Businessman Ibrahim Mahama has firmly denied allegations linking him to a purported bid to acquire the Volta Aluminium Company (VALCO), describing the claims as entirely unfounded and malicious.
His response comes after reports emerged from a demonstration organised by the VALCO Labour Union, where some participants were said to have claimed that the businessman was positioning himself to take over the state-owned aluminium producer.
In a statement released through his Special Aide, Rafik Mahama, the renowned entrepreneur stated that he has never expressed any intention to purchase VALCO and has not submitted, directly or indirectly, any proposal relating to the acquisition of the company.
The statement stressed that suggestions of his involvement in any takeover discussions are false and should be disregarded by the public.
According to Mr Mahama, the allegations are part of a deliberate campaign aimed at tarnishing his reputation and creating unnecessary public speculation around his business activities.
He maintained that his investments and business ventures have consistently been established and expanded through legitimate commercial processes in full compliance with Ghana’s legal and regulatory framework.
The statement further highlighted that his companies have remained operational and successful through successive administrations, attributing their longevity to sound corporate governance, prudent management, and strict adherence to the law.
Mr Mahama reiterated his commitment to supporting Ghana’s industrial growth and economic transformation through responsible private-sector investment, while also expanding his business interests across other African markets.
He emphasised that his focus remains on creating employment opportunities, contributing to national development, and promoting sustainable economic growth rather than pursuing unfounded acquisitions attributed to him.
Describing the reports as baseless, the statement warned against the circulation of misinformation capable of misleading the public and damaging the reputation of individuals and businesses.
Mr Mahama also announced that he has instructed his legal team to commence proceedings against individuals or organisations responsible for publishing or promoting what he described as false claims concerning a supposed VALCO takeover.
He expressed confidence that the legal process would help establish the facts and protect his reputation against what he considers defamatory allegations.
The statement concluded by urging the public to rely only on verified information from credible sources and to disregard rumours linking him to any proposed acquisition of VALCO.
