In the midst of a heated debate over a proposed legislative instrument by Ghana’s Trade and Industry Minister, K.T. Hammond, aimed at regulating cement prices, manufacturers have announced plans to raise prices.
Dr. Stephen Debrah-Ablormeti, former Vice Chair of the Ghana Real Estate Developers Association, revealed that cement prices, which increased by GH₵10.00 in May, will rise by an additional GH₵12.00 effective July 1.
He stated, “As of this morning, we received a message from cement manufacturers that prices will increase by 12 cedis starting July 1.”
Dr. Debrah-Ablormeti emphasized that cement constitutes about 70% of building materials, so any price increase affects the costs of blocks, concrete, and plastering materials. He noted, “You start a project in January, and by December, costs could rise by 30-45%.”
He also mentioned that iron rod prices have increased by 28% over the last two months. “Managing costs as developers is becoming increasingly challenging. We support the Minister’s initiative, hoping for fair competition in the market,” he said.
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