The Ghana Real Estate Developers Association (GREDA) has raised concerns over the persistent increase in cement prices, despite the introduction of a Legislative Instrument (L.I.) aimed at stabilizing costs. The regulation, enacted on September 5, 2024, was intended to curb escalating cement prices and alleviate the financial burden on developers. However, GREDA reports that prices have continued to rise, rendering the law ineffective thus far.
Initially, the L.I. included a provision requiring cement manufacturers to obtain government approval before adjusting prices. This clause faced strong opposition from manufacturers and sections of the public, leading to its removal prior to the law’s enactment. Despite assurances from the Ministry of Trade and Industry that the legislation would lead to a reduction in cement prices nationwide, GREDA has expressed dissatisfaction with its implementation.
Speaking at the launch of the Diaspora Property Expo 2025 on November 21, GREDA’s Executive Secretary, Samuel Amegayibor, expressed disappointment with the law’s impact. He stated, “Since the L.I. on cement was passed, we haven’t seen anything different. Prices have gone up even further from the day it was launched. It’s as if no L.I. has been passed at all.”
The continuous rise in cement prices has significant implications for the real estate sector, affecting project costs and housing affordability. GREDA is urging the government to implement more effective measures to address the situation, emphasizing the need for policies that support both manufacturers and consumers in achieving price stability in the construction industry.
