The Commander-in-Chief of the Economic Fighters League, Ernesto Yeboah, has strongly pushed back against suggestions by the Minister for Lands and Natural Resources, Armah Kofi Buah, that the Volta Aluminium Company Limited (VALCO) requires a strategic investor to address a $700 million funding shortfall.
Reacting to the government’s position on the state-owned aluminium smelter, Mr Yeboah argued that the core bottleneck confronting the company is not a deficit of foreign or private capital, but rather a lack of effective, uncorrupted governance.
According to him, Ghana’s long-standing struggle with public enterprise management stems from institutional interference rather than a lack of resources.
“VALCO’s greatest need is not a strategic investor. It is strategic leadership,” Mr Yeboah stated.
“Ghana has never lacked assets. Too often, we have lacked honest, competent, and politically insulated management. The answer to every challenge facing a state enterprise cannot always be to look outside for salvation. Sometimes the solution is to govern better,” he added.
Pointing to ongoing efforts within governance, the activist noted that exemplary leadership exists among emerging public servants. He called on young political actors to champion administrative competence over partisan loyalty.
“Encouragingly, a number of young public officials in this administration have demonstrated that integrity and competence still matter. Young people within the NDC should take pride in these examples and insist that merit, not patronage, becomes the standard for public service,” he said.
Mr Yeboah highlighted specific individuals whose appointments could help turn the company’s fortunes around if allowed to operate without political hindrances.
“If men of proven competence and integrity such as Edmund Kombat are given the space to lead without political interference, VALCO can recover. I am equally hopeful that a person like Mohamed Mikdad will distinguish himself if given the chance,” he asserted.
Concluding his statement, the Economic Fighters League leader warned against rushing into equity sales or divestment of critical infrastructure, urging state actors to prioritize institutional reform first.
“All I’m saying is, let us first exhaust the possibilities of competent public management before concluding that Ghana’s strategic assets must be rescued by private capital. Strong institutions, not hurried privatisation, are the foundation of lasting industrial transformation,” Mr Yeboah stressed.
By: Rainbowradioonline.com/Ghana