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GHACEM says stabilisation of the cedi would help bring cement prices down

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World Cement,

Ghana Cement Company’s (GHACEM) Managing Director Morten Gade has said that the price of cement in Ghana, which increased dramatically in 2Q14, would come down should the local currency continue to stabilise. The depreciation of the cedi has been a factor in the price hike, but GHACEM has also blamed the unpredictable power supply for cement shortages, which have pushed prices up.

GHACEM, which is a HeidelbergCement company, has already called on the government to improve power infrastructure to support manufacturing. About a year ago, GHACEM complained about the rise in power tariffs that has added US$25 million to the company’s operating costs, saying that it gave importers of bagged cement an advantage because they did not have to deal with the same high costs.

Dangote Cement has recently announced plans to expand its presence in Ghana with the addition of a new grinding and packing plant. Cement production in Ghana is limited by the availability of good quality limestone.

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