Leading cement manufacturers in Ghana, including the industry giant GHACEM, have implemented price hikes for 50kg bags effective August 30, 2022.
This adjustment reflects the growing economic pressure on producers who are struggling to maintain operations amidst a volatile macroeconomic environment.
GHACEM New Price List (Distributors)
The updated wholesale prices for GHACEM’s various product lines are as follows:
| Product Grade | New Price (per 50kg bag) |
| Super Rapid (32.5R) | GH¢ 64.59 |
| Super Strong (42.5R) | GH¢ 68.00 |
| GHACEM Extra (42.5N) | GH¢ 72.91 |
Primary Drivers of the Price Hike
Manufacturers cite two main factors forcing their hand:
- Cedi Depreciation: Most raw materials (such as clinker and gypsum) are imported. In June 2022, prices were pegged to an exchange rate of GH¢ 7.60, but by late August, the rate had surged past GH¢ 9.00, significantly increasing import costs.
- Operational Costs: Rising fuel prices and electricity tariffs have increased the cost of production and regional distribution.
Impact on the Housing Market
This is the second price increase in less than three months, and its ripple effects are expected to be felt across the construction sector. Industry experts warn that the hike will lead to:
- Increased Project Costs: Ongoing public and private infrastructure projects will require budget revisions.
- Housing Affordability: The cost of new homes is likely to rise in the short term, further straining the budgets of individual builders.
Manufacturers continue to appeal to the government to review port taxes and levies on imported raw materials to help stabilize prices and support the construction industry.
