The Ghana Chamber of Construction Industry is urging stakeholders to engage in discussions to address the recent surge in cement prices. This appeal comes after a GHC9 increase in the price of a bag of cement, a development the Chamber warns will negatively impact construction operations across the country.
Rising Cement Prices: A Threat to the Construction Industry
The sudden price hike has raised concerns among industry players, who fear it could lead to increased costs for construction projects, delays, and even job losses. Emmanuel Cherry, Chief Executive Officer of the Ghana Chamber of Construction Industry, emphasized the need for immediate stakeholder engagement to find sustainable solutions.
Speaking to Citi News, Cherry highlighted the government’s previous promises to stabilize the economy and reduce the cost of goods and services. He called for these promises to be revisited and implemented to alleviate the burden on businesses and consumers.
“Government through H.E John Dramani Mahama promised that he’s going to make sure that the cedi to the dollar or the cedi to major foreign currencies is stabilized. He promised that at the port of clearing, he’s going to make sure that there are other flat rates or what have you to make sure that importers and exporters will have a ground to at least make an event to ensure that prices of goods and services are a bit affordable for everybody. The government has already made those promises; all we need to do now is let stakeholders engage the government and interrogate those particular promises one after the other. Bring the technical expertise to support the politician to adjudicate the needs of the masses to make sure the right thing is being done to alleviate the sufferings of the masses,” Cherry stated.
Government’s Response to the Crisis
In response to the growing concerns, the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has assured stakeholders that her ministry will engage cement manufacturers to explore solutions to the rising cost of cement. This move is expected to address the root causes of the price hike, which may include currency fluctuations, import duties, and production challenges.
Call to Action
The Ghana Chamber of Construction Industry is calling on all stakeholders, including government agencies, cement manufacturers, and industry players, to come together and find lasting solutions to this pressing issue.