Strategy and Corporate Affairs Director of Ghacem, Dr. George Dawson-Ahmoah, has explained that the company reduced cement prices in fulfillment of its pledge to act positively when the cedi gains strength against major international currencies.
He explained that Ghacem fulfilled the pledge to Ghanaians because the cement producer was a good corporate citizen
Dr. Dawson-Ahmoah noted the recent appreciation of the cedi has resulted in a marginal reduction of the company’s production cost.
Dr. Dawson-Ahmoah announced the company’s ex-factory price of cement has been reduced from Gh¢30.55 to Gh¢27.965, stressing the company will not hesitate to further reduce the price should the cedis' appreciation hold.
He commended government for working to salvage the free fall of the cedi and urged managers of the economy to do more to safeguard the welfare of Ghanaians.
Ghacem he noted imports about 80 percent of its raw materials for production of cement hence the recent depreciation of the Cedi really affected production cost and the company had no option than to increase prices.
Dr. Dawson-Ahmoah, who doubles as the Chairman of the made in Ghana Campaign of the Association of Ghana Industries (AGI) stressed that Ghacem will continuously patronize the use of local limestone for the production of cement and will continuously search for the availability of local limestone concession in order to add value to local production.