Ghana’s construction industry faces renewed challenges as cement prices are set to rise sharply, with retailers planning an increase of approximately GHC 9 per bag starting Thursday, February 27th. The hike is expected to push the price per bag to GHC 120.00, a move retailers say is necessary to keep up with increasing import costs and port tariffs.
Industry players warn that the rising prices could have far-reaching consequences for construction projects across the country. Samuel Azu, a cement retailer, confirmed the upcoming increase, emphasizing the difficulty of maintaining stock under current market conditions.
“If we don’t adjust the prices, we won’t be able to restock. The factories have made it clear that government-imposed port tariffs are driving up costs,” Azu explained.
Another retailer, Bismark Owusu Tetteh, voiced frustration over the persistent price volatility, calling for stronger regulatory oversight to stabilize the market.
The Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene before the situation worsens, warning that continuous price hikes could slow infrastructure development and increase the cost of housing.
“The government has the power to address this. We can only raise concerns, but ultimately, action is in their hands,” said GhCCI CEO Emmanuel Cherry.
The latest increase comes amid ongoing debates over cement pricing regulations. Last year, an attempt by former Trade and Industry Minister K.T. Hammond to introduce a Legislative Instrument (LI) for price control faced resistance from manufacturers.
With the cost of raw materials and import duties continuing to climb, stakeholders fear that unchecked price fluctuations could make construction increasingly unaffordable for both developers and individuals looking to build homes.
As Ghana navigates another year of rising building costs, industry leaders are calling for urgent policy measures to ensure stability in the construction sector.
