Despite a recent directive from the Minister of Trade and Industry, cement prices in Ghana continue to rise, causing turmoil in the real estate sector and driving up rent prices in Accra.
Recent price checks reveal a significant increase in cement prices from last week to this week, leaving many consumers surprised. In May 2024, cement prices ranged from GH¢85 to GH¢90 depending on the brand and type. However, by June 4, 2024, prices had skyrocketed to around GH¢110, according to dealers in Pokuase.
One dealer shared the current prices: Dzata cement (42R) is now priced at GH¢108, Cimaf (42R) at GH¢107, Cimaf (32R) at GH¢87, and Ghacem (42R) leading the market at GH¢110. Other sources also report Diamond cement priced between GH¢75 and GH¢85, while Dangote ranges from GH¢92 to GH¢94.
The Minister of Trade and Industry, Kobina Tahir Hammond, recently called for an immediate reversal of these price hikes to ease the burden on Ghanaians. However, it seems that this directive has been ignored, possibly due to overlooked root causes of the price increases.
In a statement issued on May 15, the Ministry urged the Cement Manufacturing Development Committee (CMDC) to enforce the reversal of prices and ensure uniformity in cement prices nationwide. The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is tasked with regulating cement manufacturing and promoting wholesale and retail distribution.
The Committee consists of representatives from cement manufacturers, the Association of Ghana Industries (AGI), the Environmental Protection Agency, the Ghana Institution of Engineers, the Ministry of Trade and Industry (MoTI), and the Ministry of Environment, Science, Technology, and Innovation.
The continued increase in cement prices despite the Minister’s directive highlights the need for swift action to address the root causes of the price hikes and ensure fair pricing for consumers across the country.
