Workers at Akosombo Industrial Company Limited (AICL) report deepening financial hardship. This comes as government approval for a prospective investor takeover faces prolonged delays. The hold-up directly impacts hundreds of current and retired workers awaiting unpaid salaries and benefits.
Union leaders express significant frustration over the slow progress. A Hong Kong-based investor's deal with AICL has stalled. This deal would inject capital into the struggling company. Negotiations began in December 2025 and were expected to finish by February 2026. However, no agreement has been reached several months later.
AICL, formerly Akosombo Textiles Limited (ATL), was once a key textile manufacturer. It employed over 3,500 people at its peak. Today, employee numbers have fallen to just over 400. The company struggles to meet local demand. Its export markets have also significantly declined. The prolonged absence of AICL's ABC Wax products from African markets benefits VLISCO.
Joseph Kudjoe Botwe, Local Union Executive Secretary, confirms workers are owed about ten months' salary. Bonuses have gone unpaid for nearly four years. This financial distress has caused severe challenges for families. It affects their ability to afford basic needs and healthcare. Approximately 50 workers have died due to the prolonged hardships.
Union leaders attribute the company's decline to poor management and insufficient investment. These factors eroded production capacity and competitiveness over time. The union insists new investors should not bear existing liabilities. They say these debts must remain the responsibility of current management.
The union urges the Ministry of Trade, Agribusiness, and Industry to finalize negotiations quickly. Swift approval would allow for recapitalization and operational restructuring. This is crucial for reviving Ghana's only remaining Real Wax fabric producer. Without it, workers' economic conditions continue to decline.
The government's decision on this investment is critical for Ghana's industrial sector. It affects the livelihoods of many families. It also determines the future of a legacy company. Watch for how quickly the Ministry addresses these pressing concerns.