Cement prices in Ghana are expected to rise sharply, with retailers adding approximately GHC 9 per bag starting Thursday, February 27th. Some retailers have already implemented the new rates, with prices expected to reach GHC 120.00 per bag.
The price hike is attributed to the government’s increase in port tariffs, which has affected the cost of imported materials used in cement production. Samuel Azu, a cement retailer, explained that the increase is essential for retailers to restock, as the cost of imported materials has risen significantly.
“Since most materials used in cement production are imported, any increase in costs from the source directly impacts the final price.”
The Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene and stabilize the situation, citing the need for stricter regulatory enforcement. The Chamber’s CEO, Emmanuel Cherry, emphasized the government’s role in addressing the issue, stating that they have the power to act.
“This price hike is essential because, without it, we won’t be able to restock. 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 explained that the government has raised port tariffs,” Azu explained.
This price hike is not an isolated incident, as cement prices have been a contentious issue in Ghana. Last year, a standoff occurred between the Cement Manufacturers Association of Ghana and the former Minister of Trade and Industry, K.T. Hammond, over a Legislative Instrument (LI) aimed at regulating prices.
“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.”
It’s worth noting that cement prices in Ghana vary depending on the brand, location, and quantity purchased. Currently, the price of a 50kg bag of cement ranges from GH₵ 45 to GH₵ 100.
