The Volta Aluminium Company Limited (VALCO) has achieved a significant financial turnaround, recording a positive EBITDA of $1.4m for the first nine months of 2026. This marks a recovery from the $13.08m negative EBITDA recorded during the same period in 2025. The company's financial performance for the period ending 30th September 2026 was presented by VALCO Chief Executive Officer, Dr. Robert Makila Sambian.
VALCO's total revenue reached $103.85m, representing a 13% increase over the $91.78m generated during the first nine months of 2025. The financial details were presented on November 3, 2026, during the Progress Series hosted by the Ministry of Lands and Natural Resources. This event highlighted key milestones in Ghana’s industrial sector, showcasing VALCO's progress.
According to Dr. Sambian, the commercial growth is attributed to the commercial operation of VALCO’s first-ever value-addition line—the Continuous Casting and Rolling (CCR) Electrical Grade Rod Mill. This facility processes primary liquid aluminium into high-grade electrical rods for both Ghanaian domestic industrial use and European export markets.
To sustain continuous 24-hour manufacturing at the CCR plant, VALCO adopted a 1:4:4 shift system. This work structure assigns every operational role to four personnel across four rotating shifts, allowing for uninterrupted production, maximizing output, and eliminating worker fatigue. The company now has 848 employees, up from 785 in December 2025.
The combination of value-addition processing and the 1:4:4 operational structure has driven headcount expansion. VALCO projects that full potline restoration alongside downstream expansion will scale direct employment to 1,500 workers while sustaining over 6,000 indirect jobs nationwide. This growth is part of the company's strategy to protect and expand revenue streams.
VALCO executed a retooling programme to support its expansion, acquiring new equipment and infrastructure. The company also secured 5,000 metric tonnes of imported carbon anodes to support the expansion of reduction cells toward a target of 150 units. With stabilized plant operations, VALCO is on track to close October with 98 active reduction cells online.
Dr. Sambian emphasized the commercial impact of supplying both domestic and international buyers. VALCO is no longer merely an exporter of primary metal, but is now supplying high-grade electrical rods to power Ghana’s domestic infrastructure while fulfilling export orders for European markets. This strategy strengthens foreign exchange earnings and underpins financial recovery.
Key points
- VALCO reports $1.4m EBITDA profit for January-September 2026.
- The company's revenue grew 13% to $103.85m.
- VALCO adopted a 1:4:4 shift system to sustain continuous manufacturing.
