Cement prices set to rise by GH¢9 per bag

Retailers across Ghana are preparing to increase cement prices by approximately GH¢9 per bag, with the new rates set to take effect on Thursday, February 27. Some vendors have already adjusted their prices, pushing the cost of a bag of cement to GH¢120.

Samuel Azu, a cement retailer, confirmed the upcoming price hike, attributing it to rising costs from suppliers. “We have not yet increased the price, but this will take effect starting Thursday. From then on, any customer purchasing a bag of cement will need to pay GH¢120.00,” he said.

Azu explained that the increase is necessary for retailers to restock, as suppliers have raised their prices due to higher port tariffs. “If you don’t have that amount, you won’t be able to buy cement in Tema or anywhere else in the country. The factories have explained that the government has raised port tariffs,” he added.

Another retailer, Bismark Owusu Tetteh, expressed frustration over frequent price fluctuations, calling for stricter regulation of the industry to prevent instability.

Meanwhile, the Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene before the situation worsens. The Chamber’s CEO, Emmanuel Cherry, stressed the government’s responsibility in addressing the crisis.

“The best person to assist us is the government, as they are the ones with the power. The mandate lies with them. We can only talk or advise, but it is their decision to act or not,” he stated.

Cement pricing has been a contentious issue in Ghana, with last year’s attempt by former Trade and Industry Minister K.T. Hammond to regulate prices through a Legislative Instrument (LI) sparking debate among industry stakeholders.