Stakeholders in Ghana’s real estate sector argue that the recently passed Legislative Instrument (L.I.) on cement price regulation has not curbed the rising cost of building materials, including cement.
The regulation, enacted on September 5, 2024, was designed to stabilize cement prices and offer relief to developers. However, industry players claim that prices have continued to climb, raising doubts about the law’s effectiveness.
Originally, the L.I. proposed that cement manufacturers obtain government approval before setting prices, but this provision was removed after strong opposition from manufacturers and the public.
Despite this pushback, the law, which was backed by Trade and Industry Minister K.T. Hammond, was passed after 21 parliamentary sittings.
The Ministry of Trade and Industry has assured the public that the legislation will lead to lower cement prices across the country.
However, the Ghana Real Estate Developers Association (GREDA) has expressed dissatisfaction with the law’s implementation.
Samuel Amegayibor, Executive Secretary of GREDA, highlighted these concerns on November 21 during the launch of the Diaspora Property Expo 2025.
“Since the LI on cement was passed, so far as we the users of cement are concerned, we haven’t seen anything different. Prices have gone up even from the day it was launched, it has gone up further.
“So far as we’re concerned and with our earlier interactions with the manufacturers, nothing is happening, it’s as if no LI has been passed at all. We’re just doing business as usual, maybe it will take effect from a specific date the minister intends to announce, but we are not sure.
“We thought that so far as his last statement was made, the assumption is that it will take effect immediately. So far we’re concerned with the manufacturers, wholesalers and dealers, they have some responsibility per the LI.”
