrial production.
Labour unions continue to monitor developments closely. They have called on the government to protect workers’ interests and keep the process transparent.
Industry experts say strategic investment could improve VALCO’s operations and increase production. They also believe stronger stakeholder engagement will build public confidence.
Mahama’s statement seeks to end speculation surrounding his name. He maintains that the reports are false and says the courts will determine the legal consequences for those who published them.
Government officials have indicated that they will communicate any major decisions about VALCO through official channels.
