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The Minister of Trade, Agribusiness and Industry, Mrs Elizabeth Ofosu-Adjare, has met with cement manufacturers to discuss ways to ensure fair pricing, transparency and strict adherence to quality standards.
The meeting formed part of the ministry’s continuous engagement with industry players to understand their challenges and provide the needed support, while also ensuring that consumers were treated fairly.
Held behind closed doors, the meeting took place yesterday in Accra with representatives of the major manufacturers in attendance.
The minister explained that the engagement was focused on the Legislative Instrument (L.I.) 2491, known as the Ghana Standards Authority (Pricing of Cement) Regulation, 2024 which regulates the cement industry and guides the pricing of cement in the country.
In 2024, the Cement Manufacturing Development Committee and manufacturers reached an agreement for the full implementation of the L.I requiring manufacturers to disclose their ex-factory prices to the committee at the beginning of every month.
The declaration of ex-factory prices is essential for the committee, which is mandated by law to look into the price build-up of manufacturers to ensure there were no hidden costs or unjustified tariffs.
This follows public frustration over static cement prices despite the recent appreciation of the Ghana Cedi against the US dollar, which many expected to lead to commensurate price reductions.
Briefing journalists after a closed door meeting with the manufacturers, Mrs Ofosu-Adjare said prices had been stable following the stabilisation of the exchange rate and improved macroeconomic conditions.
She said currently the price for cement grade 42.5R was sold at an average of GH¢107 instead of the previous price of GH¢118, while the 32.5R sold between GH¢80 and GH¢85 instead of GH¢113.
“The exchange rate has come down. We have a very stable macroeconomic situation in this country, and so the price of cement has been very stable,” she said.
The minister acknowledged challenges faced by manufacturers, including electricity costs, but said the government had urged them to keep prices affordable while ensuring profitability.
Mrs Ofosu-Adjare said the ministry would work closely with manufacturers to educate the public on cement pricing to ensure transparency and fairness.
“We have decided, as a ministry working closely with the cement manufacturers, to explain pricing to the populace because it is not fair that we have a law that consumers don’t know about.
“In 2026, the ministry is going to take leadership and explain how prices are done so that we know that what we get is fair,” she said.
She added that any future price adjustments would be discussed with the ministry, with manufacturers required to provide justification in line with the law.
On product quality, the minister said the ministry would continue to work with the GSA to enforce standards to ensure that consumers received exactly what they paid for.
She thanked the manufacturers for their openness and willingness to provide quality cement at fair prices, and assured the public that the ministry would continue to provide authentic information on industry developments.
For his part, the Chief Executive Officer of the Chamber of Cement Manufacturers, Bishop Dr George Dawson-Amoah, stated that manufacturers had not increased cement prices.
However, he said pricing was influenced by several factors beyond the exchange rate, including electricity tariffs, staff salaries and other operational costs.
Dr Dawson-Amoah expressed gratitude to the ministry for its guidance on compliance with legal requirements, and said manufacturers had also put in place self-regulatory measures to ensure internal discipline.
He pledged the chamber’s continued cooperation to ensure a thriving cement industry in the country, and expressed their commitment to maintaining stable prices.
