Cement shortages, high prices force real estate developers lay off workers

Real estate developers in the country are worried about what they say is acute shortage of cement on the market.

Some of them are said to be laying off workers as a result of the shortages.

President of the Ghana Real Estate Developers Association (GREDA), Dr. Alex Tweneboah told Joy News the situation is affecting their business.

He said some real estate companies were not able to obtain the quantity of cement, an essential commodity, for their work.

“We have found out that the three major sources of our cement supplies are having some issues with the supplies; we are aware that currently Ghacem is refurbishing one of the plants which is causing some delays and shortages in cement and the Diamond company at Aflao recently had a transformer [break down] which has caused disruptions in the production,” he stated.

Dr. Tweneboah says the shortage has also shot up prices with a bag of cement selling at over 20 Ghana cedis in Accra.

Meanwhile Ghana Cement Company is under pressure to increase production after its competitor, Diamond Cement slowed down production as a result of power problems.

The disruption in power supply is as a result of the recent storm that hit some parts of Accra and Volta regions.

Corporate Affairs Director of GHACEM, Dr. Dawson-Amoah, says the company is undertaking an expansion exercise in order to increase productivity to meet the increasing demands.