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Mahama Hails Economic Reforms as Cement Prices Fall Sharply in Ghana

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President John Dramani Mahama has hailed Ghana’s ongoing economic reforms and industrial investments after announcing a sharp reduction in cement prices across the country, bringing significant relief to the construction and housing sector.

According to the President, cement prices have fallen by about 20 percent following a combination of macroeconomic stabilisation policies, fiscal discipline, and sustained engagement with industry stakeholders.

Speaking during the commissioning of a new $110 million calcined clay cement manufacturing plant in Tema, President Mahama described the development as evidence that sound economic management and private sector collaboration are yielding positive results.

“Through a mix of macroeconomic stabilisation, fiscal discipline and constructive engagement with industry stakeholders, we have started to see positive results in the cement space,” President Mahama said.

He added that the price reduction is already benefiting builders, contractors, and households across the country who rely heavily on cement for construction activities.

Relief for Construction and Housing Sector

President Mahama explained that cement prices had surged in 2024, reaching approximately GH¢120 per bag for 42.5 grade cement and GH¢113 per bag for 32.5 grade cement.

However, he said government policy reforms helped reverse the upward price trend.

“By July 2025, cement prices had fallen by about 20 percent, providing relief to builders, contractors and the housing construction industry,” he stated.

The President further noted that construction inflation has also shown signs of stabilisation, declining to 3.9 percent year-on-year in January 2026, reflecting broader economic recovery.

“These developments demonstrate the impact of prudent economic management and a strengthening domestic currency,” he said.

Industrial Investment Driving Local Production

President Mahama linked the price reduction partly to new investments in Ghana’s cement manufacturing industry, including the newly commissioned calcined clay cement plant in Tema.

He said the facility will help increase domestic cement supply while reducing Ghana’s dependence on imported clinker, which has historically increased production costs.

“This investment demonstrates that when the policy environment is transparent, stable and supportive of enterprise, the private sector will respond by mobilising capital and undertaking projects of global significance,” he said.

The President explained that the new plant will reduce clinker imports by more than 10 percent, helping retain hundreds of millions of cedis within the domestic economy.

“This means lower production costs, reduced import dependency and more value retained within the Ghanaian economy,” he added.

Sustainable Manufacturing and Climate Action

The new plant utilises limestone calcined clay cement technology, which significantly reduces carbon emissions compared to traditional cement production methods.

President Mahama emphasised the importance of adopting environmentally friendly industrial practices to support global climate goals.

“Traditional clay-based cement production accounts for about 8 percent of global carbon dioxide emissions. By introducing this technology, we are advancing both industrial growth and environmental responsibility,” he said.

He added that Ghana remains committed to balancing industrial development with climate action in line with international environmental agreements.

Part of Broader Industrialisation Agenda

President Mahama said the project forms part of government’s broader industrialisation and infrastructure development agenda under the Big Push programme, which is investing over GH¢60 billion in national development projects.

He expressed optimism that continued dialogue between government and industry stakeholders will help sustain price stability in the long term.

“Dialogue between government and industry remains essential for ensuring stability and sustainable growth in this all-important sector,” he said.

Economic Outlook

Analysts have welcomed the development, noting that stable construction material prices could support housing development, infrastructure expansion, and job creation across the country.

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GTA CEO Maame Efua Houadjeto Accepts Vice Chair Role of African Travel Commission

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Mrs. Maame Efua Houadjeto, Chief Executive Officer of the Ghana Tourism Authority (GTA), has officially accepted her appointment as Vice Chair of the African Travel Commission (ATC), reinforcing Ghana’s commitment to promoting tourism integration and sustainable development across the continent.

Her acceptance was announced during a high-level strategic meeting with the leadership of the African Travel Commission on the sidelines of the 2026 Hotel Managers Conference (HMC), held from July 11 to 12 at the Lagos Continental Hotel in Lagos, Nigeria.

The meeting brought together key tourism leaders, including Director General of the Nigerian Tourism Development Authority (NTDA) and Chairman of the African Travel Commission, Mr. Olayiwola Awakan, Executive Director of the ATC, Dr. Lucky Onoriode George, and Board Member, Prof. Wasiu Babalola.

Speaking after accepting the appointment, Mrs. Houadjeto expressed gratitude for the confidence placed in her, describing the role as both an honour and a great responsibility. She pledged to work closely with the Commission’s leadership and tourism stakeholders across Africa to strengthen regional partnerships, encourage collaboration, and advance the continent’s tourism agenda.

She highlighted Ghana’s historic role as the host of Africa’s oldest travel and tourism organisation, the African Travel Commission, saying the country’s legacy places a responsibility on it to continue championing regional integration and sustainable tourism development.

Mrs. Houadjeto said one of her priorities as Vice Chair would be to bridge the gap between West Africa and other regions of the continent while promoting stronger cooperation among African countries. According to her, greater collaboration will boost intra-African travel, attract investment, create jobs, and drive sustainable economic growth through tourism.

Chairman of the African Travel Commission, Mr. Olayiwola Awakan, welcomed her acceptance of the appointment, describing it as a significant step toward strengthening the Commission’s vision for a more united African tourism industry.

