GHACEM has announced a marginal reduction in the price of its cement on the market.
According to GHACEM which has the largest market share in the cement business, the decision follows the recent appreciation of the Cedi against major international currencies.
[contextly_sidebar id=”jJACkwmTVXvFS3mq56OC9O4AxC7MKiot”]The ex-factory price of its 50kg cement bag has been reduced from GH₵30.55 to GH₵27.965, and this takes effect from Tuesday, October 7.
The Cedi experienced a free fall against the major trading currencies, depreciating about 30% to the US dollar in the first half of 2014.
The situation had a massive impact on imported goods across many sectors of the economy.
Many companies in the affected sectors, also passed on the rising cost of operations on the consumer, a situation that also impacted on inflation and the cost of living.
Since the steady rise of the Cedi against the dollar and the other trading currencies, there has been mounting pressure on traders to reduce the prices of their goods to correspond with the developments.
GHACEM in an advert in the dailies on Tuesday also released a list of recommended retail prices of their product across the country:
Find below the list from GHACEM
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By: Nana Boakye-Yiadom/citifmonline.com/Ghana