Bussiness
Cement prices to hit ¢66 per bag from today
The price of a 50-kilogram bag of Cement is expected to be increased by more than ¢5 from today to hit ¢66.
This is what JoyBusiness has picked up from some of the major manufacturers of the product in the country. Sources say the expected increase may hit consumers in Accra the hardest.
This is because some manufacturers are looking to offset parts of the cost of products being transported outside the metropolis to other regions in the country.
One of the manufacturers told JoyBusiness; “we can control the factory price, but we are not sure about the retail price in the markets in other regions.”
However, we will try out best to take some of the cost of reducing the margin of increase after the transport charges and other related costs are added to the product.
According to the manufacturers, the increment can be attributed to a myriad of issues most of which they have tried to manage for a long time.
They argue that the increment has been influenced by the recent depreciation of the Ghana cedi, hikes in prices of petroleum products, and transport fares.
They also maintained that their situation has been compounded by supply challenges for their production inputs and difficulties with importing some raw materials due to developments in Russia and Ukraine.
The manufacturers have also raised issues with some of the port charges, which they say leave them with no choice but to pass down to consumers.
Impact on the economy
The development may impact the prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in the country.
It could also impact on the cost of some of the ongoing construction projects in the county. The adjustments may also increase the cost of doing business and influence the rising inflation rate in the country.
Source: adomonline.com
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “The economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
