Regulators threaten sanctions as price transparency remains elusive
Despite clear legal mandates and multiple warnings, cement manufacturers in Ghana have failed to declare their ex-factory prices by the May 23, 2025 deadline set by the Cement Manufacturing Development Committee (CMDC).
This non-compliance has heightened concerns about possible price manipulation and a lack of transparency in the cement industry.
Crucial Price Declaration Still Pending
The CMDC, empowered under the Ghana Standards Authority (Pricing of Cement) Regulations, 2024 (L.I. 2491), requires monthly reporting of ex-factory prices for standard 50kg bags of cement (grades 32.5R (BL) and 42.5R (BL)).
The committee’s role is to scrutinize the manufacturers’ pricing structures to ensure that no hidden costs or unjustified tariffs are passed on to consumers.
However, as of May 26, 2025, none of the manufacturers had submitted their price declarations. This has led to mounting suspicions that the delay could be a strategic move to sustain high prices despite favorable economic conditions.
Consumer Outrage Over Stagnant Prices
The public and industry stakeholders have voiced frustration as cement prices remain stubbornly high despite a notable appreciation of the Ghana Cedi against the US dollar — a development that would typically reduce import and production costs.
“If the dollar is falling and fuel prices have even dropped slightly, why are cement prices still so high? The manufacturers must explain,” said Paapa Abu Sarpong, a contractor based in Aburi.
The continued high cost of cement is a critical issue given its role as a foundational material in construction and infrastructure development.
Regulatory Response and Possible Sanctions
Professor Alex Dodoo, Chairman of the CMDC, announced that the committee will hold an emergency meeting to determine appropriate sanctions for the non-compliant manufacturers. He emphasized that the law is unambiguous and that penalties will be enforced to uphold consumer interests.
The committee’s authority to impose fines and other punitive measures is granted by L.I. 2491, though the exact nature of these sanctions has yet to be disclosed publicly.
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Industry Silence and Speculation
Efforts to obtain comments from major cement producers, including Dangote Cement, Ghacem, and CIMAF, as well as the Chamber of Cement Manufacturers, were unsuccessful.
Economic analysts speculate that manufacturers may be withholding price adjustments to maximize profits or recover losses from previous periods when the Cedi was weaker.
Safeguarding Quality and Consumer Interests
In a related development, the Ghana Standards Authority (GSA) implemented the Manufacture of Cement Regulation, 2023 (L.I. 2480), which came into effect on December 22, 2023. This legislation mandates licensing for all cement producers and enforces strict quality and safety standards to protect consumers and improve industry practices.
The combined regulatory framework aims to bring accountability and transparency to Ghana’s cement industry, but manufacturers’ continued resistance to price declarations poses a challenge to these efforts.
