Despite a directive from the Minister of Trade and Industry, cement prices in Ghana continue to rise, severely affecting the real estate industry and driving up rent prices in Accra.
Recent checks reveal a significant price hike from last week to this week, leaving many buyers confused and frustrated. In May 2024, cement prices ranged from GH¢85 to GH¢90, depending on the brand and mix. As of June 4, 2024, prices have soared to around GH¢110, according to dealers at Pokuase who spoke to GBC Ghana Online.
Current prices reported by one dealer are: Dzata cement (42R) at GH¢108, Cimaf (42R) at GH¢107, Cimaf (32R) at GH¢87, and Ghacem (42R) leading the market at GH¢110. Other sources report Diamond cement prices at GH¢75 and GH¢85, while Dangote ranges between GH¢92 and GH¢94.
Minister of Trade and Industry, Kobina Tahir Hammond, recently called for an immediate reversal of these price hikes to alleviate the financial burden on Ghanaians. However, this directive appears to have been ignored, possibly due to underlying causes that have not been addressed.
In a statement dated May 15, the Ministry urged the Cement Manufacturing Development Committee (CMDC) to enforce the price reversal and ensure uniform cement prices nationwide. The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is tasked with regulating cement manufacture and promoting its wholesale and retail.
The Committee’s membership includes 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.
