Our trusted sources confirm that from next week, the price of a 50-kilo bag of cement is expected to rise from 45 Ghana cedis to 55 Ghana cedis.
Outside of Accra, a bag of cement could cost $60. According to sources, the increase is due to the weakening value of the Ghana cedi, recent increases in transportation charges, and the Russian-Ukraine war, which has disrupted logistics and the transport of some raw materials from abroad for local manufacture.
In the short term, the development may have an influence on housing prices and the personal budgets of many people who are now building homes in the country.
Manufacturers have recently lobbied for the government to reconsider input taxes and port fees. They had hoped that would help the situation, particularly last year.
However, the administration did not pay attention to this.
These producers thought that by waiving some of these fees at the ports, the recent price increases would be reduced.