Bussiness
Cement prices to hit ¢66 per bag from today
The price of a 50-kilogram bag of Cement is expected to be increased by more than ¢5 from today to hit ¢66.
This is what JoyBusiness has picked up from some of the major manufacturers of the product in the country. Sources say the expected increase may hit consumers in Accra the hardest.
This is because some manufacturers are looking to offset parts of the cost of products being transported outside the metropolis to other regions in the country.
One of the manufacturers told JoyBusiness; “we can control the factory price, but we are not sure about the retail price in the markets in other regions.”
However, we will try out best to take some of the cost of reducing the margin of increase after the transport charges and other related costs are added to the product.
According to the manufacturers, the increment can be attributed to a myriad of issues most of which they have tried to manage for a long time.
They argue that the increment has been influenced by the recent depreciation of the Ghana cedi, hikes in prices of petroleum products, and transport fares.
They also maintained that their situation has been compounded by supply challenges for their production inputs and difficulties with importing some raw materials due to developments in Russia and Ukraine.
The manufacturers have also raised issues with some of the port charges, which they say leave them with no choice but to pass down to consumers.
Impact on the economy
The development may impact the prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in the country.
It could also impact on the cost of some of the ongoing construction projects in the county. The adjustments may also increase the cost of doing business and influence the rising inflation rate in the country.
Source: adomonline.com
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
The Minister for Finance Hon. Cassiel Ato Forson has disclosed that a sum of nine hundred and Eighty-Seven Million, Nine Hundred and Sixty-Five thousand and Seventy-Three Ghana Cedis (GHS987,965,073.00) from the Consolidated Fund into the District Assembly Common Fund Account, being the first quarter amount due to the DACF.
Furthermore, the Finance Minister informed the House that a total amount of Two Billion, Thirty- Three Million, Four Hundred and Sixty-Nine Thousand, Six Hundred and Seven Ghana Cedis (GHS2,033,469,607) has been disbursed to the National Health Insurance Fund.
While the Ghana Education Trust Fund has also received a total of Two Billion, Seven and Ten Million, Two Hundred and Twenty-Seven Ghana Cedis (GHS2,710,227,947.00) for the months January, February, March and April,2025.
The Finance Minister disclosed this in his statement to Parliament on the payments to statutory funds on the floor of the House.
In addition, he cautioned that the Administrator of the District Assembly Common Fund is required to ensure that 80% of this amount is transferred directly to the Assemblies without fail and expenditure returns submitted to the Ministry of Finance before subsequent releases will be made.
He added that Members are encouraged to monitor the utilization of these amounts sent to their respective Assemblies in line with the approved guidelines by Cabinet.
In his closing remark, Ato Forson said he’s going to take the concerns of the House seriously.
For his part, the Majority Leader, Mahama Ayariga made known the President’s prioritization of women in the country stating that President Mahama is “Pro-women”.
This is due to the fact that women are going to be the core beneficiaries from the expenditures going to be made by the MMDA’s, he added.
The Minority Leader Alexander Afenyo-Markin questioned the Finance Minister why road contractors have not been paid for more than five months. He said the Minister must not be applauded for since the allocation of these funds were long overdue.
