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The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG), have reached an agreement to address the rising cost of cement in the country. 

The agreement was made during a consultative meeting between the Ministry, COCMAG, and other industry players in Accra last Wednesday.

Statement
A statement from the MoTI said the sector Minister, K.T. Hammond, expressed concern about the increasing retail price of cement and its negative impact on the economy.

“The minister wondered how a bag of cement could be selling at GH¢95 in some parts of the country, even around the Accra/Tema municipalities,” it stated.

As a result, it said specific measures had been agreed upon for immediate implementation to address the pricing concerns. 

The measures, the statement said, included individual companies publishing recommended distribution and retail prices of their products in each distribution zone, enforcing quality standards and weights of cement products to eliminate substandard products, and exploring the possibility of introducing a uniform cement pricing formula to ensure consistency in retail pricing across the country.

The ministry assured the public that those measures, along with any other necessary actions, would be implemented in collaboration with COCMAG to ensure that price adjustments were justifiable and within reasonable limits.