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Claim: A social media user, Rashid Akugri, has posted what he claims to be a reduction of prices of cement in Ghana from Ghc 130 to Ghc 82 due to the appreciation of the Cedi against the Dollar and its other trading partners.
Verdict: False. The price of cement has not been reduced from Ghc 130 to Ghc 82 due to the appreciation of the Cedi, as widely circulated on social media. The price range remains between Ghc135 and Ghc110 due to a backlog of old stocks produced from raw materials imported at the old Dollar rate.
Full Text
In recent times, the Ghana Cedi has appreciated against the Dollar, causing an expected reduction in the costs of goods and services. One major good for which many expect a price reduction is cement.
A Facebook post that garnered approximately 40,000 likes, 3,500 comments, and around 1,500 shares across various pages and was shared here, here, here, and here, among several others, claims that the price of cement as of May 19, 2025, is Ghc82.
DUBAWA decided to investigate the claim due to its potential misinformation.
Verification
DUBAWA contacted the CEO of the Ghana Chamber of Construction Industry, Emmanuel Cherry. Cherry clarified that cement prices in Ghana currently range between GHS 110 and GHS 135, consistent with prices from the previous month. Despite public speculation about falling prices, there has been no actual reduction. Cherry emphasised that claims of distributors buying cement at extremely low prices and selling at inflated rates are inaccurate and misleading.
He explained that price differences between manufacturers and retailers are due to standard business margins, which include transportation costs and profit components. Cherry dismissed suggestions that cement is bought at GHS 82 and sold at GHS 110. He highlighted that 90-95% of materials used in cement production are imported, and thus subject to port charges and dollar-based calculations, making pricing sensitive to currency fluctuations.
Cherry noted that while the Ghanaian Cedi is currently appreciating against major international currencies, such as the dollar and euro, this development alone does not immediately impact retail prices. Business decisions, he said, rely on observing sustained trends rather than reacting to short-term shifts. The Governor of the Bank of Ghana has reassured the business community that the Cedi’s gains are realistic, encouraging future cost reductions.
The Trade and Industry Ministry, agribusiness, and trade unions have agreed to monitor the market until June. This observation period will assess whether the improved exchange rate and other economic indicators translate into genuine reductions in manufacturing and retail costs. The outcome could lead to policy shifts or pricing adjustments across the industry.
At Johnson Manuel Hardware Retail and Supply, a bag of Ghacem cement still costs between Ghc115 and Ghc130.
Additionally, Accra-based Citi News Room reports that, following interviews with cement retailers in Ghana’s capital, the recent appreciation of the Ghana cedi has not been reflected in lower prices at the counter. GHACEM 32R is still retailing at around 120 cedis per bag.
DUBAWA also spoke with the owner of Builders’ Choice Shop in Ho in the Volta Region. According to the shop owner, she deals mainly in the Diamond Cement brand. Depending on the quality and type of cement, the price ranges between Ghc 100 and Ghc 125 at her shop. Other shops in Ho also sell theirs between Ghc110 and Ghc130.
Conclusion
After checking with several retailers, searching the internet, and speaking with the CEO of the Chamber of Construction Industry, it is evident that the price of cement has not decreased from Ghc 130 to Ghc 82. The price range remains between Ghc135 and Ghc110 even after a backlog of old stocks produced from raw materials imported at the old Dollar rate.
