Audio By Carbonatix
Ghana Real Estate Developers (GREDA) on Tuesday expressed worry over the non-availability of cement as a core product of the building industry.
Dealers of the product have blamed the Ghana Cement Manufacturing Company (GHACEM), the major manufacturer of the product, for releasing limited quantities onto the market the company in turn has blamed the current load shedding exercise for the reduced level of production.
Production levels of cement has reduced to some 5 thousand tons a day from about 10 thousand tons leading to price hikes but the manufacturers believe the product had become expensive due to the activities of middlemen.
A bag of cement now sells between 85 to 90 thousand cedis and GREDA believe the price increase was defeating the purpose of making housing affordable to the Ghanaian.
President of GREDA, Dr. Alex Tweneboah told Joy Business report that the cause of cement shortage had gone beyond the power crisis.
Dr Tweneboah said the product had been in short supply for the past six days.
He described the situation as frustrating and warned that the prices of houses could rise if the current shortage and price hikes of cement remained the same.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Why it’s time to change Ghana’s cocoa law
4 minutes -
Adamus Resources defends reputation amid renewed public scrutiny
8 minutes -
GN Savings and Loans could resume operations before end of 2026 — Dr Kweku Nduom
34 minutes -
Telecel CEO speaks on closing Africa’s gender gap in technology at Rwandan summit
39 minutes -
Analysis: Why the cedi is depreciating
2 hours -
What are they hiding? – Tech consultant questions rush for 15 digital bills
2 hours -
To nationalise or transform? Joy Business hosts roundtable on Ghana’s extractive future
2 hours -
This is not how modern innovation ecosystems are built – Tech analyst warns over NITA Bill
2 hours -
A web developer could become a criminal – NITA Bill sparks fear among young innovators
2 hours -
Mercy Johnson faces backlash over $18.24 menstrual kit
2 hours -
EU plans to fine Google high triple-digit million euro sum, Handelsblatt reports
3 hours -
Senegal’s Faye names economist Lo as new prime minister
3 hours -
Landslide at Angola illegal gold mine kills 28
3 hours -
The Draft NITA Bill should be shredded
3 hours -
Eni and partners approve new development phase for Ivory Coast project
3 hours