Cement Prices in Ghana Rise Due to Cedi Depreciation, Say Producers

by Louisa Afful
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The Cement Manufacturers Association of Ghana (CMAG) has attributed the increasing prices of cement in Ghana to the depreciation of the Cedi. Speaking on TV3’s Key Points on Saturday, June 29, CMAG’s Executive Secretary, Rev. Dr. George Dawson-Ahmoah, highlighted that the rapid fall of the local currency has significantly impacted their operations, especially since clinker, a major component of cement production, is imported.

“The depreciation of the Cedi has a major impact on cement pricing. Although there are other factors involved, this is currently our primary concern, prompting the Minister to urgently propose price regulations in parliament,” he stated, questioning why such actions were not taken earlier.

Rev. Dr. Dawson-Ahmoah emphasized to Trade Minister K T Hammond that the rising cement prices are directly linked to the Cedi’s decline against the Dollar. He also expressed CMAG’s stance that they do not require a Legislative Instrument (L.I.) to regulate prices and highlighted their lack of consultation on the proposed L.I.

“Why is the Minister avoiding discussions with us? We believe that cement price increases are not arbitrary decisions but are influenced by various factors,” he added.

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