Efforts to curb rising cement costs in Ghana appear to have stalled, despite the introduction of a new Legislative Instrument (L.I.) aimed at regulating prices.

The law, passed on 5 September 2024, sought to stabilise cement prices and offer relief to developers. However, industry players say prices have continued to climb, raising questions about the effectiveness of the regulation.

Initially, the L.I. proposed that manufacturers seek government approval before adjusting prices. But this clause was removed after strong opposition from manufacturers and sections of the public. The final version, backed by Trade and Industry Minister K.T. Hammond, was passed after 21 parliamentary sittings.

The Ministry of Trade and Industry has assured the public that the legislation will lead to a nationwide reduction in cement prices. Yet, the Ghana Real Estate Developers Association (GREDA) remains unconvinced, citing a lack of tangible results since the law’s implementation.

Speaking at the launch of the Diaspora Property Expo 2025, GREDA’s Executive Secretary, Samuel Amegayibor, said:

“Since the L.I. on cement was passed, we, as users, have not seen any difference. Prices have continued to rise even after the legislation came into effect. It feels as though no law has been enacted at all.”

Mr Amegayibor added that manufacturers, wholesalers, and dealers appeared to be operating as usual, despite having responsibilities under the new law.

He questioned whether the regulation would take effect on a later date yet to be announced by the minister, but stressed that stakeholders had expected immediate action.

The government is yet to respond to these concerns, as the pressure mounts to address the ongoing surge in cement prices.

Source:TheDotNews