Despite the ministerial directive to the Cement Manufacturing Development Committee in Ghana, cement prices continue to rise, causing significant disruption in the real estate industry and driving rents in Accra to unprecedented levels.
According to GBC Ghana Online, there has been a noticeable increase in cement prices from last week to this week, leaving many buyers puzzled.
In May 2024, cement prices ranged from GH¢85 to GH¢90, depending on the brand and mix ratio. However, as of June 4, 2024, prices have surged to approximately GH¢110, according to dealers in Pokuase.
One dealer reported that Dzata cement (42R) is now priced at GH¢108, Cimaf (42R) at GH¢107, Cimaf (32R) at GH¢87, and Ghacem leads the market with Ghacem (42R) at GH¢110.
Further inquiries revealed that Diamond cement is selling between GH¢75 and GH¢85, while Dangote cement is priced between GH¢92 and GH¢94.
Less than a month ago, Minister of Trade and Industry Kobina Tahir Hammond called for an immediate reversal of recent cement price hikes to alleviate the burden on Ghanaians.
However, it appears this directive has been ignored, possibly due to the underlying causes of the price increases being overlooked.
In a statement released on Tuesday, May 15, the Ministry instructed the Cement Manufacturing Development Committee (CMDC) to enforce the directive without exception.
The statement reiterated the Minister’s demand for the Committee to collaborate with cement companies to ensure uniform pricing nationwide.
The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), regulates cement manufacturing in the country.
It is tasked with promoting the manufacturing, wholesale, and retail of cement and its components.
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, and the Ministry of Environment, Science, Technology and Innovation.