Business News of 2014-07-04

Cement shortage to hit Ghana

Citi Business News has gathered the country may be hit with an acute shortage of cement soon. This is because the third largest supplier of cement in Ghana, Dangote cement has for some weeks suspended its imports to Ghana because of the fast depreciating cedi.

Also, the second largest supplier of cement Diamond Cement is also reported to be facing challenges in importing clinker to manufacture cement in Ghana.

Ghacem is the largest supplier of cement in the country with a market of 58 percent while Diamond cement comes in second at 25 percent with Dangote at 8 percent. The rest of the market share is dominated by importers.

Also an increase in the commodity’s demand due to the country’s growing construction industry is also one of the reasons trigging the imminent shortage. Industry players tell Citi Business News the latest development may also trigger an increase in the price of cement in the coming weeks.

Source: Citifmonline.com
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