Managing Editor of the Insight newspaper, Kwesi Pratt Jnr, has raised concerns over plans to sell a 70 per cent stake in the Volta Aluminium Company Limited (VALCO) in exchange for a proposed $600 million investment, describing the move as detrimental to Ghana’s control over a strategic national asset.
Speaking on Metro TV on Wednesday, July 29, 2026, Mr. Pratt argued that Ghana has enough mineral resources to secure the needed funding for VALCO’s revival without transferring majority ownership to private investors.
He said the country’s bauxite deposits, estimated to be worth about $48 billion, could be used as a basis for raising capital to modernise and expand the aluminium company.
“We are sitting on bauxite worth $48 billion, yet we claim we cannot raise $600 million. Isn’t that strange?” he questioned.
The veteran journalist questioned the rationale behind surrendering a controlling interest in VALCO when the company has the potential to play a major role in Ghana’s industrial transformation.
“This industry can become the backbone of our industrialisation project. Why surrender 70% of it for $600 million? It makes no sense,” he stated.
Mr. Pratt maintained that while VALCO requires significant investment to restore its operations, the need for funding should not result in Ghana losing majority ownership of the company.
He proposed that government consider alternative financing arrangements, including securing loans from commercial banks and other financial institutions using VALCO’s economic potential as leverage.
“On the strength of the enterprise, you can approach banks, secure $600 million, retrofit and expand operations, and repay as a loan. Financial institutions don’t need to own shares to provide funding,” he explained.
He stressed that decisions regarding the future of VALCO must be guided by economic considerations and the protection of Ghana’s national interests rather than political or ideological arguments.
Mr. Pratt’s comments come amid ongoing discussions on how best to attract investment to revive VALCO and strengthen Ghana’s aluminium industry as a key pillar of the country’s industrialisation drive.
Are You Crazy? $600m for 70% shares in a $ 45Bn-worth VALCO? – Kwesi Pratt fumes over VALCO conundrum#GoodMorningGhana #MetroTV pic.twitter.com/06HeKOQyO9
— Metro TV Ghana (@metrotvgh) July 29, 2026
