Trade Minister Urges Cement Companies to Reduce Prices as Cedi Gains Strength
Trade Minister urges price cuts from cement producers, citing cedi stability and public concern over rising construction costs.
- Minister urges cement firms to reduce prices in line with cedi gains
- GSA to intensify inspections from August to enforce product standards
- Cement producers signal possible price cuts if economic trend holds
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has called on cement manufacturers in Ghana to lower their prices to reflect the recent strengthening of the cedi against major foreign currencies.
Speaking during a meeting with the Chamber of Cement Manufacturers, Ghana (COCMAG), the Minister addressed rising public frustration over high cement costs, which remain unchanged despite improved macroeconomic conditions.
Key issues discussed included pricing structures, product standardisation, and adherence to regulatory requirements. Minister Ofosu-Adjare stressed that consumers should benefit directly from the cedi’s gains and urged manufacturers to align their prices accordingly.
She also revealed that starting in August, the Ghana Standards Authority (GSA) will step up its quarterly inspections to enforce national product standards. She cautioned that any manufacturer found in breach of regulations risks closure.
Representatives from major cement companies—Ghacem, CIMAF, CBI, Dangote, Dzata, Empire, and Diamond Cement—attended the meeting and responded positively to the Minister’s call. They acknowledged the cedi’s recent stability and indicated that a price reduction could be possible if the current trend continues.
The manufacturers also reiterated their commitment to maintaining quality and fairness through adherence to standardisation protocols.
