Despite a directive from the Cement Manufacturing Development Committee in Ghana, cement prices continue to rise, causing chaos in the real estate market and driving rent prices in Accra to new highs.
Recent price checks show a notable increase from last week, leaving many buyers confused.
In May 2024, cement prices ranged from GH¢85 to GH¢90 depending on the brand and mixture. As of June 4, 2024, prices have surged to around GH¢110, according to dealers at Pokuase who spoke to GBC Ghana Online.
One dealer listed the current prices: Dzata cement (42R) is now GH¢108, Cimaf (42R) is GH¢107, Cimaf (32R) is GH¢87, and Ghacem (42R) tops the market at GH¢110.
Other sources report Diamond cement at GH¢75 and GH¢85, while Dangote is priced between GH¢92 and GH¢94.
Minister of Trade and Industry, Kobina Tahir Hammond, recently called for an immediate rollback of these price increases to ease the burden on Ghanaians.
However, this directive seems to have been ignored, possibly due to unaddressed underlying causes of the price hikes.
In a statement dated May 15, the Ministry urged the Cement Manufacturing Development Committee (CMDC) to enforce the price rollback without exception and ensure uniform cement prices across the nation.
The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is tasked with regulating cement production and overseeing its wholesale and retail distribution.
The Committee comprises 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.