Cedi Gains Strength: Trade Minister Calls for Cement Price Reduction
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has urged cement manufacturers in Ghana to reduce their prices in line with the recent strengthening of the cedi against major foreign currencies.
The Minister made this call during a meeting with the Chamber of Cement Manufacturers, Ghana (COCMAG), citing rising public frustration over high cement costs.
The meeting discussed pricing structures, product standardization, and adherence to regulatory requirements. Minister Ofosu-Adjare emphasized that consumers should benefit directly from the cedi’s gains and urged manufacturers to align their prices accordingly.
The Minister also announced that the Ghana Standards Authority (GSA) will step up its quarterly inspections starting in August to enforce national product standards. Manufacturers found in breach of regulations risk closure.
Representatives from major cement companies, including Ghacem, CIMAF, CBI, Dangote, Dzata, Empire, and Diamond Cement, attended the meeting and responded positively to the Minister’s call.
They indicated that a price reduction could be possible if the current trend continues, while reiterating their commitment to maintaining quality and fairness through adherence to standardization protocols.
