The Minority Caucus in Parliament has accused the Mahama administration of pursuing the “capture” of the Volta Aluminium Company Limited (VALCO) in secrecy, and demanded full disclosure of plans to restructure the state-owned smelter.

In a press statement dated 29 July and signed by Kwaku Ampratwum-Sarpong, Ranking Member of the Parliamentary Select Committee on Lands and Natural Resources, the Minority said it stood “in unwavering solidarity” with VALCO workers who protested to defend the company.

The caucus questioned the government’s description of a “strategic equity capitalization” process for VALCO, asking whether it meant selling part of the company, transferring ownership, or privatization “through another name.”

“If VALCO is profitable… If VALCO is finally turning the corner… then why is Government suddenly pursuing what it calls a ‘strategic equity capitalization’?” the statement said.

It cited a recent announcement by the VALCO Board that the company recorded a profit of $3.19 million in the first half of 2026, which it described as a “remarkable turnaround.”

The Minority also alleged a pattern of “state capture,” claiming that institutions responsible for managing strategic national assets were being populated by individuals with ties to the same business interests.

“Ghanaians are witnessing what increasingly appears to be the systematic concentration of influence around one business interest,” the caucus said. “VALCO will not be another political trophy.”

The group listed seven demands, including the immediate publication of the framework governing the equity capitalization process, VALCO’s latest audited financial statements, an independent valuation, details of prospective strategic investors, and all Cabinet and ministerial approvals related to the process.

“We will deploy every constitutional, legal and parliamentary mechanism available to ensure that VALCO remains protected from opaque transactions, institutional capture,” the statement said.

“The workers have spoken. The Ghanaian people are watching. Government must come clean.”