The Industrial and Commercial Workers' Union (ICU), Ghana, has appealed to President John Dramani Mahama to recapitalise and revive distressed state-owned enterprises, arguing that doing so would create thousands of jobs for unemployed youth and accelerate the country's industrialisation agenda.

The appeal was contained in a resolution adopted at the union's 65th Regular National Executive Council (NEC) meeting held on July 31, 2026.

The union said delegates from all 16 regions expressed concern over the growing number of unemployed graduates, many of whom have remained without jobs for between five and 10 years despite completing university, tertiary or skills training programmes.

According to the ICU, reviving strategic but struggling state-owned enterprises would provide sustainable employment while strengthening local manufacturing and reducing Ghana's reliance on imports.

ICU opposes proposed VALCO sale

Among the union's key requests was a renewed appeal for government to halt plans to offload a 70 per cent equity stake in the Volta Aluminium Company Limited (VALCO) to a private investor.

The ICU recalled that it had previously organised a peaceful demonstration and presented a petition opposing the proposed transaction.

"Knowing Your Excellency as a listening President who places premium value on the indigenisation and strategic ownership of key national assets, we respectfully urge you to give favourable consideration to our appeal and ensure that VALCO retains its proud status as a strategic national asset for the benefit of present and future generations of Ghanaians," the resolution stated.

The union also commended President Mahama for responding to its earlier appeal to intervene in the affairs of PBC PLC.

It expressed appreciation for steps taken through the Ministry of Labour, Jobs and Employment to revitalise the company and urged government to expedite efforts to restore its full operations.

Beyond VALCO and PBC, the ICU identified several state-owned enterprises it believes require urgent recapitalisation and operational support.

These include Aluworks Limited, whose operations have remained largely dormant since workers were sent home in June 2022; Neoplan Ghana Limited, whose idle manufacturing plant has left skilled workers unemployed despite Ghana's continued importation of buses; Akosombo Industrial Company Limited (AICL), which the union said has declined as imported textiles dominate the local market; and Volta Star Textiles Limited, which it said should be revived to support local textile production and reduce imports.

The union noted that President Mahama had already announced plans to revitalise Volta Star Textiles during his recent Resetting Ghana tour.

According to the ICU, reviving these enterprises would restore industrial production, create sustainable jobs, conserve foreign exchange and strengthen Ghana's manufacturing sector.

The union argued that government intervention is urgently needed to prevent further deterioration of strategic national assets while thousands of young Ghanaians remain unemployed.

"We therefore respectfully appeal to Your Excellency to use the full authority of your high office to facilitate the recapitalisation, revitalisation, and sustainable operation of these enterprises," the resolution stated.

It added that restoring the companies would not only generate meaningful employment but also promote industrialisation, enhance local production and contribute significantly to Ghana's socio-economic transformation.

The resolution was signed by ICU General Secretary Morgan Ayawine and National Chairman Noble Al-Haji Nuru-Deen Al-Hassan on behalf of the union's National Executive Council.