Cement prices in Ghana have fallen by about 20 percent since mid-2025 after a period of sharp increases that strained the construction sector, President John Dramani Mahama said on Thursday.
Speaking at the commissioning of a new cement plant in Tema, Mahama said the price decline reflected improved macroeconomic stability and closer engagement between government and industry.
At the end of 2024, cement prices had surged to around 120 Ghanaian cedis per bag for 42.5-grade cement and roughly 113 cedis for 32.5-grade cement.
But by July 2025, prices had fallen by around one-fifth, offering relief to contractors, builders and the housing sector, the president said.
The improvement followed a combination of fiscal discipline, currency stabilisation and discussions between the government and cement producers.
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“These developments demonstrate the effects of prudent economic management,” Mahama said.
He added that lower cement prices had helped moderate broader construction costs.
Data from the Ghana Statistical Service shows construction inflation slowed to 3.9% year-on-year in January 2026.
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The cement industry has drawn increased policy attention because of its importance for housing, roads and other infrastructure projects.
Demand for cement has been rising as Ghana invests heavily in public works.
Mahama said the government had awarded about 50 billion cedis in road construction contracts under its infrastructure development programme.
Industry groups say stable cement prices are critical for the sustainability of these projects.
Mahama praised cooperation between government and the Chamber of Cement Manufacturers Ghana, which represents producers in the sector.
He specifically commended the chamber’s leadership for maintaining dialogue aimed at ensuring stability and growth.
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The commissioning of a new cement plant by CBI Ghana could also help increase supply in the domestic market.
The facility will produce limestone calcined clay cement, an environmentally friendly alternative to traditional clinker-based cement.
The technology reduces reliance on imported clinker by incorporating locally sourced clay into the production process.
Officials say the shift could lower production costs while supporting Ghana’s environmental goals.
The plant has an annual capacity of 1.5 million tonnes and is expected to operate around the clock.
It has created more than 100 direct jobs and over 1,000 indirect jobs.
Mahama said the expansion of cement manufacturing would support Ghana’s broader infrastructure drive while reducing reliance on imported building materials.
The government aims to strengthen domestic production to meet growing demand from housing and public works projects.
For builders and developers, stable cement prices could help accelerate construction activity.
“With more local production and improved macroeconomic conditions, we expect greater stability in the sector,” Mahama said.
