The Industrial and Commercial Workers’ Union (ICU Ghana) has urged the government to revitalise struggling state‑owned enterprises, including the Volta Aluminium Company (VALCO), PBC Limited and the Cocoa Processing Company, to strengthen local production and create jobs for the country’s growing youth population.
According to the Union, renewed investment in these enterprises, alongside the textile industry, would expand industrial capacity and help restore the performance of companies facing operational and financial difficulties.
General Secretary of ICU Ghana, Morgan Ayawine, stressed the need for the government to retain and recapitalise VALCO rather than sell the state‑owned company, arguing that such enterprises remain important to the country’s industrial development.
“When government decided to sell out one of its great assets that we have in this country, precisely that is about Valco, we said, no. Government should rather maintain Valco and recapitalise Valco,” he said. “We have other enterprises such as the PBC limited. We are making interventions on behalf of PBC to bounce back to the field to purchase cocoa. We have the Cocoa Processing Company that is also struggling to survive. Government must strengthen efforts to help some of these struggling companies to survive,” he added.
Mr Ayawine made the call on Wednesday, October 15, 2026, at an event organised by Business Executive, organisers of the Africa’s Most Influential Persons Awards 2026, where he was recognised for his contribution to trade unionism. He was named one of the 100 most influential trade unionists in Africa.
According to the organisers, his selection was based on his influential leadership and advocacy in trade unionism, corporate governance and government policy direction, aimed at promoting socioeconomic development, business growth and industrial advancement.
Commenting on the recognition, Mr Ayawine attributed the award to the support he had received from the union’s leadership, management, staff and rank and file, as well as its social partners. He expressed appreciation to all those who had supported his work and said he looked forward to continued collaboration to advance their shared objectives and mutual interests.
Ghana’s industrial sector will watch closely to see if the government responds to the union’s plea, as the revival of these state‑owned firms could unlock significant job creation and boost the country’s manufacturing output.