He praised Ghana’s longstanding contribution to tourism development in Africa and expressed confidence that Mrs. Houadjeto’s experience and leadership would add value to the Commission.

“Ghana has always played an important role in African tourism, and I am confident that with Mrs. Houadjeto serving as Vice Chair, the Commission will benefit immensely from her experience and leadership. Ghana, West Africa, and indeed the entire continent stand to gain when we work together towards common goals,” he said.

Executive Director of the African Travel Commission, Dr. Lucky Onoriode George, also described Mrs. Houadjeto’s acceptance as a major milestone in the Commission’s revitalisation efforts and a reaffirmation of Ghana’s historic leadership as one of the ATC’s founding members.

He noted that Ghana’s active role in the Commission’s leadership would help advance the organisation’s vision of building a more united, competitive, and globally recognised African tourism industry.

Dr. George added that the Commission remains committed to strengthening partnerships among governments, the private sector, development partners, and tourism stakeholders to accelerate tourism growth, improve air connectivity, encourage research and innovation, attract investment, and position Africa as one of the world’s leading tourism destinations.

The meeting ended with a renewed commitment by participants to promote a shared continental tourism agenda through strategic partnerships, regional integration, and sustainable development. They expressed confidence that Ghana’s leadership within the African Travel Commission would further support efforts to drive inclusive and sustainable tourism growth across Africa.

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President Mahama Signs New GIPA Act to Boost Investment and Position Ghana as West Africa’s Business Hub

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President John Dramani Mahama has signed into law the new Ghana Investment Promotion Authority (GIPA) Act, replacing the former Ghana Investment Promotion Centre (GIPC) Act in a major reform aimed at strengthening Ghana’s investment climate.

The new legislation is expected to reposition Ghana as a leading investment destination in Africa by simplifying investment procedures, reducing bureaucratic bottlenecks, and making it easier for both local and foreign investors to establish and operate businesses.

The Act also strengthens investor protection by providing a more robust legal framework that enhances confidence and security for investors while improving the country’s overall investment environment.

Additionally, the law expands the mandate of the Ghana Investment Promotion Authority, empowering it to more effectively promote, facilitate, regulate, and monitor investments across key sectors of the economy.

A key feature of the Act is its emphasis on supporting Ghanaian businesses, enabling local enterprises to scale up, attract investment, and participate more competitively in the country’s growing investment ecosystem.

The government says the new GIPA Act forms part of its broader economic transformation agenda and is expected to drive sustainable economic growth, create jobs, attract quality investments, and reinforce Ghana’s position as the preferred investment destination in West Africa.

The legislation marks another step in the government’s #ResettingGhana agenda to build a more competitive, business-friendly, and resilient economy.

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Kenneth Ashigbey Denies Influencing Wontumi Case, Condemns False Claims

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Chief Executive Officer of the Ghana Chamber of Mines, Ing. Kenneth Ashigbey,has strongly denied allegations that he influenced the High Court’s ruling in the case involving NPP Ashanti Regional Chairman Bernard Antwi-Boasiako, popularly known as Chairman Wontumi.

In a press release issued on Tuesday, July 21, 2026, Ashigbey described as “completely false” reports claiming that his relationship with the trial judge influenced the court’s decision and that he had allegedly stated he was confident Wontumi would be jailed because the judge was his sister-in-law.

Ashigbey categorically rejected the claims, insisting he never made such a statement.

“I have never said, anywhere, at any time, that I was confident Wontumi will go to jail because the judge is my sister-in-law. That quote is a fabrication,” he stated.

He further clarified that the July 20, 2026 judgment in Republic v. Bernard Antwi-Boasiako (Wontumi), Kwame Antwi (At Large), and Akonta Mining Company Limited is entirely separate from a petition he filed together with Martin Kpebu, Edem Senanu, and Kwame Asiedu.

According to Ashigbey, their petition remains pending before a different court and has not yet been heard on its merits. He described attempts to connect the two cases as “deliberate mischief” aimed at misleading the public.

He also dismissed suggestions of a conflict of interest, stressing that he was not a party to the case that resulted in Wontumi’s conviction and therefore had no direct interest in its outcome.

“There could not have been any conflict-of-interest situation as is being alleged,” he stated, urging the public to refrain from dragging judges and their family relationships into public propaganda.

Ashigbey warned that such allegations undermine public confidence in Ghana’s justice system and called on citizens to allow the judiciary to perform its constitutional duties without interference.

Reaffirming his long-standing position on illegal mining, Ashigbey said his advocacy has remained unchanged since 2017. He maintained that individuals who organise, finance and benefit from illegal mining activities—the “kingpins”—should face the maximum punishment permitted under the law.

“For the past eight years, I have maintained the principled view that those who organise, finance and benefit (‘kingpins’) from illegal mining activities should be subject to the maximum sentence prescribed by law. I stand by that position without reservation,” he said.

He concluded by urging the public to disregard the false reports and instead focus on the substantive issues surrounding the fight against illegal mining and the rule of law.

110 Response – I was confident Wontumi will go to_260721_190440

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