Cement price lowest in sub-region - Ghacem CEO

Cement price lowest in sub-region - Ghacem CEO
Published: 17 December 2009

Morten Gade, Managing Director of Ghacem Limited, and member of the Ghacem Cement Foundation, has pointed out that the market price of cement in Ghana was the lowest in the West Africa sub-region.

He further noted that Ghacem had succeeded in partially substituting imported raw materials with local raw materials, resulting in "24 per cent of the content of every bag of Ghacem Super Rapid being based on local limestone from the company’s quarry in the Eastern Region."

In addition, Ghacem was actively prospecting for limestone of sufficient quality, so as to invest in regional clinker production, as a means of further reducing Ghana’s dependence on the import of expensive raw material.

Mr. Morten Gade made the above observation at a function in Accra at the weekend, during which beneficiary educational and health institutions in the southern sector of the country received allocation letters for 15,000 bags of cement from the Ghacem Cement Foundation.

With the presentation, the Ghacem Cement Foundation had for year 2009 allocated a total 25,000 bags of cement, valued at GH¢235,000, to assist needy health and education institutions throughout the country rehabilitate their infrastructure, or build new ones.

Other officials of the Ghacem Cement Foundation Executive Council at the presentation ceremony, were Nana Prah Agyeinsam VI, Chairman, Dr. Audrey Gadzekpo, Director of the School of Communication, Legon, and Dr. George Dawson-Ahmoah, Strategy and Corporate Affairs Director of Ghacem.

In seven years of existence, the Cement Foundation has assisted over 1,400 communities with about 210,000 bags of cement valued at more than GH¢ 2.4million.

"The company also continues to contribute substantially to Ghana’s economic development, and in year 2008, paid GH¢63.8 million in direct and indirect taxes to the state," Mr. Gade stated.

Nana Prah Agyeinsam VI regretted that communities in the northern sector generally failed to take advantage of the Ghacem Cement Foundation program.