The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, has challenged the newly inaugurated Governing Board of the Volta Aluminium Company Limited (VALCO) to lead a long-awaited transformation of Ghana’s vast bauxite resources into a thriving and sustainable aluminium industry.
Speaking at the inauguration ceremony, where ten members of the VALCO board were sworn in, the Minister underscored the strategic importance of aluminium to Ghana’s broader development agenda. He stressed that the country’s natural endowment must be translated into real economic value that benefits citizens.
“Ghana is blessed with abundant bauxite resources, and your duty is to ensure these resources are converted into tangible economic benefits that will support industrial growth, create jobs, and strengthen our economy.”
Hon. Emmanuel Armah-Kofi Buah, Minister for Lands and Natural Resources
The Minister recalled that Ghana’s ambition to build a fully integrated aluminium value chain dates back more than half a century.
According to him, the vision of adding value to the country’s bauxite resources was articulated as far back as 1967 but has remained largely unrealised despite repeated policy efforts.
He urged the new board to learn from the past and provide the decisive leadership needed to move the aluminium agenda from aspiration to reality.
“You must pursue a compelling vision, strengthen governance, and commit to strategic investments that will finally deliver a responsible and sustainable aluminium value chain for this country.”
Hon. Emmanuel Armah-Kofi Buah, Minister for Lands and Natural Resources
Hon. Buah emphasized that the renewed push aligns with government’s broader goal of promoting value addition, reducing raw material exports and deepening industrialisation.
Concerns Over Limited Local Utilisation
A key concern raised by the Minister was the low level of local utilisation of aluminium produced by VALCO. He noted that downstream aluminium industries in Ghana currently absorb less than 20 per cent of the company’s output, a situation he described as a major missed opportunity for domestic manufacturing.
“It is unacceptable that after all these years, VALCO is still unable to meet the needs of the local market,” he said. Hon. Buah stressed that strengthening linkages between VALCO and downstream manufacturers is essential to building a resilient industrial ecosystem.
He challenged the board to reverse this trend within its tenure, making domestic supply a priority. “By the end of your tenure, the Ghanaian market must be fully supplied,” the Minister added, signaling clear performance expectations.
Beyond market access, Hon. Buah called for urgent investments to modernise and expand the VALCO smelter. He noted that improving efficiency and increasing capacity are critical if the company is to play a central role in Ghana’s aluminium ambitions.
According to the Minister, modern technology and efficient operations would not only lower production costs but also enhance VALCO’s competitiveness in both regional and global markets.
He reminded the board that its oversight role includes ensuring prudent investment decisions that align with long-term national interests.
The Minister also underscored the importance of strong corporate governance, accountability and transparency, noting that public confidence in state-owned enterprises depends largely on how they are managed.
Board Pledges Accountability and Support
In his acceptance remarks, Board Chairman Horace Nii Ayi Ankrah expressed gratitude to President John Dramani Mahama and the government for the confidence reposed in the new board. He assured stakeholders that the board would work closely with management and staff to reposition VALCO for growth.
Mr. Ankrah pledged that the board would uphold the highest standards of corporate governance and accountability as it carries out its mandate. He emphasized that collaboration and shared purpose would be essential in addressing the challenges facing the company and unlocking its full potential.
He also assured employees of the board’s commitment to creating a supportive environment that empowers management to deliver results while maintaining oversight and strategic direction.
For Hon. Buah, the task before the board is clear. The challenge, he said, is to ensure that Ghana’s bauxite wealth translates into lasting economic value and industrial progress for generations to come.
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