VALCO Modernization Agenda Progresses
…Board, Management Hold Talks With Lands Ministry
The Board and Management of the Volta Aluminum Company (VALCO) have had a fruitful engagement with the superiors at the Ministry of Lands and Natural Resources to map out strategies towards the modernization of the company to make it more viable.
The team, led by the Board Chairman, Dr. Henry Benyah, and recently-appointed Managing Director, Daniel Nii Kwatey Titus-Glover, discussed, among others, plans to fully revamp VALCO to its past glories.
Deputy Minister in charge of Mining, George Mireku Duker, who chaired the meeting on behalf of the sector minister, commended the Board for the unity among its members and urged them to continue to work tirelessly to revive the company.
The meeting follows a recent tour of the company by the Deputy Minister towards the modernization agenda of VALCO in achieving the President’s dream of establishing an integrated Aluminium Industry in Ghana.
Mr. Duker emphasized the need for VALCO to modernise its operations and devise a suitable module to address its challenges.
He encouraged the Board to work hard in order to tell its own success story to all in the not-too-distant future.
The Board Chairman, on his part, trumpeted the achievements of his outfit since assuming office, in spite of the huge debt they had inherited.
He said, “The Board inherited a debt of about 15million dollars in 2020 and with hard work recorded profit of about 8.7million in 2021 and about 5.7 million dollars in 2022, notwithstanding its challenges, such as protest from workers for better working conditions which affected the company’s production in 2022.”
He indicated that the Board is working assiduously to execute its mandate and make VALCO thrive again, taking into cognisance the diverse opportunities across the world.
In his remarks, the Chief Executive Officer of GIADEC, Mr. Michael Ansah, reiterated efforts made by his outfit to ensure that VALCO is well positioned to play an effective part in the Integrated Aluminium industry.
The former CEO and Board Member, Mr. Daniel Acheampong, who was also present at the meeting, commended the current management of VALCO and called for the modernisation of VALCO to enable it to contribute significantly to the development of Ghana.
The Managing Director, Nii Titus-Glover, urged all stakeholders to come together to help achieve the dream of His Excellency, Nana Addo Dankwa Akufo-Addo, of bringing back VALCO to its feet.