Claim: Cement prices have been slashed to GH¢82 and GH¢85

Source: Social media 

Verdict: False

 Researched by Gifty Danso 

Viral claims circulating on social media platforms since May 18, 2025, suggest that cement prices in Ghana have dropped from GH¢120 to between GH¢82 and GH¢85, as the cedi appreciates against the dollar. 

GhanaFact observed that these claims were widely circulated across platforms such as Facebook, X, Instagram, YouTube, TikTok, Threads, and some news articles (find here, here, here, here, here, and here) with captions such as: “GHACEM cement price drops from GHS 120 to GHS 82 due to the cedi’s appreciation against the dollar. Other similar items are expected to see significant price reductions.”

For the past few weeks, the Ghanaian Cedi has appreciated against the US dollar, the world’s most popular trading currency. This has led to calls for businesses to reduce prices of commodities. 

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The Ghana Union of Traders Association (GUTA) has added its voice to calls for traders and businesses to reduce prices to reflect the performance of the cedi. 

This fact-check will verify the accuracy of the viral claim.

Fact-check

GhanaFact contacted cement retailers in Accra to verify the current price of a bag of cement. Mr. Boamah, a building materials retailer, told our team that cement prices have not been reduced.  

“The current price is GH¢125 for GHACEM,” he said. 

The team also found media reports where other retailers have denied reports of reductions in cement prices (here, here, and here). 

In a vox pop by Oyerepa TV’s Kwesi Parker Wilson at cement shops in Kumasi, on May 19, 2025, patrons said they were disappointed that prices remained unchanged. 

“I heard there was a reduction in cement prices, but when we got here, the trader hadn’t reduced it. The retailer maintained the price was GH¢130. We heard the price had been reduced to GH¢82.00. We read it yesterday on Facebook and even today. I have a screenshot of some captions on my phone. So we are surprised there is no reduction,” one buyer said. 

“We are here to buy cement. We heard the prices have been reduced, but the prices remained at GH¢130. I was expecting a reduction to GH¢105 or GH¢102. We heard on social media. They claimed that because the (US) dollar has depreciated, everything, including cement prices, has been reduced,” another buyer said in the interview. 

While it is true the cedi has seen some appreciation against the US dollar and other major trading currencies, this has not yet affected the current price of cement on the market.  

Verdict 

Therefore, the claim is false!