IMANI Africa president Franklin Cudjoe has expressed concern over the escalating cost of materials, specifically highlighting the price of a bag of cement.
In a June 6 post on his X handle, he referred to recent reports indicating that a bag of cement had reached 108 Ghana cedis.
“A bag of cement is now GHS108! The economy is still stupid. Sad thing is the government has no clue about what to do,” he lamented, criticizing the Nana Addo Dankwa Akufo-Addo government for its perceived lack of direction amid these price increases.
Cudjoe also mentioned the rising cost of tomatoes in a related post.
The increase in cement prices has become a hot topic after manufacturers dismissed the trade minister’s advice against raising prices.
A recent GBC Ghana report detailed the price surge, noting that prices from dealers had seen a sharp increase from the previous week, causing confusion among buyers.
In May 2024, cement was priced between GH¢85 and GH¢90 depending on the brand and type, but as of June 4, 2024, prices had jumped to around GH¢110, according to dealers in Pokuase.
One dealer reported that Dzata cement (42R) is now GH¢108, Cimaf (42R) is GH¢107, with its 32R variant priced at GH¢87. Ghacem is leading the market with its 42R variant at GH¢110.
Further checks indicated that Diamond cement is sold at GH¢75 and GH¢85, while Dangote cement is priced between GH¢92 and GH¢94.
Less than a month ago, Trade and Industry Minister Kobina Tahir Hammond called for the immediate reversal of the recent cement price hikes to alleviate pressure on Ghanaians. However, it seems his advice has been ignored, or the Minister may not have addressed the root causes of the price increases.
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