Cement prices increased due to Cedi depreciation

Cement manufacturing company in Ghana, GHACEM, has announced an increase in the prices of its products.

According to the company, the new prices will take effect from Wednesday, 11 December 2019.

Commercial Director for GHACEM, Nana Phillip Archer, in a statement, said the increment is due to, among other things, the depreciation of the Cedi against major trading currencies.

“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.

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

See full statement in detail

Source: kasapafmonline.com