Cement prices in Ghana increased due to Cedi depreciation

Workers of Ghacem at the factory

Cement manufacturing company in Ghana, GHACEM, has announced an increase in the prices of its products.

The new prices will take effect from Wednesday, 11 December 2019, the company said in a statement on Monday.

Commercial Director for GHACEM, Nana Phillip Archer, said on Monday, that the upward adjustment is due to, among other things, the depreciation of the Cedi against major trading currencies.

“Management wishes to inform customers that our cost of production has increased significantly due to the depreciation of the Ghana cedi against the major international currencies, increased utility tariffs, and fuel and port duties among others.

“In view of this, we are reluctantly compelled to adjust upwards our prices of bagged cement products with effect from Wednesday 11th December 2019.”

See full statement in detail

By Jonathan Ofori, Daily Mail GH

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