Cement Price: CUTS International Advises K. T Hammond to Prioritize Competition Law over Price Regulation

Appiah Kusi Adomako, Director of CUTS International (West Africa), has criticized Minister for Trade and Industry Kobina Tahir Hammond’s reactive approach to addressing Ghana’s cement pricing issues. Adomako argues that legislative price controls will not effectively resolve the challenges faced in the cement industry.

In an interview on the Citi Breakfast Show with Bernard Alve, Adomako emphasized that the key to addressing these challenges lies in promoting a competitive market environment through robust competition laws.

“The minister’s current approach to this issue is misguided. Cement is imported into Ghana, and fluctuations in the dollar-to-cedi exchange rate significantly impact prices,” Adomako stated.

“If we aim to regulate prices, the minister shouldn’t just focus on cement but also on other commodities like rice, cooking oil, and other consumer goods that are experiencing price hikes.

“However, it’s doubtful the minister can dictate terms to importers in places like Makola. As long as we operate in a free and competitive market, economic factors will dictate the prices of these goods.

“The most effective approach for Ghana’s cement industry isn’t price regulation but rather the implementation of robust competition laws.”