GIADEC set to regulate downstream aluminium sector activities to curb cable theft and related issues

The Ghana Integrated Aluminium Development Corporation (GIADEC) is working on new regulations. This agency operates under the Ministry of Lands and Natural Resources. Reindorf Twumasi Ankrah leads GIADEC, with support from Minister Emmanuel Armah-Kofi Buah.

These regulations will cover the downstream aluminium sector. This includes activities like scrap dealing, casting, and fabrication of aluminium products.

GIADEC highlights a growing problem with theft in this sector. Recently, a multi-million-dollar cartel targeting the Electricity Company of Ghana was exposed. This situation reveals vulnerabilities in Ghana's industrial landscape.

GIADEC states that these illegal activities cause significant economic losses. They disrupt infrastructure and threaten public safety. Stolen materials often end up in unregulated smelters, showing the need for oversight.

The initiative to create a legal framework is crucial for national security. It aims to ensure economic stability and sustainable development.

GIADEC plans a multi-pronged approach to regulate the sector. This includes identifying, registering, and certifying all downstream players. A mandatory certificate of origin for aluminium exports and imports will also be implemented.

Creating a comprehensive registry will bring transparency to the sector. It will make it harder for illegally sourced aluminium to enter the supply chain. The certificate of origin will enhance traceability for exported products.

This measure aims to prevent stolen materials from leaving Ghana. It also seeks to improve Ghana’s reputation in the international aluminium market.

Beyond fighting crime, GIADEC wants to standardize the industry. This will lead to better product quality and safety standards.

Unregulated smelters often use harmful techniques that damage the environment. By establishing regulations, GIADEC can enforce better environmental practices.

This aligns with global trends toward responsible resource management in industry.

GIADEC's vision includes socio-economic empowerment as well. They plan youth entrepreneurship training programs focused on responsible sourcing and domestic fabrication of aluminium products.

These initiatives aim to create economic opportunities for young Ghanaians in the aluminium value chain.

The plan is supported by the GIADEC Act (Act 976). This act empowers GIADEC and its Minister to develop effective policies for the industry’s growth.

By implementing these measures, GIADEC hopes to transform the downstream aluminium sector into a sustainable contributor to national development.

Now is the time for decisive action towards this vision.

GIADEC currently owns VALCO after a share transfer agreement with the Government of Ghana. Additionally, they hold all government interests in the Ghana Bauxite Company.