Good News To Ghanaians As Prices Of Cement Drop

There is promising news for Ghanaians, especially those in construction, as cement prices are beginning to fall after months of being high, thanks to the strengthening of the cedi against the US dollar.

At present, the price of a bag of cement ranges from GHS 110 to GHS 115 in most parts of the country. While some outlets still sell bags at around GHS 120, this is a significant improvement from previous prices, which ranged between GHS 120 and GHS 130 per bag.

The reduction follows public appeals for cheaper cement, coinciding with the improved exchange rate. The cedi is currently trading at GHS 10.2 per dollar, a substantial recovery from the previous rate of roughly GHS 16.

Cement retailers explain that the price drop is due to the sale of older inventory purchased at higher rates, while new stock bought at the lower exchange rate is now available for sale.

An Accra hardware vendor noted, “We are receiving new cement bags at better rates, so we can sell them more affordably. Our customers are happy, and so are we.”

Many Ghanaians are optimistic that cement prices will continue to decline if the cedi remains stable. The current price drop is expected to relieve financial burdens for builders and homeowners alike and could positively impact construction projects across the country.