No Result
View All Result
Tuesday, February 7, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    DDEP: Government hopeful bondholders will register for programme

    5 important things to know about the African Continental Free Trade Area agreement

    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Pensioners to picket at Finance Ministry over DDE

    Ghana begins to locally manufacture its own bullion vans to combat robbery

    MTN’s aYo insurance covers over 8 million Ghanaians in 5 years

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Nigeria ranks number one globally for cryptocurrency usage and ownership

    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

  • TECHNOLOGY

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    DDEP: Government hopeful bondholders will register for programme

    5 important things to know about the African Continental Free Trade Area agreement

    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Pensioners to picket at Finance Ministry over DDE

    Ghana begins to locally manufacture its own bullion vans to combat robbery

    MTN’s aYo insurance covers over 8 million Ghanaians in 5 years

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Nigeria ranks number one globally for cryptocurrency usage and ownership

    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

  • TECHNOLOGY

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Cedi’s depreciation pushes cement prices up

bycitibusinessnews
June 22, 2015
in Business, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Citi Business News can confirm all three local cement producers in Ghana have increased the prices of their products on the market.

[contextly_sidebar id=”mEc2iMFoQ4CwLT9fMzMRWN6NOBAB7sXl”]A 50 kilogram bag of Dangote Cement for example has been increased by 2 cedis, 6 pesewas effective today June 22nd, 2015.

According to the sales and marketing manager of Dangote Cement Joseph Abu , “a bag of Dangote Cement effective today will be sold at 29 cedis 30 pesewas, representing a 9.6% increase in price”.

ADVERTISEMENT

The same bag was earlier being sold at 26 cedis, 70 pesewas.

According to Joseph Abu, the increase has been necessitated by the rate at which the cedi is depreciating against the dollar.

Ghacem limited increased their ex-factory price effective June 13,2015 while Diamond cement increased their prices effective June 17, 2015.

Ghacem Limited has also sanctioned a 2 cedis 80 pesewas increase in the price of a 50kilogram bag of their product.

According to a price list on the company’s website, the ex factory price of their product is 29 cedis, 37.5 pesewas.

The same product was earlier being sold at 26cedis, 55.5pesewas.

Ghacem Limited also cited the current cedi depreciation as reason for their latest move.

Another local cement company is Diamond Cement; they have also increased their prices by 2 cedis 82 pesewas.

The head of the commercial department at Diamond Cement Ghana Limited said,”the ex-factory price of a 50 kilogram bag of Diamond cement is now 28cedis 43.5pesewas’.

All three cement producers sometime last year increased the prices of their products because of the consistent slide of the cedi against major foreign currency.

But later in the second half of 2014, the companies reduced the prices of their products by different margins because the cedi gradually was appreciating against the dollar and other major trading currencies.

–

By: Rabiu Alhassan/citifmonline.com/Ghana

Related Posts

Local Economy

DDEP: Government hopeful bondholders will register for programme

bycitibusinessnews

Government is optimistic all bondholders will sign up for the Domestic Debt Exchange Programme, as registration unto the programme expires...

Read more

5 important things to know about the African Continental Free Trade Area agreement

Nigeria ranks number one globally for cryptocurrency usage and ownership

DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

Pensioners to picket at Finance Ministry over DDE

Next Post

Pound and Euro hit 7& 5 cedis respectively

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.