Headlines for African Home Building News
Cement Firms Flout Deadline for Declaring Ex-Factory Prices
Greater Accra Regional Security Council demolishes illegal structures on the Sakumo Ramsar site
China’s Property Market Faces Continued Decline Amid Economic Challenges
Cement manufacturers in Ghana failed to meet a key deadline set by the Cement Manufacturing Development Committee (CMDC) to declare their ex-factory prices by Friday, May 23, 2025.
The declaration, mandated under the Ghana Standards Authority (Pricing of Cement) Regulations, 2024 (L.I. 2491), is a crucial part of the CMDC’s oversight role in examining manufacturers’ price structures to ensure transparency and protect consumers.
Despite repeated reminders, none of the companies had complied with the directive by Sunday, May 26, 2025. This has raised suspicions of possible price-fixing and a lack of willingness by manufacturers to adjust prices in line with recent economic trends.
There is growing frustration among consumers and construction firms as cement prices in Ghana remain stubbornly high, despite a notable appreciation of the Ghana Cedi against the US dollar.Industry observers had expected the stronger Cedi to lead to reduced production costs and, subsequently, lower cement prices.
However, cement remains expensive, fueling speculation about unjustified pricing and deepening public dissatisfaction.
Cement, a vital input for housing and infrastructure development, continues to strain budgets across the construction sector, with many calling for urgent government intervention to enforce price adjustments.
The Greater Accra Regional Security Council (REGSEC), in partnership with National Security and NADMO, has demolished illegal structures on the Sakumo Ramsar site to restore water flow and curb flooding.
The exercise, led by Regional Minister Linda Akweley Ocloo on May 27, 2025, followed a presidential directive aimed at flood prevention. Authorities revealed the buildings lacked permits and contributed to recent flooding. NADMO and the Forestry Commission plan to green the area to prevent re-encroachment.
Officials blamed persistent encroachment on corruption, land guards, and lack of enforcement, stressing the need for strict planning regulation.
China’s property sector is projected to remain weak in 2025, with home prices expected to fall by 4.8%, according to a Reuters poll of 12 analysts conducted in May.
This marks a downward revision from a previous forecast of a 2.5% decline earlier in the year. Analysts now anticipate prices to stay flat in 2026, rather than post modest growth. Contributing factors include oversupply, low buyer confidence, high developer debt, and weak economic conditions.
Escalating trade tensions between China and the U.S. are also dampening economic growth and buyer sentiment.
Despite recent government stimulus measures, such as mortgage rate cuts and local government purchases of unsold homes, these efforts have had limited impact, particularly in lower-tier cities.
Property sales are forecast to decline by 5.0% and investment by 8.4% in 2025, both worse than earlier expectations.
Source : African Home Building News -Joyceln Marigold
