As the cost of cement continues to rise in Ghana, sellers have attributed the hike to the depreciation of the local currency.
In an interview with GhanaWeb's Ernestina Serwaa Asante on Monday, July 8, 2024, the sellers lamented that the increase was having dire consequences on their businesses.
Most of the sellers said business was slow in recent times due to customers' inability to make purchases.
One of the interviewees said, "These goods are from last week and are yet to be sold because customers cannot afford to buy a bag of cement. No one has made a purchase since morning and we are still seated here."
"In the past, we could sell more than 1,000 bags in a week, but now there is a decline in sales. We come to work, play draughts, spar, and other games because of the low sales recorded in a day," he added.
Meanwhile, Minister of Trade and Industry, Kobina Tahir Hammond, has presented a proposed Legislative Instrument to parliament, dubbed the Ghana Standard Authority Pricing of Cement Regulation 2024.
He asserted that this regulation will protect Ghanaians from being shortchanged in buying cement.
However, the sellers were divided on the Minister of Trade and Industry's decision to introduce a Legislative Instrument to regulate cement prices on the market.
"The Trade Minister's proposal of an L.I to regulate cement prices will not work out. Cement has become expensive. In 2016, cement was selling between GH¢25 and GH¢30, but currently, the price has skyrocketed to GH¢110. We can't even rent because landlords say the price of building materials has become expensive," an interviewee told GhanaWeb's Ernestina Serwaa Asante.
The Chamber of Cement Manufacturers, on the other hand, opined that the L.I. could compromise fairness.
Meanwhile, cement is selling from GH¢90 and above based on the brand.
The cement prices, which had already risen by GH¢10.00 in May, are set to increase by an additional GH¢12.00.
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