Ghana to look at regulating cement industry

Ghana’s Ministry of Trade and Industry has announced plans to set up a committee to advance the drafting of policies to regulate the country’s cement industry, according to local sources.

Deputy Trade and Industry Minister, Michael Okyere Baafi, said the “government is also working with the cement manufacturers in the area of regulation of cement and even the development of the cement business in Ghana. The cement business is not regulated.”

In addition, the country’s Chamber of Cement Manufacturers protested the reduction in benchmark value from 50 to 30 per cent by the government as it believes it will result in high production costs and impact cement prices. According to the chamber, the local cement industry is already suffering from high production costs as a result of the increase in the cost of limestone, clinker, duties, transport/fuel increase, the commissioning of new cement plants, and instability of the cedi against the major currencies.