Cement Prices Continue to Rise in Ghana Despite New Regulation

Accra, Ghana - Nov 22, 2024 - Ghana's real estate sector is expressing frustration over the government's new Legislative Instrument (L.I.) aimed at regulating cement prices. Despite the regulation's passage into law on September 5, 2024, stakeholders claim that cement prices have continued to rise, rendering the law ineffective.

The L.I. was initially designed to require cement manufacturers to seek government approval before setting prices. However, this provision was later removed due to opposition from manufacturers and the public. The Ministry of Trade and Industry assured Ghanaians that the legislation would reduce cement prices nationwide.

However, the Ghana Real Estate Developers Association (GREDA) has voiced its dissatisfaction with the law's implementation.

At the launch of the Diaspora Property Expo 2025 on Nov 21, Samuel Amegayibor, Executive Secretary of GREDA, stated that since the L.I. was passed, cement prices have continued to escalate, with no noticeable difference in the market.

“Since the LI on cement was passed, so far as we the users of cement are concerned, we haven’t seen anything different. Prices have gone up even from the day it was launched, it has gone up further.

“So far as we’re concerned and with our earlier interactions with the manufacturers, nothing is happening, it’s as if no LI has been passed at all. We’re just doing business as usual, maybe it will take effect from a specific date the minister intends to announce, but we are not sure.

“We thought that so far as his last statement was made, the assumption is that it will take effect immediately. So far we’re concerned with the manufacturers, wholesalers and dealers, they have some responsibility per the LI.”

Source: Florence Kyei / Lead News Online