President John Mahama says cement prices in Ghana have dropped by about 20 percent due to improved macroeconomic stability and engagement between government and industry players.

Speaking at the commissioning of the world’s largest Calcined Clay plant at the Free Zones Enclave in Tema, President Mahama said the cement industry has received significant policy attention over the past year because of its vital role in construction, housing, and infrastructure development.

He explained that by the end of 2024, cement prices had increased sharply, reaching approximately GH¢120 per bag for 42.5 grade cement and GH¢113 per bag for 32.5 grade cement, putting pressure on builders, contractors, and the housing sector.

The President commended the Minister for Trade, Agribusiness and Industry and the Chief Executive Officer of the Ghana Free Zones Authority, noting that Ghana’s industrial growth is currently being driven by strong female leadership.

He congratulated the management of CBI Ghana and particularly praised the Managing Director for continuing the legacy of his father, who initiated the project years ago.

President Mahama used the occasion to urge Ghanaian entrepreneurs to prioritise succession planning to prevent the collapse of businesses after the death of their founders.