Individuals and real estate companies would have to adjust project budgets as cement prices go up. With effect from Wednesday, 11 December 2019, Ghacem’s cement would go for higher prices. Though it is not exactly clear by how much the prices will go up. GHACEM has announced a price increase for the three products namely the Super Rapid, Super Strong and Ghacem Extra.
In a signed statement by the Commercial Director, GHACEM explained that the necessary price increase is due to, among other things, the depreciation of the Cedi against major trading currencies.
The effect of the weakening Cedi is biting again at a crucial aspect of the economy.
Other competitors like Dangote and CEMAF may follow up in due course as they are not absolved from the factors cited by the leading producer.
The cement chamber in Ghana recently spoke of factors including taxes and levies that are pushing down the industry