The Ghana Integrated Aluminium Development Corporation (GIADEC) has dismissed reports that the Volta Aluminium Company Limited (VALCO) is being sold to businessman Ibrahim Mahama, describing the claims as false and misleading.

In a statement issued on Monday (27 July), GIADEC said neither Ibrahim Mahama nor any company associated with him had expressed interest in the ongoing process to secure a strategic equity partner for the state-owned aluminium smelter.

The corporation said allegations circulating in the public domain and attributed to individuals claiming to represent VALCO staff have no factual basis.

GIADEC Chief Executive Officer Reindorf Twumasi Ankrah said the government’s objective remains to attract a credible strategic investor to support the retooling and modernisation of VALCO.

According to the corporation, the process is intended to strengthen the company and position it as the anchor smelter in Ghana’s integrated aluminium industry.

It urged the public, stakeholders and VALCO employees to disregard reports suggesting the company was being sold to Ibrahim Mahama.

GIADEC also cautioned against the circulation of information that could create unnecessary anxiety among workers and undermine efforts to transform Ghana’s aluminium value chain.

The statement follows public speculation over the future ownership of VALCO, which has prompted concerns among sections of the company’s workforce.

GIADEC said it would continue to provide verified updates as the process to secure a strategic equity partner progresses.