Houses, rent to shoot up as cement prices go up

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The management of GHACEM Cement has announced an increase in the price of its products.

The new prices will take effect from Wednesday, 11 December 2019.

A statement signed by the Commercial Director of GHACEM, Nana Phillip Archer, on Monday, 9 December 2019 said 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 11 December 2019.”

This is expected to have an impact on the real estate industry as the price of houses are expected to go up. It would also affect the cost of rent and other services and products in the built environment.

Source: Classfmonline


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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