Steel manufacturers say they will not raise prices, citing currency stability and government interventions aimed at easing pressure on the sector, offering reassurance to businesses and consumers amid broader cost concerns.
The assurance followed a meeting between the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, and steel producers, after a series of engagements over operational challenges facing manufacturers.
Mike Thakwani, chairman of B5 Plus Ltd., speaking on behalf of the manufacturers’ association, said prices of steel products would remain unchanged despite ongoing difficulties in the industry. He added that supplies would continue to be readily available across the country.
The pledge aligns with government efforts to stabilize prices of key industrial inputs, supported by the recent steadiness of the cedi and targeted policy measures. Steel is a critical input for construction and infrastructure, sectors central to economic growth.
Thakwani said the industry remains committed to supporting government initiatives and expressed appreciation for the trade ministry’s cooperation with the sector.
Ofosu-Adjare commended steel producers for their contribution to national development and economic activity. She said manufacturers had outlined several operational challenges and requested government support, adding that the concerns had been noted and would be addressed. She reaffirmed government’s commitment to working closely with the industry to support the sustained growth of the sector.
