Cement prices fall by 20% as economic conditions improve – Mahama

John Dramani Mahama has announced that cement prices in Ghana have declined by about 20 percent, attributing the reduction to improved macroeconomic stability and sustained engagement between government and industry stakeholders.

The President made the remarks while commissioning the world’s largest calcined clay plant at the Tema Free Zones Enclave. He noted that the cement industry has received considerable policy attention over the past year due to its critical role in construction, housing, and infrastructure development.

According to President Mahama, cement prices had risen significantly by the end of 2024, reaching about GH¢120 per bag for 42.5 grade cement and GH¢113 per bag for 32.5 grade cement. He said the increases placed considerable pressure on builders, contractors, and the housing sector.

He explained that recent economic improvements and collaboration with industry players have helped stabilise the market, resulting in a notable drop in cement prices.

The President also commended the Minister for Trade, Agribusiness and Industry and the Chief Executive Officer of the Ghana Free Zones Authority, highlighting that Ghana’s current industrial growth is being supported by strong female leadership in key positions.

He further congratulated the management of CBI Ghana for completing the major industrial project and praised the company’s Managing Director for continuing the vision initiated by his late father, who first conceived the project.

President Mahama used the occasion to encourage Ghanaian entrepreneurs to prioritise succession planning, warning that many businesses collapse after the death of their founders due to the absence of clear leadership transition plans.