VALCO records $1.4m profit in first nine months of 2026

The Volta Aluminium Company Limited (VALCO) has achieved a significant financial turnaround, reporting a positive EBITDA (earnings before interest, taxes, depreciation, and amortization) of $1.4 million for the first nine months of 2026. This performance marks a major recovery from the $13.08 million loss recorded during the same period in 2025. Speaking at the Government Accountability and Progress Series in Accra, CEO Dr. Robert Makila Sambian revealed that total revenue rose by 13% to reach $103.85 million, driven by the production of nearly 30,000 metric tonnes of aluminium.

The company’s recovery is largely attributed to a strategic pivot toward value-added manufacturing. A key driver of this growth is the newly operational Continuous Casting and Rolling (CCR) Electrical Grade Rod Mill, which processes primary liquid aluminium into high-grade electrical rods. This facility has enabled VALCO to expand its market reach beyond raw metal exports, supplying critical materials to both domestic infrastructure projects and international markets in Europe. This shift toward local processing aligns with President John Dramani Mahama’s industrial agenda focused on national value addition.

Operational efficiency also played a crucial role in the turnaround. VALCO implemented a new 1:4:4 shift system that improved continuity and productivity while expanding the workforce. Employee numbers grew from 785 to 848 during the review period, with projections to reach 1,500 direct jobs as operations scale further. Under a modernization program termed ‘Project Falcon,’ the company is also retooling its facility to increase the number of active reduction cells from 104 to 200 by 2027, with 98 cells expected to be active by the end of October 2026.

Looking ahead, VALCO aims to serve as the anchor for a fully integrated aluminium industry in Ghana. Dr. Sambian outlined a ten-year vision to reach an annual production capacity of 1.5 million metric tonnes. Achieving this scale will require approximately $4 billion in strategic investment for infrastructure and energy. If realized, the company projects these expansions could generate up to $3 billion in annual profit and create more than 5,000 direct jobs, significantly bolstering Ghana’s industrial sector.