Editorial: Consumers demand transparency in cement pricing

Secretary-Ghana Real Estate Developers Association (GREDA) Samuel Amegayibor has expressed concern over the country’s cement producers’ reluctance to reduce prices.

His concern is particularly heightened due to sustained cedi appreciation on the foreign exchange market since mid-2025.

The continuing high prices are putting pressure on developers and prospective homeowners, as the cost of construction remains elevated despite improved currency stability.

Mr. Amegayibor said a chunk of this high cost is passed down to customers, impacting home ownership and sending rent prices through the roof.

Therefore, it would not be far-fetched to conclude that the ever-widening housing deficit is largely attributable to high cost of building materials.

The country’s housing deficit is hovering at around 2 million residential units, the sub-region’s highest. High cost of cement is a major factor contributing to homelessness and spiralling slums predominantly made of wooden structures in urban areas, endangering lives and property.

As prices continue to soar, projects take much longer to complete and costs are significantly more; ultimately affecting the number of houses that can be finished and made available for occupancy.

According to the Ghana Statistical Service (GSS) Statsbank, in 2023 there were 11,984 uncompleted buildings at the lintel level with improvised roofs; 21,571 buildings at roofing level with improvised roofs; 104,632 buildings partially roofed and 710,649 roofed but uncompleted buildings across the country .

While since mid-2025 the cedi has appreciated against the dollar, prices of building materials -including iron rods, security doors and plumbing materials – have since dropped to reflect the gains.

However, cement prices have remained high and even increased at some point despite these gains. Cement producers continue to shrug aside calls demanding cement prices must be adjusted downward to reflect the gains.

To curb arbitrary, disproportionate and “greed-induced” pricing, a Legislative Instrument (L.I. 2480) was passed on 23 November 2023 to regulate cement production and promote transparency in pricing.

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