Cement Prices Drop By 20% As Construction Inflation Falls – Mahama
President Mahama Attributes 20% Drop in Cement Prices to Macroeconomic Stability and Government-Industry Cooperation
- President Mahama announced that cement prices in Ghana have fallen by about 20% due to improved macroeconomic stability
- Sustained engagement and policy support are credited with stabilizing the cement market, easing costs for builders, contractors, and the housing sector
- The Afienya Export Processing Zone is being developed as Ghana’s first plug-and-play facility to boost industrial growth
President John Dramani Mahama says cement prices in Ghana have dropped by about 20 percent due to improved macroeconomic stability and active engagement between the government and industry players.
Speaking at the commissioning of the world’s largest Calcined Clay plant at the Free Zones Enclave in Tema, President Mahama said the cement industry has received significant policy attention over the past year because of its vital role in construction, housing, and infrastructure development.
He explained that by the end of 2024, cement prices had increased sharply, reaching approximately GH¢120 per bag for 42.5-grade cement and GH¢113 per bag for 32.5-grade cement, putting pressure on builders, contractors, and the housing sector.
President Mahama stressed that sustained cooperation between the government and the private sector will be critical to maintaining stability in the cement market.
Meanwhile, the CEO of the Ghana Free Zones Authority, Dr. Mary Awusi, said the Tema Export Processing Zone is fully occupied, making it necessary to develop a new enclave at Afienya.
She added that the Afienya Export Processing Zone is being developed close to the Tema Port to provide serviced industrial land and support Ghana’s export-led industrial growth.
Dr. Awusi further noted that the Afienya zone will be the first plug-and-play export processing facility in Ghana, offering ready-to-use infrastructure that allows investors to set up and begin operations quickly.
She emphasized that this development will enhance investor confidence, accelerate job creation, and boost exports.
