Ghacem to raise cement prices

Ghacem has announced that the price of its bagged products will increase from Wednesday, 11 December, on the back of an increased cost of production.

"Management wishes to inform customers that our cost of production has increased significantly due to the depreciation of the Ghana cedi against the major international currencies, increased utility tariffs, and fuel and port duties among others," said Nana Phillip Archer, commercial director for the Ghana-based company.

"In view of this, we are reluctantly compelled to adjust upwards our prices of bagged cement products with effect from Wednesday, 11 December 2019."

While the company has not reported by how much prices will increase, the news follows prices hikes earlier this year.