Despite the concerted efforts of the Ministry of Trade and Industry to rein in escalating cement prices through directives to the Cement Manufacturing Development Committee in Ghana (CMDCG), the relentless surge persists, unsettling the real estate landscape and propelling rent prices in Accra to unprecedented levels.
Recent price checks reveal a stark escalation from the preceding week, leaving prospective buyers perplexed and challenged.
In May 2024, the price spectrum for cement fluctuated between GH¢85 to GH¢90, contingent upon the brand and composition. However, as of June 4, 2024, prices have vaulted to approximately GH¢110, as confirmed by dealers engaged by GBC Ghana Online in Pokuase.
Market insights divulged by a dealer expose the current pricing dynamics: Dzata cement (42R) now commands GH¢108, with Cimaf (42R) trailing closely at GH¢107, while Cimaf (32R) stands at GH¢87. Topping the charts, Ghacem (42R) leads at GH¢110.
Additional sources delineate Diamond cement’s price range between GH¢75 and GH¢85, with Dangote cement fluctuating between GH¢92 and GH¢94.
Minister Kobina Tahir Hammond's recent plea for an immediate rollback of these price escalations to alleviate the burden on the Ghanaian populace, unfortunately, appears to have been disregarded, possibly due to underlying factors eluding attention.
In a resolute statement issued on May 15, the Ministry emphatically implored the CMDC to enforce the mandated price reversal rigorously, ensuring parity in cement pricing nationwide.
The CMDC, established under the aegis of the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), bears the onus of regulating the manufacturing and distribution of cement, advocating for equitable pricing mechanisms.
Comprising representatives from cement manufacturers, the Association of Ghana Industries (AGI), the Environmental Protection Agency, the Ghana Institution of Engineers, and pivotal government ministries including the Ministry of Trade and Industry (MoTI) and the Ministry of Environment, Science, Technology and Innovation, the CMDC embodies a collaborative effort to navigate the complexities of Ghana’s cement market