ICU Ghana urges state investment to drive industrial growth and create Jobs

The Industrial and Commercial Workers’ Union (ICU Ghana) has called on the government to invest in struggling state-owned enterprises, including the Volta Aluminium Company (VALCO), PBC Limited and the Cocoa Processing Company, to boost local production, drive industrial growth and create jobs for the country’s growing youth population.

The union said renewed investment in these enterprises, alongside the textile industry, would expand industrial capacity and help restore the fortunes of companies grappling with operational and financial challenges.

General Secretary of ICU Ghana, Morgan Ayawine, emphasised the need for the government to retain and recapitalise VALCO rather than sell the state-owned company, describing such enterprises as critical to Ghana’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.

Mr Ayawine also highlighted the difficulties facing PBC Limited and the Cocoa Processing Company, urging the government to step up efforts to restore their operations and strengthen their contribution to the economy.

“We have other enterprises such as 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 among the 100 most influential trade unionists in Africa in recognition of his leadership and advocacy in trade unionism, corporate governance and government policy direction.

According to the organisers, his selection reflected his efforts to promote socioeconomic development, business growth and industrial advancement.

Reacting to the recognition, Mr Ayawine attributed the award to the collective support of ICU Ghana’s leadership, management, staff and rank-and-file members, as well as its social partners.

He expressed gratitude to all those who had supported his work and reaffirmed his commitment to continued collaboration in advancing shared objectives and mutual interests.

Source: Sekunde FM