Broadcast journalist, Bridget Otoo, has raised a siren over an upcoming increase in the price of cement.
In a post that has gone viral, she alleges that the price of the product will increase by a quantum leap of Ghc7 so that the already astronomical price of Ghc73 will change to Ghc80.
The popular broadcast journalist blamed the development on the riotous depreciation of the cedi wondering how any business could possibly be expected to keep in business with such tempestuous price rascality.
“Cement will hit 80 cedis a bag in some parts of the country. Cement prices are going up by 7 cedis. How can any business survive like this? You don’t make profit and the price goes up again! So your capital keeps reducing. It’s not funny at all,” she wrote.
Just two months ago in June, cement prices increased from Ghc59 per 50 kilogram bag to Ghc68.00
the increase had been influenced by a sudden rise in the cost of operations, from July 2022, due to the sharp depreciation of the cedi over the past month.
“when the factory price (whole sale price) of a 50 kilogramme was about ¢59.00, that was based on an exchange rate of around ¢7.60 pesewas in June this year” a source at a cement manufacturing company had said.
The cedi/dollar exchange rate escalated Ghc10 recently.