CEMENT PRICES

Cement Prices Won’t Be Capped, New LI To Ensure Fairness – KT Hammond
06 Sep

Cement Prices Won’t Be Capped, New LI To Ensure Fairness – KT Hammond

wontumionlineBusiness,
The Minister for Trade and Industry, K.T. Hammond, has clarified that the government does not intend to cap cement prices in the near future. His statement follows the implementation of the controversial Legislative Instrument (LI) on cement pricing, which took effect after the mandatory 21-day maturity period. The Trade Minister explained that, the new regulations are designed to promote fair pricing of cement across Ghana. “I am clear beyond argument that there is a certain amount of unfairness in the pricing of cement in the country and I am prepared to make sure that there is some sort of sanity.…
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L.I On Cement Pricing Will Not Hurt Manufacturers – Government
11 Jul

L.I On Cement Pricing Will Not Hurt Manufacturers – Government

wontumionlineBusiness
The Government has challenged claims that the new Legislative Instrument (LI) on cement pricing is anti-business and will hurt manufacturing firms in Ghana. The Government has also explained that the LI will rather encourage full disclosure and transparency in setting prices for cement. The Chairman of the Cement Manufacturing Development Committee and Director General of the Ghana Standards Authority (GSA) Professor Alex Doodo disclosed this on PM EXPRESS BUSINESS Edition with host George Wiafe. “Investors will come to Ghana because the various sectors that they want to operate are better regulated and there is full disclosure on pricing to aid…
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Bill To Regulate Cement Prices Will Be Passed Before Parliament Adjourns – Trade Minister
27 Jun

Bill To Regulate Cement Prices Will Be Passed Before Parliament Adjourns – Trade Minister

wontumionlineBusiness
Trades and Industry Minister, KT Hammond, says he will disregard the Chamber of Cement Manufacturers petition to delay the implementation of a legislative instrument to regulate cement prices. KT Hammond insists that the law is essential to prevent a cartel of manufacturers from exploiting the public. Under the proposed LI, cement manufacturers could face up to three years in jail for violations. Despite opposition from the Minority in Parliament and various interest groups, the Minister remains resolute. Speaking on JoyNews’ PM Express, the minister explained that he has made multiple attempts to engage the manufacturers in good faith, but to…
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Trade Minister Orders Uniform Cement Prices Across Country
13 Mar

Trade Minister Orders Uniform Cement Prices Across Country

wontumionlineBusiness,
Drawing a parallel between the cement and the petroleum retail sectors, where pump prices in the latter are consistent across the country, Mr Hammond emphasised the need for a similar pricing structure in the cement industry to promote price stability and uniformity. He also emphasised the need for retail prices to be reasonably close to factory prices, urging against significant markups. The minister gave the directives in Accra last Friday when he swore in members of the newly established Cement Manufacturing Development Committee, which is now responsible for the regulation of the cement industry. The industry had operated without regulatory…
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Cement Price Increases To ¢73 As Manufacturers Blame Cedi Depreciation
02 Sep

Cement Price Increases To ¢73 As Manufacturers Blame Cedi Depreciation

wontumionlineBusiness,
The price for a 50-kilogramme bag of cement has been increased by manufacturers, effective August 30. Checks by Joy Business revealed that all the major manufacturers have adjusted their prices upward. GHACEM’s new price list  GHACEM’s new price list for its distributors indicated a price of ¢64.59 for a 50-kilogramme bag of cement of Super Rapid. Its Super Strong brand is however selling at ¢68 per bag, while the GHACEM Extra is going for ¢72.91.  Why the increase? Some of the manufacturers say the increase has been influenced by a sudden rise in the cost of operations, from July 2022,…
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09 Aug

Cement Prices To Hit ¢68 Per Bag Due To Cedi Depreciation – Manufacturers

wontumionlineBusiness,
Cement prices are expected to be increased from next week. Joy Business is learning that the wholesale price of a 50 kilogram bag is expected to hit ¢68.00, from the current price of ¢59.00. Why the increase? According to some of the leading manufactures in the country, the action has been influenced by a sudden rise in the cost of operations, from July 2022, due to the sharp depreciation of the cedi over the past month. Officials at one of the manufacturing firms told Joy Business on condition of anonymity that, “when the factory price (whole sale price) of a…
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