Stakeholders in Ghana’s real estate sector say the newly passed Legislative Instrument (L.I.) on cement price regulation has failed to curb rising building material costs, including cement.
The regulation, enacted on September 5, 2024, was designed to stabilise cement prices and ease the burden on developers. However, the Ghana Real Estate Developers Association (GREDA) argues that prices have continued to rise, making the law ineffective so far.
Initially, the L.I. sought to require cement manufacturers to obtain government approval before adjusting prices, but this provision was removed after strong resistance from manufacturers and sections of the public.
Speaking at the launch of the Diaspora Property Expo 2025 on November 21, GREDA Executive Secretary Samuel Amegayibor expressed disappointment with the law’s impact.
“Since the L.I. on cement was passed, we haven’t seen anything different. Prices have gone up even further from the day it was launched. It’s as if no L.I. has been passed at all,” Amegayibor remarked.
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While the Ministry of Trade and Industry, led by Minister K.T. Hammond, assures that the legislation will reduce cement prices, real estate players remain skeptical about its implementation and impact on the industry.
