According to Joy Business News, the increase is due to the weakening of the Ghana cedi, recent increases in transportation costs, and the Russian-Ukraine war, which has affected logistics and the transport of some raw materials from overseas for local manufacture.
According to information received, the price of a 50-kilo bag of cement is likely to climb from 45 Ghana cedis to 55 Ghana cedis.
In the short term, the development may have an impact on house prices and the personal budgets of many people who are now constructing homes in the country.
Recently, manufacturers pressed the government to reconsider input taxes and port fees
They hoped it would help the situation, especially last year.
The administration, on the other hand, paid no heed to this. These producers believed that by forgiving some of these port fees, the recent price hikes would be mitigated