As the Ghanaian cedi continues its strong rebound against major international currencies, the Ghana Standards Authority (GSA) is working closely with cement producers to ensure that recent exchange rate gains are reflected in cement prices, a critical step toward making housing more affordable.
At a stakeholder symposium held in Accra, Director-General of the GSA, Professor Alex Dodoo, stressed that while market prices for some goods have begun to fall in response to the cedi’s appreciation, cement prices have remained largely unchanged.
He noted that most manufacturers have not updated their price submissions since May, despite the favourable macroeconomic conditions.
“When the cedi was depreciating, prices of cement were not adjusted daily. Similarly, now that the cedi is appreciating, we understand that manufacturers may wait to see if the trend is sustainable. However, if the strength of the currency holds, we expect cement prices to come down,” Prof. Dodoo said.
His remarks come amid growing pressure from the Ghana Real Estate Developers Association (GREDA), which has called on suppliers to reduce the cost of building materials in line with current economic trends. GREDA President Dr. James Orleans-Lindsay highlighted the mismatch between pricing policies and market realities.
“Housing developers have begun quoting homes in Ghana cedis to support the local currency, but the prices of essential materials like cement and iron rods have not adjusted accordingly. This is hurting affordability and access to housing,” Dr. Orleans-Lindsay stated.
Professor Dodoo also introduced a key innovation aimed at reducing Ghana’s dependence on imported clinker, a major cost component in cement manufacturing.
He revealed that Ghana has successfully developed and is already producing a new cement standard known as Limestone Calcined Clay Cement (LC3).
This type of cement contains a significantly lower percentage of clinker, down from 60% to about 35% while using locally available substitutes like calcined clay and limestone.
“LC3 allows us to cut down clinker imports drastically. We estimate Ghana could save nearly US$500 million annually on import bills through widespread adoption of this technology, I t’s not only cost-effective but also environmentally sustainable,” Prof. Dodoo said.
He cautioned against mixing different brands or types of cement on the same construction site, warning that it could compromise structural integrity. “The strength, setting time, and composition of each cement type vary. Mixing can cause failures and accidents,” he said.
To complement these policy moves, GSA is distributing a new free handbook aimed at informal construction workers. The booklet includes basic guidelines on safe construction practices, mixing ratios, and material handling to raise awareness and reduce building collapses linked to poor construction knowledge.
The GSA is also tightening market surveillance to ensure that only quality-assured cement products are sold in the country. The Authority is working closely with law enforcement to clamp down on non-compliant manufacturers and remove substandard products from circulation.
The event was supported by the German Federal Institute for Materials Research and Testing (BAM), which reaffirmed its technical cooperation with GSA. Dr. Norbert Schultes from BAM emphasized Germany’s ongoing support for improving construction standards in Ghana.
“We are committed to supporting Ghana’s transition to more efficient and affordable construction methods. By partnering with GSA and local stakeholders, we aim to raise the quality of infrastructure while reducing costs for the average Ghanaian,” Dr. Schultes said.
As the cedi shows signs of long-term stability, driven by strong fiscal consolidation, increased foreign reserves, and monetary discipline, market watchers and developers alike are hopeful that cement prices will finally reflect these macroeconomic gains.
For consumers and developers, any downward shift in cement prices could be a much-needed relief as they continue to navigate inflationary pressures and housing shortages.
The GSA’s efforts, backed by technical partnerships and regulatory oversight, may be the turning point in making Ghana’s housing sector both safer and more affordable.
