Ghana's Builders Feel the Pinch as Cement Prices Surge 15%, Trade Minister Vows Action
Accra, Ghana - 28 Feb, 2025 - A sudden surge in cement prices has prompted Ghana's government to intervene, with the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, vowing to engage with manufacturers to find a solution.
The price hike, which has seen costs rise by approximately GHS9 per bag, has sparked widespread concern among builders, developers, and consumers.
The government is committed to supporting businesses while ensuring fair pricing for consumers, the minister assured. To achieve this, the ministry will meet with leading cement manufacturers to discuss pricing transparency.
“We met them before when I came, some of the leading manufacturers of cement met me. We are going to meet them again and see how we are all going to work together to ensure that the pricing is fair. We want to know what goes into their pricing for us to understand.
“Once we know what goes into their pricing, it will be fair and transparent, and consumers and manufacturers will understand themselves,” she told Citi News.
Meanwhile, the Ghana Real Estate Developers Association (GREDA) is urging industry players to explore alternative building materials to mitigate the impact of the price hikes.
GREDA President Patrick Ebo Bonful described the situation as "sad" and encouraged members to adopt a mix of cement and other building materials to balance costs.
“It is a sad situation. It is not like we have much choice. We are doing our best to encourage our members to do a mix of cement, try and introduce other building materials that can counter such costs.
“If we can use more building materials, combining them with the cement, then it can help to balance it off. This is the only way we can help ourselves.''
Source: Lead News Online
