VALCO records over $120m revenue in 2025 as labour minister pledges support
1st March 2026
The Volta Aluminium Company (VALCO) generated more than $120 million in revenue as of December 2025, its Chief Executive Officer, Robert Sambian, has disclosed.
Dr Sambian revealed the figures during a visit by the Minister for Labour, Jobs and Employment, Rashid Pelpuo, to the company’s Tema facility on February 26, 2026.
VALCO currently employs about 800 workers. During the visit, Dr Pelpuo met with management and representatives of the local workers’ union, explaining that the engagement formed part of a broader government effort to assess operational conditions within state-owned enterprises.
He indicated that the ministry was particularly interested in understanding the welfare of employees, workplace safety standards and the overall performance of the company.
According to the Minister, government policies and interventions can significantly influence whether state enterprises expand or decline. He referenced an unnamed company where employment reportedly fell from 2,000 to 1,200 workers due to policy challenges.
Dr Pelpuo described VALCO as a strategic national asset with the potential to drive economic growth if adequately supported. He linked the company’s prospects to Ghana’s recent economic performance, attributing improvements in the country’s standing among Africa’s largest economies to sound governance.
The Minister also criticised past financial mismanagement, alleging that large sums of public funds and import payments had not been properly accounted for. He further lamented the collapse of several state-established enterprises, including textile factories, iron and steel plants, an automobile assembly venture and the defunct national carrier, Ghana Airways, stressing the need for revival efforts.
VALCO was established under the industrialisation vision of Ghana’s first President, Kwame Nkrumah, as part of an integrated aluminium industry. Construction of the smelter began in 1964, with commercial production commencing in March 1967.
The company initially had an annual production capacity of 120,000 metric tonnes, which increased to 200,000 metric tonnes following expansions in 1970 and 1974. Early investment and technical expertise were provided by Kaiser Aluminum.
In 2004, amid financial difficulties, the Government of Ghana acquired full ownership of VALCO. Since 2011, however, the smelter has operated below capacity, producing approximately 40,000 metric tonnes annually.
Dr Pelpuo said his visit was intended to evaluate the company’s operational challenges and identify areas where government support could enhance productivity, revenue generation and job security.
He emphasised the need for sustained collaboration to ensure VALCO operates efficiently within Ghana’s economic framework while safeguarding employment and contributing to national development.