Bridget Otoo raises alarm on surging cement prices

Ghanaian businesswoman and prominent media personality, Bridget Otoo, recently took to social media to address the alarming surge in the cost of cement across the country.

Otoo noted that the price of a bag of cement has skyrocketed to GHC104, marking a significant increase from its previous price of ¢95.00 at the beginning of the year. This spike in price

Read full article.has particularly impacted regions such as Accra and Tema.

In her post, Otoo delved into the factors contributing to this sharp rise in cement prices. She pointed out that even the lower-quality Chinese cement brands are now being sold at GHC87 per bag. Moreover, when factoring in transportation costs, which typically range between GHC3-4 per bag, the overall expense for consumers becomes even higher.

Otoo's analysis shed light on the complexities within the cement industry and the challenges faced by both producers and consumers alike.

Adding to the discourse, Trade Minister K.T. Hammond expressed his dismay over the escalating costs of this essential building material. He emphasized the need for the industry to recognize the broader implications of such price hikes and urged for measures to be implemented to address the situation. Hammond stressed the importance of closely monitoring and regulating the recommended ex-factory price margins of cement distributors and retailers across the nation.

To tackle the issue and stabilize prices, key stakeholders within the industry have agreed upon several measures. These include individual companies publishing recommended distribution and retail prices for various grades of cement products within their respective distribution zones. Additionally, efforts are being made to ensure transparency and fairness in pricing mechanisms to alleviate the burden on consumers and promote market stability.

Despite these initiatives, concerns remain high regarding the affordability and accessibility of cement, a crucial component in construction projects nationwide.