Retailers in Ghana intend to raise cement prices by about GHC 9 per bag beginning Thursday, February 27, causing a significant spike in pricing.
The new pricing has already been applied by a few merchants.
Cement vendor Samuel Azu attested to the price increase, saying , “We have not yet increased the price, but this will take effect starting Thursday. From then on, any customer purchasing a bag of cement will need to pay GHC 120.00.”
He explained that the adjustment was necessary to sustain their business. “If you don’t have that amount, you won’t be able to buy cement in Tema or anywhere else in the country. The factories have attributed the increase to rising port tariffs imposed by the government,” Azu added.
He further highlighted the reliance on imported materials, noting, “Since most materials used in cement production are imported, any increase in costs from the source directly impacts the final price.”
The government should step in now before things get worse, according to the Ghana Chamber of Construction Industry (GhCCI).
The Ghana Chamber of Construction Industry (GhCCI), meantime, has called on the government to step in before things get worse.
Emmanuel Cherry, the CEO of the Chamber, underlined the government’s obligation to solve the issue.
“The best person to assist us is the government, as they are the ones with the power. The mandate lies with them. We can only talk or advise, but it is their decision to act or not.”
Last year, a dispute over a Legislative Instrument (LI) intended to regulate cement prices resulted in a standoff between the Cement Manufacturers Association of Ghana and former Minister of Trade and Industry K.T. Hammond.
Stakeholders in the supply chain responded differently to the previous minister’s effort.
As the year goes on, cement costs keep going up, and retailers blame increasing port duties for the majority of the increases.
